Gannett Co (GCI) swung to a net loss for the quarter ended Mar. 26, 2017. The company has made a net loss of $2.08 million, or $ 0.02 a share in the quarter, against a net profit of $39.60 million, or $0.33 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $15.68 million, or $0.14 a share compared with $42.76 million or $0.36 a share, a year ago.

Revenue during the quarter grew 17.30 percent to $773.46 million from $659.37 million in the previous year period. Gross margin for the quarter contracted 235 basis points over the previous year period to 34.27 percent. Total expenses were 99.87 percent of quarterly revenues, up from 92.39 percent for the same period last year. That has resulted in a contraction of 748 basis points in operating margin to 0.13 percent.

Operating income for the quarter was $1.03 million, compared with $50.20 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $69.68 million compared with $80.37 million in the prior year period. At the same time, adjusted EBITDA margin contracted 318 basis points in the quarter to 9.01 percent from 12.19 percent in the last year period.

Robert J. Dickey, president and chief executive officer, said, "Operating performance in the first quarter of 2017 trended better than our original guidance, with seasonal softness in revenues early in the year more than offset by continuing cost improvements leading to better than expected adjusted EBITDA and strong cash flow from operating activities."