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SACRAMENTO, Calif. (AP) - The McClatchy Co., publisher of the Minneapolis Star Tribune and the Sacramento Bee, said Thursday that its first-quarter profit rose 11.8 percent as cost controls helped earnings outpace sales growth.
The company earned $32.3 million, or 69 cents per share, in the period, up from $28.9 million, or 62 cents per share, a year earlier. Revenue increased 3.2 percent to $280.9 million from $272.3 million.
Analysts polled by Thomson Financial were looking for first-quarter earnings of 65 cents per share on sales of $282.5 million.
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