News Release
| << Back |
| 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, Aug 16, 2006 (BUSINESS WIRE) -- Journal Communications, Inc. (NYSE:JRN) announced today that for the seventh period ended July 23, 2006, total revenues for its Publishing and Broadcast groups of $39.53 million increased 10.3% compared to $35.84 million reported for the seventh period ended July 24, 2005. For the seventh period 2006, advertising revenues of $33.03 million increased 14.3% compared to $28.91 million for the 2005 seventh period. Both periods contained 28 days. Both total revenues and advertising revenues for the seventh period 2006 were impacted positively by the contribution of the new television operations acquired on December 5, 2005, while total revenues were impacted negatively by the shutdown of our Louisiana printing plant. Excluding the new television operations, total revenues were up 0.5% and advertising revenues were up 2.1%. Note that unless otherwise indicated, all comparisons are to the seventh period ended July 24, 2005. At the Publishing segment, revenues at the daily newspaper and the community newspapers and shoppers totaled $23.64 million, down 5.4% compared to $24.99 million. Advertising revenue was $17.14 million, down 5.1% compared to $18.06 million. Circulation revenue of $4.17 million was essentially flat compared to $4.15 million. Other revenue of $2.33 million was down 16.2%, reflecting the loss of commercial printing due to the closure of our Louisiana printing plant. At the daily newspaper, total advertising revenue was $12.35 million, down 4.7% compared to $12.96 million. Specifically, retail advertising was essentially flat, classified advertising revenue was down 16.0%, national advertising revenue of $0.89 million increased 48.1% and direct marketing revenue of $0.50 million was up 2.2%. Within classified advertising, the help wanted, real estate, auto and other verticals decreased 10.7%, 4.0%, 34.9% and 22.7%, respectively. Circulation revenue at the daily newspaper was $3.96 million, up 0.7% compared to $3.93 million. Other revenue at the daily newspaper of $0.68 million was up 40.2% compared to $0.49 million, reflecting growth in commercial printing and commercial delivery revenue. At the Company's community newspapers and shoppers operations, total advertising revenue was $4.79 million, down 6.0% compared to $5.10 million. Specifically, retail advertising revenue was down 6.5%, classified advertising revenue decreased 4.2% and other advertising revenue of $0.05 million was up 9.8%. Circulation revenue at the community newspapers and shoppers of $0.21 million decreased 5.4%. Other revenue at the community newspapers and shoppers of $1.65 million decreased 28.1%, reflecting the loss of commercial printing due to the closure of our Louisiana printing plant. At the Broadcasting segment, total revenue at the Company's radio and television stations of $15.89 million increased 46.4% compared to $10.86 million reported for the 2005 seventh period. Excluding the new television operations -- which recorded seventh period 2006 revenue of $3.52 million -- same-station broadcast revenues were up 14.0%. Revenue from political and issue advertising was $0.60 million in the seventh period. At the radio group, revenue was $6.33 million, up 5.4% compared to $6.01 million. Revenue from radio political and issue advertising was $0.12 million in the seventh period. At the television group, revenue increased 97.2% to $9.56 million compared to $4.85 million due in part to the new television operations. Excluding the new television operations, television revenues increased 24.6%. Revenue from television political and issue advertising was $0.48 million in the seventh period. Forward-looking Statements This press release may contain 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 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 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 about 90 community newspapers and shoppers in eight states. We own and operate 37 radio stations and nine television stations in 12 states and operate two television stations under local marketing agreements. 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 of 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:
-------------------------------
Seventh period of 2006 (A) Seventh period of 2005 (A)
------------------------------ ------------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- --------- --------- ---------- ---------
Advertising
revenue:
Retail $6,244 $3,906 $10,150 $6,257 $4,178 $10,435
Classified 4,715 839 5,554 5,611 876 6,487
National 890 -- 890 601 -- 601
Direct
Marketing 502 -- 502 491 -- 491
Other -- 45 45 -- 41 41
--------- ---------- --------- --------- ---------- ---------
Total
advertising
revenue 12,351 4,790 17,141 12,960 5,095 18,055
Circulation
revenue 3,955 210 4,165 3,929 222 4,151
Other
revenue 680 1,652 2,332 485 2,297 2,782
--------- ---------- --------- --------- ---------- ---------
Total
revenue $16,986 $6,652 $23,638 $17,374 $7,614 $24,988
========= ========== ========= ========= ========== =========
% Change % Change % Change
Daily CN&S Total
---------- ---------- ----------
Advertising revenue:
Retail (0.2) (6.5) (2.7)
Classified (16.0) (4.2) (14.4)
National 48.1 N/A 48.1
Direct Marketing 2.2 N/A 2.2
Other N/A 9.8 9.8
Total advertising revenue (4.7) (6.0) (5.1)
Circulation revenue 0.7 (5.4) 0.3
Other revenue 40.2 (28.1) (16.2)
Total revenue (2.2) (12.6) (5.4)
Seven periods of 2006 (B) Seven periods of 2005 (B)
------------------------------ ------------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- --------- --------- ---------- ---------
Advertising
revenue:
Retail $46,140 $30,500 $76,640 $51,219 $31,874 $83,093
Classified 37,926 6,340 44,266 41,079 5,859 46,938
National 6,031 -- 6,031 6,214 -- 6,214
Direct
Marketing 3,372 -- 3,372 3,523 -- 3,523
Other -- 626 626 -- 638 638
--------- ---------- --------- --------- ---------- ---------
Total
advertising
revenue 93,469 37,466 130,935 102,035 38,371 140,406
Circulation
revenue 29,703 1,679 31,382 30,397 1,677 32,074
Other
revenue 6,544 13,647 20,191 4,602 16,826 21,428
--------- ---------- --------- --------- ---------- ---------
Total
revenue $129,716 $52,792 $182,508 $137,034 $56,874 $193,908
========= ========== ========= ========= ========== =========
% Change % Change % Change
Daily CN&S Total
---------- ---------- ----------
Advertising revenue:
Retail (9.9) (4.3) (7.8)
Classified (7.7) 8.2 (5.7)
National (2.9) N/A (2.9)
Direct Marketing (4.3) N/A (4.3)
Other N/A (1.9) (1.9)
Total advertising revenue (8.4) (2.4) (6.7)
Circulation revenue (2.3) 0.1 (2.2)
Other revenue 42.2 (18.9) (5.8)
Total revenue (5.3) (7.2) (5.9)
(A) 2006 seventh period: June 26 to July 23, 2006.
2005 seventh period: June 27 to July 24, 2005.
(B) Seven periods of 2006: December 26, 2005 to July 23, 2006.
Seven periods of 2005: December 27, 2004 to July 24, 2005.
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 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 31,
2006.
Daily newspaper's core newspaper advertising linage by category and
core newspaper and shared mail preprint pieces:
-------------------------------------------------------------------
Seventh period (A)
---------------------
2006 2005 % Change
---------- ---------- ----------
Advertising linage (inches):
Full run
Retail 48,042 50,790 (5.4)
Classified 48,235 60,728 (20.6)
National 4,849 2,488 94.9
---------- ----------
Total full run 101,126 114,006 (11.3)
Part run 6,497 10,664 (39.1)
---------- ----------
Total advertising linage 107,623 124,670 (13.7)
========== ==========
Preprint pieces (in thousands) 52,968 56,374 (6.0)
========== ==========
Full pages of advertising and revenue per page of our community
newspapers and shoppers:
---------------------------------------------------------------
Full pages of advertising:
Community newspapers 6,460 6,841 (5.6)
Shoppers and specialty products 7,978 8,613 (7.4)
---------- ----------
Total full pages of advertising 14,438 15,454 (6.6)
========== ==========
Revenue per page $301.57 $304.12 (0.8)
========== ==========
Daily newspaper's core newspaper advertising linage by category and
core newspaper and shared mail preprint pieces:
-------------------------------------------------------------------
Seven periods (B)
---------------------
2006 2005 % Change
---------- ---------- ----------
Advertising linage (inches):
Full run
Retail 374,413 394,793 (5.2)
Classified 384,426 454,766 (15.5)
National 33,683 27,231 23.7
---------- ----------
Total full run 792,522 876,790 (9.6)
Part run 63,389 90,993 (30.3)
---------- ----------
Total advertising linage 855,911 967,783 (11.6)
========== ==========
Preprint pieces (in thousands) 476,692 478,011 (0.3)
========== ==========
Full pages of advertising and revenue per page of our community
newspapers and shoppers:
---------------------------------------------------------------
Full pages of advertising:
Community newspapers 50,403 51,505 (2.1)
Shoppers and specialty products 59,836 62,924 (4.9)
---------- ----------
Total full pages of advertising 110,239 114,429 (3.7)
========== ==========
Revenue per page $304.62 $302.78 0.6
========== ==========
(A) 2006 seventh period: June 26 to July 23, 2006.
2005 seventh period: June 27 to July 24, 2005.
(B) Seven periods of 2006: December 26, 2005 to July 23, 2006.
Seven periods of 2005: December 27, 2004 to July 24, 2005.
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:
---------------------------------------------
Seventh period of 2006 (A) Seventh period of 2005 (A)
------------------------------ ------------------------------
Radio Television Total Radio Television Total
--------- ---------- --------- --------- ---------- ---------
Revenue $6,330 $9,561 $15,891 $6,007 $4,848 $10,855
========= ========== ========= ========= ========== =========
% Change % Change % Change
Radio Television Total
---------- ---------- ----------
Revenue 5.4 97.2 46.4
Seven periods of 2006 (B) Seven periods of 2005 (B)
------------------------------ ------------------------------
Radio Television Total Radio Television Total
--------- ---------- --------- --------- ---------- ---------
Revenue $46,025 $79,956 $125,981 $45,627 $45,345 $90,972
========= ========== ========= ========= ========== =========
% Change % Change % Change
Radio Television Total
---------- ---------- ----------
Revenue 0.9 76.3 38.5
(A) 2006 seventh period: June 26 to July 23, 2006.
2005 seventh period: June 27 to July 24, 2005.
(B) Seven periods of 2006: December 26, 2005 to July 23, 2006.
Seven periods of 2005: December 27, 2004 to July 24, 2005.
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 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 31, 2006.
SOURCE: Journal Communications, Inc. Journal Communications, Inc. |