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| Journal Communications Reports July Revenue and Volume for Its Publishing and Broadcast Groups |
Printer Friendly Version (PDF) News Release Printer Friendly Version (PDF) Financial Tables MILWAUKEE--(BUSINESS WIRE)--Aug. 18, 2004--Journal Communications, Inc. (NYSE:JRN) announced today that for the seventh period ended July 25, 2004, revenues for its Publishing and Broadcast groups increased 5.0% to $34.92 million, compared to $33.26 million reported for the seventh period ended July 27, 2003. Both periods contained 28 calendar days. At the Publishing segment for the seventh period ended July 25, 2004, operating revenues at the daily newspaper and the community newspapers and shoppers totaled $23.58 million, up 5.3% from the $22.39 million reported for the seventh period ended July 27, 2003. For the seventh period 2004, advertising revenue was $17.61 million, an increase of 6.7% compared to $16.51 million for the same period of 2003. Circulation revenue of $3.48 million for the seventh period 2004 was essentially flat compared to $3.51 million for the seventh period 2003. Other revenue was up 4.6% in the period year over year. At the daily newspaper for the seventh period ended July 25, 2004, total advertising revenue was $12.66 million, an increase of 10.0% compared to the $11.51 million reported for the seventh period 2003. Specifically, for the seventh period 2004 compared to the seventh period 2003, retail advertising revenue increased 3.9%, classified advertising revenue increased 6.7%, general advertising revenue of $0.65 million was up 9.5% and other advertising revenue increased 55.4% to $1.64 million, due in large part to growth in solo mail. Circulation revenue at the daily newspaper was $3.27 million for the seventh period 2004, essentially flat compared to circulation revenue of $3.29 million for the seventh period 2003. For the seventh period 2004, other revenue at the daily newspaper of $0.27 million was down 17.7% compared to $0.33 million for the seventh period 2003. At the Company's community newspapers and shoppers operations for the seventh period ended July 25, 2004, total advertising revenue was $4.95 million, a decrease of 1.0% compared to the $5.00 million reported for the seventh period 2003. Specifically, for the seventh period 2004 compared to the seventh period 2003, retail advertising revenue decreased 1.0%, classified advertising revenue increased 5.1% and other advertising revenue decreased 39.5% to $0.69 million. Circulation revenue at the community newspapers and shoppers for the seventh period 2004 decreased 4.4% to $0.22 million compared to $0.23 million for the seventh period 2003. For the seventh period 2004, other revenue at the community newspapers and shoppers increased 8.2% compared to the seventh period 2003. At the Broadcasting segment for the seventh period ended July 25, 2004, operating revenue at the Company's radio stations and television stations totaled $11.34 million, an increase of 4.3% from the $10.87 million reported for the seventh period ended July 27, 2003. At the radio group for the seventh period 2004, total operating revenue was $6.02 million, an increase of 1.0% compared to the $5.96 million reported for the seventh period 2003. At the television group for the seventh period 2004, total operating revenue increased 8.4% to $5.32 million, compared to the $4.91 million reported for the seventh period 2003. About Journal Communications Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was founded in 1882. We are a diversified media and communications company with operations in publishing, radio and television broadcasting, telecommunications and printing services. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and more than 90 community newspapers and shoppers in eight states. We own and operate 38 radio stations and six television stations in 11 states and have signed an agreement to purchase WGBA-TV and to assume an existing local marketing agreement for WACY-TV - both located in the Green Bay-Appleton (Wisconsin) market. Through our telecommunications segment, we own and operate a regional fiber optic network in the upper Midwest, provide integrated data communications solutions for small and mid-size businesses and offer network transmission solutions for other service providers. We also provide a wide range of commercial printing services, including publications, professional journals and documentation material, as well as electronic publishing, kit assembly and fulfillment. In addition, we operate niche businesses in label printing and direct marketing services. Tables Follow
Journal Communications, Inc.
Publishing Segment Information (unaudited)
(dollars in thousands)
Publishing operating revenue by category:
----------------------------------------
Seventh period of 2004(A) Seventh period of 2003(B)
------------------------- -------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ----------- ----- --------- ---------- -----
Advertising
revenue:
Retail $5,421 $4,137 $9,558 $5,216 $4,179 $9,395
Classified 4,953 741 5,694 4,644 705 5,349
General 654 -- 654 597 -- 597
Other 1,636 69 1,705 1,053 114 1,167
-------- -------- -------- -------- -------- --------
Total
advertising
revenue 12,664 4,947 17,611 11,510 4,998 16,508
Circulation
revenue 3,269 215 3,484 3,286 225 3,511
Other revenue 269 2,214 2,483 327 2,047 2,374
--------- -------- -------- -------- -------- -------
Total
operating
revenue $16,202 $7,376 $23,578 $15,123 $7,270 $22,393
========= ======== ======== ======== ======== =======
% Change % Change % Change
Daily CN&S Total
-------- -------- ---------
Advertising
revenue:
Retail 3.9 (1.0) 1.7
Classified 6.7 5.1 6.4
General 9.5 -- 9.5
Other 55.4 (39.5) 46.1
Total advertising
revenue 10.0 (1.0) 6.7
Circulation revenue (0.5) (4.4) (0.8)
Other revenue (17.7) 8.2 4.6
Total operating
revenue 7.1 1.5 5.3
Seven periods of 2004(C) Seven periods of 2003(D)
------------------------ ------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ----------- ----- --------- ---------- -----
Advertising
revenue:
Retail $44,725 $31,717 $76,442 $43,548 $32,069 $75,617
Classified 36,672 5,219 41,891 34,902 4,775 39,677
General 6,631 -- 6,631 5,979 -- 5,979
Other 11,154 1,132 12,286 9,699 1,250 10,949
-------- -------- -------- -------- -------- -------
Total
advertising
revenue 99,182 38,068 137,250 94,128 38,094 132,222
Circulation
revenue 24,706 1,613 26,319 24,522 1,657 26,179
Other
revenue 3,591 16,688 20,279 3,088 15,366 18,454
-------- -------- -------- -------- -------- --------
Total
operating
revenue $127,479 $56,369 $183,848 $121,738 $55,117 $176,855
======== ======== ======== ======== ======== ========
% Change % Change % Change
Daily CN&S Total
-------- -------- ---------
Advertising
revenue:
Retail 2.7 (1.1) 1.1
Classified 5.1 9.3 5.6
General 10.9 -- 10.9
Other 15.0 (9.4) 12.2
Total advertising
revenue 5.4 (0.1) 3.8
Circulation revenue 0.8 (2.7) 0.5
Other revenue 16.3 8.6 9.9
Total operating
revenue 4.7 2.3 4.0
(A) 2004 seventh period: June 28, 2004 to July 25, 2004.
(B) 2003 seventh period: June 30, 2003 to July 27, 2003 -- presented
on a basis that conforms with the seventh period of 2004.
(C) Seven periods of 2004: January 1, 2004 to July 25, 2004.
(D) Seven periods of 2003: January 1, 2003 to July 27, 2003 --
presented on a basis that conforms with the seven periods of 2004.
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 operating
revenues for both the period and the year-to-date are not necessarily
indicative of the results that may be expected for the fiscal year
ending December 26, 2004.
Daily newspaper's core newspaper advertising linage by category:
---------------------------------------------------------------
Seventh period (A)(B)
--------------------
2004 2003 % Change
---------- -------- ---------
Advertising linage (inches):
Full run
Retail 49,308 46,686 5.6
Classified 66,299 70,030 (5.3)
General 3,283 3,069 7.0
---------- --------
Total full run 118,890 119,785 (0.7)
Part run 11,415 6,997 63.1
---------- --------
Total advertising linage 130,305 126,782 2.8
========== ========
Preprint pieces (in thousands) 51,262 56,625 (9.5)
========== ========
Full pages of advertising and revenue per page of our
community newspapers and shoppers:
------------------------------------------------------------
Full pages of advertising:
Community newspapers 8,150 8,304 (1.9)
Shoppers 7,006 7,624 (8.1)
---------- --------
Total full pages of advertising 15,156 15,928 (4.8)
========== ========
Revenue per page $298.82 $281.29 6.2
========== ========
Daily newspaper's core newspaper advertising linage
by category:
---------------------------------------------------
Seven periods (C) (D)
-------------------
2004 2003 % Change
---------- -------- ---------
Advertising linage (inches):
Full run
Retail 395,738 388,978 1.7
Classified 491,194 500,944 (1.9)
General 31,631 27,079 16.8
---------- --------
Total full run 918,563 917,001 0.2
Part run 81,957 57,142 43.4
---------- --------
Total advertising linage 1,000,520 974,143 2.7
========== ========
Preprint pieces (in thousands) 425,010 464,820 (8.6)
========== ========
Full pages of advertising and revenue per page of our
community newspapers and shoppers:
------------------------------------------------------------
Full pages of advertising:
Community newspapers 57,520 63,090 (8.8)
Shoppers 50,981 55,534 (8.2)
---------- --------
Total full pages of advertising 108,501 118,624 (8.5)
========== ========
Revenue per page $312.10 $283.82 10.0
========== ========
(A) 2004 seventh period: June 28, 2004 to July 25, 2004.
(B) 2003 seventh period: June 30, 2003 to July 27, 2003 -- presented
on a basis that conforms with the seventh period of 2004.
(C) Seven periods of 2004: January 1, 2004 to July 25, 2004.
(D) Seven periods of 2003: January 1, 2003 to July 27, 2003 --
presented on a basis that conforms with the seven periods of 2004.
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.
Journal Communications, Inc.
Broadcasting Segment Information (unaudited)
(dollars in thousands)
Broadcasting operating revenue by radio and television:
-------------------------------------------------------
Seventh period of 2004 (A) Seventh period of 2003 (B)
---------------------------- ----------------------------
Radio Television Total Radio Television Total
-------- ---------- ------- -------- ---------- --------
Operating
revenue $6,021 $5,319 $11,340 $5,961 $4,908 $10,869
======== ======== ======== ======== ========== ========
% Change % Change % Change
Radio Television Total
-------- ---------- --------
Operating
revenue 1.0 8.4 4.3
Seven periods of 2004 (C) Seven periods of 2003 (D)
---------------------------- ----------------------------
Radio Television Total Radio Television Total
-------- ---------- ------- -------- ---------- -------
Operating
revenue $43,168 $45,061 $88,229 $41,179 $39,597 $80,776
======== ======== ======== ======== ========== ========
% Change % Change % Change
Radio Television Total
--------- ---------- --------
Operating
revenue 4.8 13.8 9.2
(A) 2004 seventh period: June 28, 2004 to July 25, 2004.
(B) 2003 seventh period: June 30, 2003 to July 27, 2003 -- presented
on a basis that conforms with the seventh period of 2004.
(C) Seven periods of 2004: January 1, 2004 to July 25, 2004.
(D) Seven periods of 2003: January 1, 2003 to July 27, 2003 --
presented on a basis that conforms with the seven periods of 2004.
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
operating revenues for both the period and the year-to-date are not
necessarily indicative of the results that may be expected for the
fiscal year ending December 26, 2004.
CONTACT: Journal Communications
Sara Leuchter Wilkins (Investor Relations), 414-224-2633
swilkins@jc.com
SOURCE: Journal Communications
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