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| Journal Communications Reports August Revenue and Volume for Its Publishing and Broadcast Groups |
Printer Friendly Version (PDF) News Release Printer Friendly Version (PDF) Financial Tables MILWAUKEE--(BUSINESS WIRE)--Sept. 19, 2007--Journal Communications, Inc. (NYSE:JRN) announced today that for the eighth period ended August 26, 2007, total revenues from continuing operations for its Publishing and Broadcast groups of $36.96 million decreased 7.5% compared to $39.96 million reported for the eighth period ended August 20, 2006. For the eighth period 2007, advertising revenues from continuing operations of $31.80 million decreased 8.6% compared to $34.79 million for the 2006 eighth period. Both periods contained 28 days. Note that unless otherwise indicated, all comparisons are to the eighth period ended August 20, 2006. At the Publishing segment, revenues from continuing operations at the daily newspaper and the community newspapers and shoppers totaled $20.35 million, down 6.9% compared to $21.87 million. Advertising revenue from continuing operations was $15.19 million, down 9.0% compared to $16.70 million. Circulation revenue from continuing operations of $4.08 million was down 3.2% compared to $4.21 million. Other revenue from continuing operations of $1.08 million was up 13.4%. At the daily newspaper, total advertising revenue was $12.52 million, down 6.5% compared to $13.39 million. Specifically, retail advertising was down 2.0%, classified advertising revenue was down 11.4%, national advertising revenue of $0.80 million increased 20.4% and direct marketing revenue of $0.17 million was down 60.0%. Within classified advertising, the auto and other verticals increased 1.1% and 2.5%, respectively, and the help wanted and real estate/rentals verticals were down 13.9% and 20.1%, respectively. Circulation revenue at the daily newspaper was $4.00 million, down 0.8% compared to $4.03 million. Other revenue at the daily newspaper of $0.73 million was up 2.4% compared to $0.72 million. Total interactive advertising revenue at the daily newspaper, which is reflected in the various revenue categories, increased 35.0% to $1.15 million compared to $0.85 million. At the Company's community newspapers and shoppers operations, total advertising revenue from continuing operations was $2.67 million, down 19.3% compared to $3.31 million. This largely reflects certain revenue previously reported by the community newspapers and shoppers division that is now reported under the daily newspaper. Specifically, retail advertising revenue from continuing operations was down 17.8%, classified advertising revenue from continuing operations decreased 23.6% and other advertising revenue from continuing operations of $0.02 million was down 41.4%. Circulation revenue from continuing operations at the community newspapers and shoppers of $0.08 million decreased 57.2%, largely reflecting the change to a free distribution model of our Milwaukee-area community newspapers. Other revenue from continuing operations at the community newspapers and shoppers of $0.35 million increased 46.4%. At the Broadcasting segment, total revenue at the Company's radio and television stations of $16.61 million decreased 8.2% compared to $18.09 million. At the radio group, revenue of $7.22 million was flat. On a same-station basis (excluding revenue generated by KBBX-FM, which was sold in September 2006 and KOMJ-AM, which was sold earlier this year), radio revenue for the eighth period 2007 increased 1.8%. At the television group, revenue decreased 13.7% to $9.39 million compared to $10.88 million, primarily due to a decline in political and issue advertising revenue of $1.41 million and a reduction in national advertising revenue. Forward-looking Statements This press release contains certain forward-looking statements related to our businesses that are based on our current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Our written policy on forward-looking statements can be found on page 1 of our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission. About Journal Communications
Journal Communications, Inc., headquartered in Milwaukee,
Wisconsin, was founded in 1882. We are a diversified media company
with operations in publishing, radio and television broadcasting,
interactive media and printing services. We publish the Milwaukee
Journal Sentinel, which serves as the only major daily newspaper for
the Milwaukee metropolitan area, and 44 community newspapers and
shoppers in Wisconsin and Florida. We own and operate 35 radio
stations and ten television stations in 12 states and operate one
television station under a local marketing agreement. Our interactive
media assets include more than 75 online enterprises that are
associated with our daily and community newspapers, television and
radio stations. We also provide a wide range of commercial printing
services -- including printing of publications, professional journals
and documentation material -- and operate a direct marketing services
business.
Tables Follow
Journal Communications, Inc.
Publishing Segment Information (unaudited)
(dollars in thousands)
Publishing revenue by category:
-------------------------------
Eighth period of 2007 (A)
--------------------------------
Community
Daily Newspapers
Newspaper & Shoppers Total
---------- ---------- ----------
Advertising revenue:
Retail $6,786 $2,119 $8,905
Classified 4,757 538 5,295
National 804 -- 804
Direct Marketing 169 -- 169
Other -- 17 17
---------- ---------- ----------
Total advertising revenue 12,516 2,674 15,190
Circulation revenue 4,000 77 4,077
Other revenue 733 350 1,083
---------- ---------- ----------
Total revenue $17,249 $3,101 $20,350
========== ========== ==========
Eighth period of 2006 (A)
--------------------------------
Community
Daily Newspapers
Newspaper & Shoppers Total
---------- ---------- ----------
Advertising revenue:
Retail $6,926 $2,579 $9,505
Classified 5,370 704 6,074
National 668 -- 668
Direct Marketing 422 -- 422
Other -- 29 29
---------- ---------- ----------
Total advertising revenue 13,386 3,312 16,698
Circulation revenue 4,033 180 4,213
Other revenue 716 239 955
---------- ---------- ----------
Total revenue $18,135 $3,731 $21,866
========== ========== ==========
% Change % Change % Change
Daily CN&S Total
---------- ---------- ----------
Advertising revenue:
Retail (2.0) (17.8) (6.3)
Classified (11.4) (23.6) (12.8)
National 20.4 N/A 20.4
Direct Marketing (60.0) N/A (60.0)
Other N/A (41.4) (41.4)
Total advertising revenue (6.5) (19.3) (9.0)
Circulation revenue (0.8) (57.2) (3.2)
Other revenue 2.4 46.4 13.4
Total revenue (4.9) (16.9) (6.9)
Eight periods of 2007 (B)
--------------------------------
Community
Daily Newspapers
Newspaper & Shoppers Total
---------- ---------- ----------
Advertising revenue:
Retail $56,187 $19,223 $75,410
Classified 40,422 4,104 44,526
National 5,785 -- 5,785
Direct Marketing 2,516 -- 2,516
Other -- 288 288
---------- ---------- ----------
Total advertising revenue 104,910 23,615 128,525
Circulation revenue 33,430 732 34,162
Other revenue 7,963 2,726 10,689
---------- ---------- ----------
Total revenue $146,303 $27,073 $173,376
========== ========== ==========
Eight periods of 2006 (B)
--------------------------------
Community
Daily Newspapers
Newspaper & Shoppers Total
---------- ---------- ----------
Advertising revenue:
Retail $53,066 $22,860 $75,926
Classified 43,296 5,379 48,675
National 6,698 -- 6,698
Direct Marketing 3,794 -- 3,794
Other -- 496 496
---------- ---------- ----------
Total advertising revenue 106,854 28,735 135,589
Circulation revenue 33,736 1,479 35,215
Other revenue 6,876 2,113 8,989
---------- ---------- ----------
Total revenue $147,466 $32,327 $179,793
========== ========== ==========
% Change % Change % Change
Daily CN&S Total
---------- ---------- ----------
Advertising revenue:
Retail 5.9 (15.9) (0.7)
Classified (6.6) (23.7) (8.5)
National (13.6) N/A (13.6)
Direct Marketing (33.7) N/A (33.7)
Other N/A (41.9) (41.9)
Total advertising revenue (1.8) (17.8) (5.2)
Circulation revenue (0.9) (50.5) (3.0)
Other revenue 15.8 29.0 18.9
Total revenue (0.8) (16.3) (3.6)
(A) 2007 eighth period: July 30, 2007 to August 26, 2007.
2006 eighth period: July 24, 2006 to August 20, 2006.
(B) Eight periods of 2007: January 1, 2007 to August 26, 2007.
Eight periods of 2006: December 26, 2005 to August 20, 2006.
NOTE:
Publishing segment information is provided to facilitate comparison of
our publishing segment results with those of other publishing
companies and is not representative of the overall business of
Journal Communications or its operating results. The revenues for the
period are not necessarily indicative of the results that may be
expected for the fiscal year ending December 30, 2007.
Daily newspaper's core newspaper advertising linage by category and
core newspaper and shared mail preprint pieces:
----------------------------------------------------------------------
Eighth period (A)
-------------------
2007 2006 % Change
--------- --------- ---------
Advertising linage (inches):
Full run
Retail 44,869 49,507 (9.4)
Classified 42,817 52,344 (18.2)
National 3,966 3,341 18.7
--------- ---------
Total full run 91,652 105,192 (12.9)
Part run 5,221 10,182 (48.7)
--------- ---------
Total advertising linage 96,873 115,374 (16.0)
========= =========
Preprint pieces (in thousands) 62,732 66,446 (5.6)
========= =========
Total pages and revenue per page of our community newspapers and
shoppers:
----------------------------------------------------------------------
Total pages:
Community newspapers 3,736 4,836 (22.7)
Shoppers and specialty products 3,760 5,101 (26.3)
--------- ---------
Total pages 7,496 9,937 (24.6)
========= =========
Revenue per page $322.23 $300.21 7.3
========= =========
Daily newspaper's core newspaper advertising linage by category and
core newspaper and shared mail preprint pieces:
----------------------------------------------------------------------
Eight periods (B)
-------------------
2007 2006 % Change
--------- --------- ---------
Advertising linage (inches):
Full run
Retail 386,489 423,920 (8.8)
Classified 371,680 436,770 (14.9)
National 27,822 37,024 (24.9)
--------- ---------
Total full run 785,991 897,714 (12.4)
Part run 25,587 73,571 (65.2)
--------- ---------
Total advertising linage 811,578 971,285 (16.4)
========= =========
Preprint pieces (in thousands) 534,066 543,138 (1.7)
========= =========
Total pages and revenue per page of our community newspapers and
shoppers:
----------------------------------------------------------------------
Total pages:
Community newspapers 31,968 48,250 (33.7)
Shoppers and specialty products 32,133 38,887 (17.4)
--------- ---------
Total pages 64,101 87,137 (26.4)
========= =========
Revenue per page $329.81 $293.17 12.5
========= =========
(A) 2007 eighth period: July 30, 2007 to August 26, 2007.
2006 eighth period: July 24, 2006 to August 20, 2006.
(B) Eight periods of 2007: January 1, 2007 to August 26, 2007.
Eight periods of 2006: December 26, 2005 to August 20, 2006.
NOTE: Publishing segment information is provided to facilitate
comparison of our publishing segment results with those of other
publishing companies and is not representative of the overall
business of Journal Communications or its operating results. All data
are subject to later adjustment.
Journal Communications, Inc.
Broadcasting Segment Information (unaudited)
(dollars in thousands)
Broadcasting revenue by radio and television:
---------------------------------------------
Eighth period of 2007 (A) Eighth period of 2006 (A)
---------------------------- ----------------------------
Radio Television Total Radio Television Total
-------- ---------- -------- -------- ---------- --------
Revenue $7,218 $9,391 $16,609 $7,215 $10,878 $18,093
======== ========== ======== ======== ========== ========
% Change % Change % Change
Radio Television Total
---------- ---------- ----------
Revenue 0.0 (13.7) (8.2)
Eight periods of 2007 (B) Eight periods of 2006 (B)
----------------------------- ----------------------------
Radio Television Total Radio Television Total
-------- ----------- -------- -------- ---------- --------
Revenue $53,688 $85,664 $139,352 $53,239 $90,834 $144,073
======== =========== ======== ======== ========== ========
% Change % Change % Change
Radio Television Total
---------- ---------- ----------
Revenue 0.8 (5.7) (3.3)
(A) 2007 eighth period: July 30, 2007 to August 26, 2007.
2006 eighth period: July 24, 2006 to August 20, 2006.
(B) Eight periods of 2007: January 1, 2007 to August 26, 2007.
Eight periods of 2006: December 26, 2005 to August 20, 2006.
NOTE: Broadcasting segment information is provided to facilitate
comparison of our broadcasting segment results with those of other
broadcasting companies and is not representative of the overall
business of Journal Communications or its operating results. The
revenues for the period are not necessarily indicative of the results
that may be expected for the fiscal year ending December 30, 2007.
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