Gannett, the largest newspaper publisher in the US, said second-quarter earnings climbed to $303.9m (£193.1m) compared with $288.9m last time.
Total newspaper operating cash flow, which includes USA Today and its UK Newsquest regional newspaper business, was $470.5m in the second quarter, versus $476.1m in the same quarter of 2001.
The company, which owns more than 22 TV stations and 90 newspapers in the US, as well as more than 300 titles in the UK including 15 daily newspapers, said operating revenues were almost flat at $1.62bn in the second quarter. For the first six months of 2002, operating revenues declined 2% to $3.15bn.
Chairman, president and CEO Douglas McCorkindale said: "Our broadcast properties achieved strong year-over-year gains, reflecting an improved advertising revenue environment for highly rated television stations. Our newspaper operations made progress during the quarter, but were modestly behind our year-ago performance. Newsprint expense declined 24% for the quarter. In the UK, our Newsquest properties made a contribution to cash flow and earnings, despite a challenging advertising climate. Substantially lower interest expense also contributed to the increase in earnings in the second quarter."
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