NEW YORK – McClatchy Co. says second-quarter earnings fell 44 percent as ad revenue continued to shrink.

The Dallas-based publisher said Thursday net income slid to $19.7 million, or 24 cents per share, from $35.2 million, or 43 cents per share, a year ago.

The result adjusted to exclude one-time items is $17.3 million, or 21 cents per share. That is equal to the average estimate of analysts surveyed by Thomson Financial.

Revenue dropped 16 percent to $489.7 million, as advertising sales shrank 17 percent.

McClatchy papers include the Miami Herald and Sacramento Bee.