Friday May 9, 11:36 AM
GateHouse Media posts much wider-than-expected 1Q loss
LONDON (Thomson Financial) - GateHouse Media Inc (NYSE: GHS - news) . said on Friday that its first-quarter net loss widened to $28.8 million, or 50 cents a share, from a loss of $6.08 million, or 16 cents a share in the same quarter a year ago.
The print and online publisher said it made a loss from continuing operations of 47 cents a share.
Revenue for the three-month period rose to $168.9 million from $94.7 million.
The mean estimate of analysts polled by Thomson Reuters (TRI.TO - news) was for a loss of 3 cents a share on revenue of $169.9 million.
GateHouse said it has identified non-strategic properties, including real estate, with a total value of $35 million, that it intends to put up for sale.
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