McClatchy reported net income in the fourth quarter of 2017 of $60.4 million, or $7.80 per share, compared to net income of $3.1 million, or $0.40 per share in the fourth quarter of 2016.
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Additionally, the company reported adjusted net income, which excludes severance, unique tax items, and certain other items, in the fourth quarter of 2017 of $3.2 million, compared to adjusted net income of $12.9 million in the fourth quarter of 2016.
Total advertising revenues were $138.2 million, down 12.7% in the fourth quarter of 2017 compared to the fourth quarter of 2016. Digital-only advertising revenues grew 9.6% and total digital advertising revenues were 1.0% over the same period in 2016.
Direct marketing advertising revenues declined 9.9% in the fourth quarter compared to the same period last year. Direct marketing was negatively impacted by revenue losses due to Hurricane Irma.
Audience revenues were $95.0 million, up 2.5% in the fourth quarter compared to the same period in 2016.
Digital audience revenues were up 8.2%, and the number of digital-only subscribers ended the quarter at 102,900, representing an increase of 23.8% from the fourth quarter of 2016. Digital-only audience revenues associated with digital subscriptions were up 11.9% for the same period.
Total revenues for the full-year 2017 were $903.6 million; down 7.5% compared to the full-year 2016. Total advertising revenues were $498.6 million, down 12.3% compared to the full-year 2016.
Total digital advertising revenues were down 0.6% while digital-only advertising was up 9.8% for full-year 2017 compared to full-year 2016, largely offsetting the impact of the softening print adverting declines on total digital advertising.
Headwinds faced in advertising and the worsening print advertising trends in the second half of the year negatively impacted traditional newspaper advertising revenues in 2017.
Audience revenues were $363.5 million, down 0.4% for the full-year 2017 compared to 2016. Digital-only audience revenues associated with digital subscriptions were up 9.8% in full-year 2017 and total digital audience revenues were up 0.9% over the same period last year. ■