News Release
| << Back |
| Journal Communications Reports October Revenue and Volume for Its Publishing and Broadcast Groups |
Printer Friendly Version (PDF) News Release Printer Friendly Version (PDF) Financial Tables MILWAUKEE--(BUSINESS WIRE)--Nov. 16, 2004--Journal Communications, Inc. (NYSE:JRN) announced today that for the tenth period ended October 24, 2004, total revenues for its Publishing and Broadcast groups increased 13.5% to $43.89 million, compared to $38.65 million reported for the tenth period ended October 26, 2003. For the tenth period 2004, advertising revenues of $37.56 million increased 16.3% compared to $32.31 million for the 2003 tenth period. Both periods contained 28 calendar days. At the Publishing segment for the tenth period ended October 24, 2004, operating revenues at the daily newspaper and the community newspapers and shoppers totaled $26.96 million, up 4.2% from the $25.86 million reported for the tenth period ended October 26, 2003. For the tenth period 2004, advertising revenue was $20.63 million, an increase of 5.7% compared to $19.52 million for the same period of 2003. Circulation revenue of $3.63 million for the tenth period 2004 was down 1.7% compared to $3.69 million for the tenth period 2003. Other revenue was up 1.7% in the period year over year. At the daily newspaper for the tenth period ended October 24, 2004, total advertising revenue was $15.28 million, an increase of 8.0% compared to the $14.14 million reported for the tenth period 2003. Specifically, for the tenth period 2004 compared to the tenth period 2003, retail advertising revenue increased 5.3%, classified advertising revenue increased 7.8% and general advertising revenue decreased 4.7%. Other advertising revenue increased 29.7% to $1.92 million, due in large part to growth in interactive and solo mail. Within classified advertising, the help wanted, real estate, auto and general/other verticals increased 11.6%, 15.8%, 2.8% and 1.8%, respectively. Circulation revenue at the daily newspaper was $3.41 million for the tenth period 2004, a decrease of 1.8% compared to circulation revenue of $3.47 million for the tenth period 2003. For the tenth period 2004, other revenue at the daily newspaper of $0.32 million was down 12.0% compared to $0.36 million for the tenth period 2003. At the Company's community newspapers and shoppers operations for the tenth period ended October 24, 2004, total advertising revenue was $5.36 million, essentially flat compared to the $5.38 million reported for the tenth period 2003. Specifically, for the tenth period 2004 compared to the tenth period 2003, retail advertising revenue decreased 2.2%, classified advertising revenue increased 6.3% and other advertising revenue increased 24.1% to $0.17 million. Circulation revenue at the community newspapers and shoppers for the tenth period 2004 of $0.22 million was flat compared to $0.22 million for the tenth period 2003. For the tenth period 2004, other revenue at the community newspapers and shoppers increased 3.8% to $2.38 million compared to $2.30 million for the tenth period 2003. At the Broadcasting segment for the tenth period ended October 24, 2004, operating revenue at the Company's radio stations and television stations totaled $16.93 million, an increase of 32.4% from the $12.79 million reported for the tenth period ended October 26, 2003. At the radio group for the tenth period 2004, total operating revenue was $7.40 million, an increase of 14.0% compared to the $6.50 million reported for the tenth period 2003. At the television group for the tenth period 2004, total operating revenue of $9.52 million increased 51.4%, propelled by political and issue advertising. This compares to total operating revenue of $6.29 million reported for the tenth period 2003. Revenues for the tenth period 2004 included a one-time year-to-date adjustment which resulted in an increase of $0.33 million for radio and a decrease of $0.17 million for television. 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 seven television stations in 11 states and operate an additional television station under a local marketing agreement. 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 printing for 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:
-----------------------------------------
Tenth period of 2004 (A) Tenth period of 2003 (B)
----------------------------- -----------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- -------- --------- ---------- --------
Advertising
revenue:
Retail $7,285 $4,396 $11,681 $6,918 $4,497 $11,415
Classified 5,171 795 5,966 4,796 748 5,544
General 903 -- 903 948 -- 948
Other 1,918 165 2,083 1,479 133 1,612
--------- -------- --------- --------- -------- ---------
Total
advertising
revenue 15,277 5,356 20,633 14,141 5,378 19,519
Circulation
revenue 3,407 218 3,625 3,468 219 3,687
Other
revenue 316 2,384 2,700 359 2,296 2,655
--------- -------- --------- --------- -------- ---------
Total
operating
revenue $19,000 $7,958 $26,958 $17,968 $7,893 $25,861
========= ======== ========= ========= ======== =========
% Change % Change % Change
Daily CN&S Total
------------ ------------ ------------
Advertising revenue:
Retail 5.3 (2.2) 2.3
Classified 7.8 6.3 7.6
General (4.7) -- (4.7)
Other 29.7 24.1 29.2
Total advertising revenue 8.0 (0.4) 5.7
Circulation revenue (1.8) (0.5) (1.7)
Other revenue (12.0) 3.8 1.7
Total operating revenue 5.7 0.8 4.2
Ten periods of 2004 (C) Ten periods of 2003 (D)
----------------------------- -----------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- -------- --------- ---------- --------
Advertising
revenue:
Retail $66,358 $45,840 $112,198 $64,410 $46,299 $110,709
Classified 53,993 7,702 61,695 50,862 7,248 58,110
General 9,406 -- 9,406 8,841 -- 8,841
Other 16,917 1,644 18,561 14,223 1,696 15,919
--------- -------- --------- --------- -------- ---------
Total
advertising
revenue 146,674 55,186 201,860 138,336 55,243 193,579
Circulation
revenue 35,737 2,387 38,124 35,946 2,372 38,318
Other
revenue 4,621 24,125 28,746 4,020 22,559 26,579
--------- -------- --------- --------- -------- ---------
Total
operating
revenue $187,032 $81,698 $268,730 $178,302 $80,174 $258,476
========= ======== ========= ========= ======== =========
% Change % Change % Change
Daily CN&S Total
------------ ------------ ------------
Advertising revenue:
Retail 3.0 (1.0) 1.3
Classified 6.2 6.3 6.2
General 6.4 -- 6.4
Other 18.9 (3.1) 16.6
Total advertising revenue 6.0 (0.1) 4.3
Circulation revenue (0.6) 0.6 (0.5)
Other revenue 15.0 6.9 8.2
Total operating revenue 4.9 1.9 4.0
(A) 2004 tenth period: September 27, 2004 to October 24, 2004.
(B) 2003 tenth period: September 29, 2003 to October 26, 2003 --
presented on a basis that conforms with the tenth period of 2004.
(C) Ten periods of 2004: January 1, 2004 to October 24, 2004.
(D) Ten periods of 2003: January 1, 2003 to October 26, 2003 --
presented on a basis that conforms with the ten 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:
----------------------------------------------------------------
Tenth period (A) (B)
---------------------
2004 2003 % Change
---------- ---------- ------------
Advertising linage (inches):
Full run
Retail 67,020 66,639 0.6
Classified 67,523 68,860 (1.9)
General 4,003 4,081 (1.9)
---------- ----------
Total full run 138,546 139,580 (0.7)
Part run 17,570 10,333 70.0
---------- ----------
Total advertising linage 156,116 149,913 4.1
========== ==========
Preprint pieces (in thousands) 64,407 63,453 1.5
========== ==========
Full pages of advertising and revenue per page of our community
newspapers and shoppers:
---------------------------------------------------------------
Full pages of advertising:
Community newspapers 8,224 9,084 (9.5)
Shoppers and specialty products 8,611 9,108 (5.5)
---------- ----------
Total full pages of advertising 16,835 18,192 (7.5)
========== ==========
Revenue per page $284.67 $263.40 8.1
========== ==========
Daily newspaper's core newspaper advertising linage by category:
----------------------------------------------------------------
Ten periods (C) (D)
---------------------
2004 2003 % Change
---------- ---------- ------------
Advertising linage (inches):
Full run
Retail 592,075 588,662 0.6
Classified 717,849 735,314 (2.4)
General 44,144 40,843 8.1
---------- ----------
Total full run 1,354,068 1,364,819 (0.8)
Part run 139,041 96,438 44.2
---------- ----------
Total advertising linage 1,493,109 1,461,257 2.2
========== ==========
Preprint pieces (in thousands) 631,050 672,225 (6.1)
========== ==========
Full pages of advertising and revenue per page of our community
newspapers and shoppers:
---------------------------------------------------------------
Full pages of advertising:
Community newspapers 83,180 91,302 (8.9)
Shoppers and specialty products 90,168 94,691 (4.8)
---------- ----------
Total full pages of advertising 173,348 185,993 (6.8)
========== ==========
Revenue per page $283.64 $263.28 7.7
========== ==========
(A) 2004 tenth period: September 27, 2004 to October 24, 2004.
(B) 2003 tenth period: September 29, 2003 to October 26, 2003 --
presented on a basis that conforms with the tenth period of 2004.
(C) Ten periods of 2004: January 1, 2004 to October 24, 2004.
(D) Ten periods of 2003: January 1, 2003 to October 26, 2003 --
presented on a basis that conforms with the ten 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:
-------------------------------------------------------
Tenth period of 2004 (A) Tenth period of 2003 (B)
------------------------------ ------------------------------
Radio Television Total Radio Television Total
--------- ---------- --------- --------- ---------- ---------
Operating
revenue $7,404 $9,523 $16,927 $6,497 $6,292 $12,789
========= ========== ========= ========= ========== =========
% Change % Change % Change
Radio Television Total
---------- ----------- ----------
Operating revenue 14.0 51.4 32.4
Ten periods of 2004 (C) Ten periods of 2003 (D)
------------------------------ ------------------------------
Radio Television Total Radio Television Total
--------- ----------- -------- --------- ----------- --------
Operating
revenue $66,324 $71,450 $137,774 $62,597 $58,583 $121,180
========= ========== ========= ========= ========== =========
% Change % Change % Change
Radio Television Total
----------- ----------- -----------
Operating revenue 6.0 22.0 13.7
(A) 2004 tenth period: September 27, 2004 to October 24, 2004.
(B) 2003 tenth period: September 29, 2003 to October 26, 2003 --
presented on a basis that conforms with the tenth period of 2004.
(C) Ten periods of 2004: January 1, 2004 to October 24, 2004.
(D) Ten periods of 2003: January 1, 2003 to October 26, 2003 --
presented on a basis that conforms with the ten 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, Inc.
Sara Leuchter Wilkins, 414-224-2633
swilkins@jc.com
SOURCE: Journal Communications, Inc.
|