Gannett’s net income doubles
Gannett Co., which sold The Honolulu Advertiser in May, more than doubled its net income in the second quarter.
The largest U.S. newspaper publisher said yesterday it earned $195.5 million in the three months ended June 27, compared with $70.5 million in the comparable period last year. Total revenue in the quarter was $1.37 billion, down 1.6 percent from $1.39 billion a year earlier.
Gannett didn’t disclose a sale price for the Advertiser or its profit from it.
The sale of the Advertiser by Gannett to Oahu Publications Inc., publisher of the Honolulu Star-Bulletin and MidWeek, was completed May 3. The two daily papers were combined into the Honolulu Star-Advertiser on June 7.
Second-quarter profit for Gannett equated to 81 cents a share of stock, which included 8 cents a share from the asset sales. A year earlier, profit per share was 30 cents.
Shares of Gannett stock closed down $1.61 at $13.50 yesterday. Gannett’s stock price over the last 52 weeks closed as high as $18.67 on April 26 and as low as $4.56 on July 16, 2009.
3 rail transit contracts awarded
The City and County of Honolulu awarded three rail transit contracts worth $700,000 this month.
» Dyett & Bhatia Urban and Regional Planners received a $200,000 deal to provide consultant services for a land-use ordinance amendment for transit-oriented development.
» AECOM Technical Services Inc. was awarded a $350,000 contract to provide consultant services for an airport neighborhood transit-oriented development plan.
» And RTKL Associates Inc. received a $150,000 contract to provide consultant services for an Ala Moana neighborhood transit-oriented development plan.
Today’s ship arrivals and departures:
On the move
» Forest City Enterprises has named Jon C. Wallenstrom as president of Forest City Hawaii. He previously founded A&E Real Estate.
» Lisa Mizuire has joined Sharon Serene Creative as a graphic designer. She was previously a graphic designer at Pacific Business News.
» Coldwell Banker Pacific Properties has designated two agents as previews team members:
— Sherry Holt-Reese works in the Waikiki office and specializes in the Leeward Coast and North Shore areas.
— Elle Zhang works in the Leeward office and specializes in Kahala and East Oahu areas.
» Hawaii Public Radio news director Kayla Rosenfeld has appointed Dave Lawrence as a full-time staff member of the news department, and he began hosting "All Things Considered" yesterday.
» The American Hotel & Lodging Educational Institute has awarded Todd Nakayama of Waipahu High School the "2010 Lamp of Knowledge Award for Outstanding High School Educator and a Teachers of Excellence Award."