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| Journal Communications Reports December Revenue and Volume for Its Publishing and Broadcast Groups |
Printer Friendly Version (PDF) News Release Printer Friendly Version (PDF) Financial Tables MILWAUKEE--(BUSINESS WIRE)--Feb. 3, 2005--Journal Communications, Inc. (NYSE:JRN) announced today that for the twelfth period ended December 26, 2004, total revenues for its Publishing and Broadcast groups increased 2.2% to $50.09 million, compared to $48.99 million reported for the twelfth period ended December 31, 2003. For the twelfth period 2004, advertising revenues of $42.65 million increased 4.4% compared to $40.86 million for the 2003 twelfth period. Included in both the total revenues and the advertising revenues for Period 12 is a $1.02 million contribution from the Green Bay television operations, which were acquired on October 6, 2004. It is important to note that the twelfth period 2003 contained 38 days while the twelfth period 2004 contained 35 days, due to the change in our accounting calendar in 2004. At the Publishing segment for the twelfth period ended December 26, 2004, revenues at the daily newspaper and the community newspapers and shoppers totaled $32.47 million, essentially flat compared to the $32.46 million reported for the twelfth period ended December 31, 2003. For the twelfth period 2004, advertising revenue was $25.03 million, an increase of 2.9% compared to $24.33 million for the same period of 2003. Circulation revenue of $4.36 million for the twelfth period 2004 was down 9.1% compared to $4.79 million for the twelfth period 2003. Other revenue was down 7.5% in the period year over year. At the daily newspaper for the twelfth period ended December 26, 2004, total advertising revenue was $19.00 million, an increase of 5.0% compared to the $18.09 million reported for the twelfth period 2003. Specifically, for the twelfth period 2004 compared to the twelfth period 2003, retail advertising revenue increased 3.9%, classified advertising revenue decreased 3.5% and general advertising revenue increased 3.5%. Other advertising revenue increased 30.0% to $2.91 million, due to growth in interactive. Within classified advertising, the help wanted, real estate and general/other verticals increased 6.0%, 10.1% and 11.5%, respectively, and auto decreased 24.0%. Circulation revenue at the daily newspaper was $4.10 million for the twelfth period 2004, a decrease of 9.2% compared to circulation revenue of $4.52 million for the twelfth period 2003. For the twelfth period 2004, other revenue at the daily newspaper of $0.37 million was down 22.6% compared to $0.48 million for the twelfth period 2003. At the Company's community newspapers and shoppers operations for the twelfth period ended December 26, 2004, total advertising revenue was $6.03 million, down 3.4% compared to the $6.25 million reported for the twelfth period 2003. Specifically, for the twelfth period 2004 compared to the twelfth period 2003, retail advertising revenue decreased 3.0%, classified advertising revenue decreased 7.2% and other advertising revenue increased 1.4% to $0.15 million. Circulation revenue at the community newspapers and shoppers for the twelfth period 2004 of $0.26 million was down 6.9% compared to $0.28 million for the twelfth period 2003. For the twelfth period 2004, other revenue at the community newspapers and shoppers decreased 5.0% to $2.71 million compared to $2.85 million for the twelfth period 2003. At the Broadcasting segment for the twelfth period ended December 26, 2004, total revenue at the Company's radio stations and television stations increased 6.6% to $17.62 million, including the $1.02 million contribution of the Green Bay television operations. This compares to total revenue of $16.53 million reported for the twelfth period ended December 31, 2003. At the radio group for the twelfth period 2004, revenue was $8.57 million, essentially flat compared to revenue of $8.63 million reported for the twelfth period 2003. At the television group for the twelfth period 2004, revenue increased 14.5% $9.04 million, including the $1.02 million contribution of the Green Bay operations. This compares to revenue of $7.90 million reported for the twelfth 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 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 a direct marketing services business.
Tables Follow
Journal Communications, Inc.
Publishing Segment Information (unaudited)
(dollars in thousands)
Publishing revenue by category:
-------------------------------
Twelfth period of 2004 (A) Twelfth period of 2003 (B)
----------------------------- ----------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- -------- --------- ---------- -------
Advertising
revenue:
Retail $10,072 $5,189 $15,261 $9,698 $5,351 $15,049
Classified 4,904 697 5,601 5,080 751 5,831
General 1,112 -- 1,112 1,074 -- 1,074
Other 2,909 145 3,054 2,237 143 2,380
--------- ---------- -------- --------- ---------- -------
Total
advertising
revenue 18,997 6,031 25,028 18,089 6,245 24,334
Circulation
revenue 4,103 257 4,360 4,518 276 4,794
Other
revenue 374 2,709 3,083 483 2,851 3,334
--------- ---------- -------- --------- ---------- -------
Total
revenue $23,474 $8,997 $32,471 $23,090 $9,372 $32,462
========= ========== ======== ========= ========= =======
% Change % Change % Change
Daily CN&S Total
------------- ------------- -------------
Advertising revenue:
Retail 3.9 (3.0) 1.4
Classified (3.5) (7.2) (3.9)
General 3.5 -- 3.5
Other 30.0 1.4 28.3
Total advertising revenue 5.0 (3.4) 2.9
Circulation revenue (9.2) (6.9) (9.1)
Other revenue (22.6) (5.0) (7.5)
Total revenue 1.7 (4.0) 0.0
Twelve periods of 2004 (C) Twelve periods of 2003 (D)
----------------------------- ----------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- -------- --------- ---------- -------
Advertising
revenue:
Retail $83,499 $55,496 $138,995 $80,733 $56,115 $136,848
Classified 63,805 9,112 72,917 60,658 8,676 69,334
General 11,527 -- 11,527 10,985 -- 10,985
Other 21,704 1,907 23,611 18,190 1,975 20,165
--------- ---------- -------- --------- ---------- -------
Total
advertising
revenue 180,535 66,515 247,050 170,566 66,766 237,332
Circulation
revenue 43,225 2,868 46,093 43,903 2,863 46,766
Other
revenue 5,335 29,209 34,544 5,144 27,734 32,878
--------- ---------- -------- --------- ---------- -------
Total
revenue $229,095 $98,592 $327,687 $219,613 $97,363 $316,976
========= ========== ======== ========= ========= =======
% Change % Change % Change
Daily CN&S Total
------------- ------------- -------------
Advertising revenue:
Retail 3.4 (1.1) 1.6
Classified 5.2 5.0 5.2
General 4.9 -- 4.9
Other 19.3 (3.4) 17.1
Total advertising revenue 5.8 (0.4) 4.1
Circulation revenue (1.5) 0.2 (1.4)
Other revenue 3.7 5.3 5.1
Total revenue 4.3 1.3 3.4
(A) 2004 twelfth period: November 22, 2004 to December 26, 2004.
(B) 2003 twelfth period: November 24, 2003 to December 31, 2003.
(C) Twelve periods of 2004: January 1, 2004 to December 26, 2004.
(D) Twelve periods of 2003: January 1, 2003 to December 31, 2003.
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.
Daily newspaper's core newspaper advertising linage by category:
----------------------------------------------------------------
Twelfth period (A) (B)
-----------------------
2004 2003 % Change
----------- ----------- -----------
Advertising linage (inches):
Full run
Retail 73,845 76,434 (3.4)
Classified 69,223 76,218 (9.2)
General 5,610 5,590 0.4
----------- -----------
Total full run 148,678 158,242 (6.0)
Part run 16,894 16,828 0.4
----------- -----------
Total advertising linage 165,572 175,070 (5.4)
=========== ===========
Preprint pieces (in thousands) 103,659 97,029 6.8
=========== ===========
Full pages of advertising and revenue per page of our community
newspapers and shoppers:
---------------------------------------------------------------
Full pages of advertising:
Community newspapers 9,074 9,286 (2.3)
Shoppers and specialty products 10,362 11,005 (5.8)
----------- -----------
Total full pages of advertising 19,436 20,291 (4.2)
=========== ===========
Revenue per page $272.59 $272.84 (0.1)
=========== ===========
Daily newspaper's core newspaper advertising linage by category:
----------------------------------------------------------------
Twelve periods (C) (D)
-----------------------
2004 2003 % Change
----------- ----------- -----------
Advertising linage (inches):
Full run
Retail 724,220 724,116 0.0
Classified 850,820 877,715 (3.1)
General 54,213 51,521 5.2
----------- -----------
Total full run 1,629,253 1,653,352 (1.5)
Part run 172,125 124,937 37.8
----------- -----------
Total advertising linage 1,801,378 1,778,289 1.3
=========== ===========
Preprint pieces (in thousands) 800,700 834,587 (4.1)
=========== ===========
Full pages of advertising and revenue per page of our community
newspapers and shoppers:
---------------------------------------------------------------
Full pages of advertising:
Community newspapers 100,156 109,114 (8.2)
Shoppers and specialty products 108,979 114,554 (4.9)
----------- -----------
Total full pages of advertising 209,135 223,668 (6.5)
=========== ===========
Revenue per page $282.96 $264.54 7.0
=========== ===========
(A) 2004 twelfth period: November 22, 2004 to December 26, 2004.
(B) 2003 twelfth period: November 24, 2003 to December 31, 2003.
(C) Twelve periods of 2004: January 1, 2004 to December 26, 2004.
(D) Twelve periods of 2003: January 1, 2003 to December 31, 2003.
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 revenue by radio and television:
---------------------------------------------
Twelfth period of 2004 (A) Twelfth period of 2003 (B)
------------------------------ ------------------------------
Radio Television Total Radio Television Total
--------- ---------- --------- --------- ---------- ---------
Revenue $8,574 $9,044 $17,618 $8,633 $7,897 $16,530
========= ========== ========= ========= ========== =========
% Change % Change % Change
Radio Television Total
--------- ---------- ---------
Revenue (0.7) 14.5 6.6
Twelve periods of 2004 (C) Twelve periods of 2003 (D)
------------------------------ ------------------------------
Radio Television Total Radio Television Total
--------- ---------- -------- --------- ---------- --------
Revenue $82,276 $89,797 $172,073 $77,930 $72,814 $150,744
========= ========== ========= ========= ========== =========
% Change % Change % Change
Radio Television Total
--------- ---------- ---------
Revenue 5.6 23.3 14.1
(A) 2004 twelfth period: November 22, 2004 to December 26, 2004.
(B) 2003 twelfth period: November 24, 2003 to December 31, 2003.
(C) Twelve periods of 2004: January 1, 2004 to December 26, 2004.
(D) Twelve periods of 2003: January 1, 2003 to December 31, 2003.
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.
CONTACT: Journal Communications, Inc.
Sara Leuchter Wilkins (Investor Relations), 414-224-2633
swilkins@jc.com
SOURCE: Journal Communications, Inc.
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