Gannett Co Inc/DE – ‘10-Q’ for 9/26/99 – EX-11

On:  Tuesday, 11/9/99   ·   For:  9/26/99   ·   Accession #:  39899-99-29   ·   File #:  1-06961

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        10-Q Report                                           27     99K 
 2: EX-11       Earnings Per Share                                     1      6K 
 3: EX-27       Financial Data Schedule                                2      6K 
 4: EX-99.1     Newsquest July Financials                              4     10K 
 5: EX-99.2     Pro Forma Financial Statements                         6     22K 

EX-11   —   Earnings Per Share

CALCULATION OF EARNINGS PER SHARE                                               
Gannett Co., Inc. and Subsidiaries                                              
Unaudited, in thousands of dollars (except per share amounts)                   

                                                                [Download Table]

                                  Thirteen weeks ended     Thirty-nine weeks ended 
                                 Sept. 26,     Sept. 27     Sept. 26,    Sept. 27  
                                    1999         1998         1999*        1998*   
                                 ------------ -----------  ------------ -----------
                                                                                   

Basic earnings:                                                                    
   Net income                    $207,479     $176,519     $663,342     $742,178   

   Weighted average number of                                                      
     common shares outstanding    279,581      284,366      279,505      284,381   

   Basic earnings per share         $0.74        $0.62        $2.37        $2.61   

Diluted earnings:                                                                  
   Net income                    $207,479     $176,519     $663,342     $742,178   

   Weighted average number of                                                      
     common shares outstanding    279,581      284,366      279,505      284,381   

   Dilutive effect of out-                                                         
     standing stock options and                                                    
     stock incentive rights         2,619        2,557        2,530        2,692   

   Weighted average number of                                                      
     shares outstanding, as                                                        
     adjusted                     282,200      286,923      282,035      287,073   

   Diluted earnings per share       $0.74        $0.62        $2.35        $2.59   


* 1999 results include a net non-operating gain principally from the            
exchange of KVUE-TV in Austin, Texas for KXTV-TV in Sacramento, California. 
1998 results include a net non-operating gain principally from the          
disposition of several businesses including Radio and Alarm Security.       
See Management's Discussion and Analysis of Operations for earnings summary 
excluding net non-operating gains.