The McClatchy Company announced unaudited consolidated earnings results for the first quarter ended March 26, 2017. For the quarter, the company reported net revenues were $221.212 million against $237.979 million a year ago. Operating loss was $4.519 million against $2.353 million a year ago. Loss before income taxes was $151.024 million against $22.856 million a year ago. Net loss was $95.575 million against $12.741 million a year ago. Diluted loss per share was $12.60 against $1.58 a year ago. LBITDA was $110.766 million compared to EBITDA of $21.953 million a year ago. Adjusted EBITDA was $23.108 million compared to $30.843 million a year ago. Adjusted net loss was $14.487 million compared to $7.888 million a year ago. The company finished the quarter with $23.8 million in cash, resulting in net debt of $849.9 million.

As noted earlier, management expects improving performance in adjusted EBITDA compared to the level of decline in the first quarter of 2017. The company expects to grow digital-only advertising revenue at a double-digit rate for all of 2017, improving on the full-year trend seen in 2016.