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McCLATCHY NEWSPAPERS REPORTS SECOND QUARTER EARNINGS

 SACRAMENTO, Calif., July 19 /PRNewswire/ -- McClatchy Newspapers, Inc. (NYSE: MNI) today reported second quarter earnings of $8.5 million or 29.5 cents per share, up 2.5 cents from 1992 earnings of $7.8 million or 27 cents per share.
 Second quarter revenues increased 2.1 percent to $113.5 million. Advertising revenues were up 1.3 percent to $88.6 million and circulation revenues posted a 5.6 percent gain to $20.9 million. Operating expenses increased 1.7 percent resulting in operating income gains of 4.4 percent.
 Earnings for the first half of 1993 rose 10.9 percent to $13.3 million or 46 cents per share versus $12.0 million or 42 cents in 1992.
 Revenues in the first half of the year were $218.7 million, up 3.0 percent over 1992. Advertising revenues increased 2.1 percent to $169.6 million and circulation revenues rose 6.4 percent to $41.8 million. Operating income was $27.5 million, a 5.3 percent gain over the prior year.
 Erwin Potts, chief executive officer, said, "The slowdown in advertising activity that began in March continued through the second quarter at our company as it did throughout much of the country. Classified advertising activity, particularly in Sacramento and Modesto (California), was quite sluggish in the quarter."
 "Our gains in revenues and income in the second quarter and first half are largely attributable to strong performances at our newspapers in Fresno, Calif., Washington state and Anchorage, Alaska, and company- wide cost controls. However, with no abatement of the California recession in sight, we are cautious about the second half of 1993."
 With headquarters in Sacramento, McClatchy Newspapers publishes 12 daily newspapers and eight non-daily newspapers located principally in western coastal states and South Carolina. It also publishes a group of senior citizen tabloids in the West, and is one of six partners in the Ponderay newsprint mill in Usk, Wash.
 McCLATCHY NEWSPAPERS, INC.
 Summary of Unaudited Results
 (in thousands, except per share amounts)
 Quarter Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues - net $113,458 $111,169 $218,740 $212,461
 Operating expenses:
 Compensation 50,282 49,405 99,974 97,481
 Newsprint and supplement 15,409 15,443 29,598 29,723
 Depreciation and
 amortization 8,742 8,297 17,407 16,433
 Other operating expense 22,063 21,778 44,253 42,697
 Total 96,496 94,923 191,232 186,334
 Operating income 16,962 16,246 27,508 26,127
 Partnership loss 1,450 1,837 3,250 3,240
 Other nonoperating
 expenses - net 35 268 339 667
 Income before taxes and
 cumulative effects of
 accounting changes 15,477 14,141 23,919 22,220
 Income tax provision 6,963 6,310 10,637 9,901
 Income before cumulative
 effects of accounting
 changes 8,514 7,831 13,282 12,319
 Cumulative effects of
 accounting changes:
 Postretirement benefits
 (net of tax) -- -- -- (4,627)
 Income taxes -- -- -- 4,286
 Net income $8,514 $7,831 $13,282 $11,978
 Earnings per share:
 Earnings before cumulative
 effects $0.295 $0.27 $0.46 $0.43
 Cumulative effects:
 Postretirement benefits
 (net of tax) -- -- -- (0.16)
 Income taxes -- -- -- 0.15
 Net income per share $0.295 $0.27 $0.46 $0.42
 Weighted average shares
 outstanding 28,829 28,761 28,833 28,754
 -0- 7/19/93
 /CONTACT: Elaine Lintecum. corporate financial analyst, of McClatchy Newspapers, 916-321-1846/
 (MNI)


CO: McClatchy Newspapers Inc. ST: California IN: PUB SU: ERN

TM -- SF008 -- 3069 07/19/93 12:51 EDT
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Date:Jul 19, 1993
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