CHICAGO, Aug. 02, 2017 (GLOBE NEWSWIRE) -- tronc, Inc. (NASDAQ:TRNC) today announced financial results for the second quarter ended June 25, 2017.
Second Quarter 2017 Financial Summary and Highlights:
- Digital only subscribers were 220,000 in second quarter 2017, up 89% year-over-year
- Total revenues of $369.8 million, down 8.6% compared to second quarter 2016
- Total operating expenses decreased $38.8 million compared to second quarter 2016
- Net income was $6.8 million, or $0.21 per share, compared to $4.1 million, or $0.12 per share, in second quarter 2016
- Adjusted EBITDA was $44.0 million, up slightly from prior year quarter
- Cash on the balance sheet was $174.2 million providing substantial liquidity for the Company to execute its strategy in 2017 and beyond
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