Gannett Co. Inc. reported net income of $70.5 million, or 30 cents per share, for the 13 weeks ended June 28, as lower operating expenses helped offset a decline in advertising revenues.

This compares with a net loss of $2.3 billion, or $10.03 per share, in the 13 weeks ended June 29, 2008.

“We continue to position the company for the eventual rebound in the economy and the evolving media landscape as we navigate through this unprecedented economic storm,” said Gracia Martore, executive vice president and chief financial officer, in a release.

Excluding several special items, earnings per diluted share for the second quarter were 46 cents compared with $1.04 a year ago. Results for the second quarter include a $42.7 million pre-tax gain related to the company’s debt exchange, $16.6 million in pre-tax costs related to workforce restructuring and facility consolidations, $47.4 million of pre-tax non-cash charges related primarily to asset impairments in the company’s publishing segment and a $28 million non-cash charge for asset write-downs.

Total reported operating revenues were $1.4 billion, compared with $1.7 billion a year ago. Operating expenses were $1.3 billion, down 67 percent from a year ago, primarily due to the significant non-cash impairment charges in 2008.

Publishing operating revenues fell 25.8 percent to $1.1 billion, with advertising revenues down 32 percent to $753.1 million. Lower revenues were partially mitigated by a 20.3 percent drop in expenses, which included staff reductions and furloughs.

Broadcasting revenues were $153 million compared with $192.6 million a year ago, with weakness in automotive and retail advertising. Operating expenses were down 9.4 percent. Meanwhile, the company’s digital operating revenues were $142.4 million, up from $20 million in 2008, primarily due to the consolidation of CareerBuilder and ShopLocal.

Last week, Gannett laid off 1,400 people in its U.S. community publishing division, including 36 at The Des Moines Register.