Gannett Co. Inc. reported a decrease in quarterly profits today because of falling print advertising sales, including a 16 percent drop in classified ad revenues, Reuters reported. The company said first-quarter net income fell 8.9 percent to $191.8 million, or 84 cents a share, from $210.6 million, or 90 cents a share, a year earlier. Revenues fell 8.4 percent to $1.7 billion. First-quarter advertising revenues in the publishing unit fell 8.3 percent to $1.1 billion, with retail ad revenues falling 7.8 percent and national revenues flat.

Lee Enterprises Inc. said today it lost $4.45 million, or 10 cents a share, in the quarter ended March 30, the Associated Press reported. A year ago, the company reported it earned $11.9 million, or 26 cents a share. Excluding one-time charges, Lee earned 8 cents a share in the second quarter, compared with 19 cents a year ago. Sales fell 4.7 percent to $247.7 million for the quarter and circulation revenues slipped 1.7 percent to $49.1 million. Total advertising revenues decreased 5.7 percent to $186.1 million from $197.4 million in the year-earlier quarter.

Motor home manufacturer Winnebago Industries Inc. said last week it will shut down most of its production lines for a week beginning today, the result of a continued slowdown in sales, the Associated Press reported. Low consumer confidence in the economy and interest rates are the two primary factors that affect business, company spokeswoman Sheila Davis said Friday. The company typically shuts down production for a week around Christmas and a week in late July. In March, Winnebago reported that second-quarter profits fell nearly 67 percent.

Bank of America Corp. said today that profits dropped for a third straight quarter as the company set aside $6.01 billion for bad loans, Bloomberg reported. First-quarter net income declined 77 percent to $1.21 billion from $5.26 billion a year earlier, the bank today in a statement. Results included $1.31 billion in trading losses and $2.72 billion in costs for uncollectible loans. Earnings per share shrank to 23 cents from $1.16. Revenues fell 6 percent to $17.3 billion. Profits decreased 59 percent to $1.09 billion in the consumer and small business unit, and dropped 92 percent to $115 million at the corporate and investment bank.

Earnings for these companies with operations in Central Iowa will be released tomorrow: E.I. du Pont de Nemours & Co. (first quarter, conference call at 8 a.m.) and Meredith Corp. (third quarter, conference call at 10 a.m.).

Bravo Greater Des Moines is looking for an executive director to manage the nonprofit organization’s grantmaking activities and strategic work plan. Details about the newly created position are available at www.desmoinesfoundation.org. Bravo is now accepting grant requests for the fiscal year beginning July 1. Organizations interested in applying for funding can find the application on Bravo’s Web site. This year’s applications are due by noon on June 2. For questions regarding this year’s Cultural Enrichment grant application, call Leisha Barcus at 288-1954 or attend a Bravo Grant Applicant Coffee and Open House on May 1 from 7:30 to 9 a.m. at the Finkbine Mansion, 1915 Grand Ave. in Des Moines. Metro Arts Alliance’s “Jazz in July” series will be back this summer through funding from the Greater Des Moines Community Foundation two-year grant. Metro Arts expects to announce this year’s venues and performing groups by June 1.