Tribune Publishing reports improved Q4 revenue, below expectations
Tribune Publishing Co. reported a 2015 fourth-quarter preliminary loss of $77,000, compared with net income of $15.5 million in the year-earlier period. The company reported earnings per share for the quarter were break-even, compared to 60 cents a share last year. Tribune Co. slit its publishing business and TV and entertainment arm, Tribune Media in August 2014. Excluding pre-tax charges, restructuring costs and other items, per-share earnings were $1.34 for the quarter, above the FactSet consensus of 93 cents a share. Revenue for the quarter grew 1% to $462 million, compared with $457 million during the same period a year ago. The FactSet consensus for revenue was $484 million Advertising revenue declined nearly 2%, while revenue from circulation grew 10% in the quarter. Tribune Publishing expects continued pressure on advertising and circulation revenue trends going into 2016.
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