Brief: FP Newspapers says plans to reduce employee compensation costs by further $2.2 mln in 2017

Fp Newspapers

17/03/2017 21:51

March 17 (Reuters) - Fp Newspapers Inc  FP.V  
    * Fp newspapers inc. Reports fourth quarter 2016 results 
    * Fp newspapers inc -  revenue for three months ended dec 
31, 2016 was $20.9 million, a decrease of $2.2 million or 9.7% 
from same three months in prior year 
    * Fp newspapers inc says expect declining print advertising 
revenue trend that's been experienced for past number of years 
will continue in 2017 
    * Fp newspapers inc - due to continued declines in revenue 
and earnings, fplp recorded an impairment charge relating to 
goodwill of $10.0 million during q4 
    * Fp newspapers inc - "print ad revenues for first two 
months of 2017 are showing a 15.0% decline versus same period 
last year" 
    * Fp newspapers -in 2017 planning to reduce employee 
compensation costs by  further $2.2 million through combination 
of retirements, voluntary,involuntary layoffs 
    * Qtrly loss per share $0.601 
 
Source text for Eikon:  ID:nCCN42WfgH  
Further company coverage:  FP.V  
 
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