| << 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--(BUSINESS WIRE)--Aug. 20, 2007--Journal Communications, Inc. (NYSE:JRN) announced today that for the seventh period ended July 29, 2007, total revenues from continuing operations for its Publishing and Broadcast groups of $34.03 million decreased 6.7% compared to $36.47 million reported for the seventh period ended July 23, 2006. For the seventh period 2007, advertising revenues from continuing operations of $28.97 million decreased 8.0% compared to $31.50 million for the 2006 seventh period. Both periods contained 28 days. Note that unless otherwise indicated, all comparisons are to the seventh period ended July 23, 2006. At the Publishing segment, revenues from continuing operations at the daily newspaper and the community newspapers and shoppers totaled $19.01 million, down 7.6% compared to $20.58 million. Advertising revenue from continuing operations was $13.95 million, down 10.6% compared to $15.61 million. Circulation revenue from continuing operations of $3.98 million was down 3.5% compared to $4.12 million. Other revenue from continuing operations of $1.09 million was up 28.3%. At the daily newspaper, total advertising revenue was $11.26 million, down 8.8% compared to $12.35 million. Specifically, retail advertising was down 5.7%, classified advertising revenue was down 3.9%, national advertising revenue of $0.66 million decreased 25.6% and direct marketing revenue of $0.18 million was down 64.3%. Within classified advertising, the auto and other verticals increased 11.5% and 12.6%, respectively, and the help wanted and real estate/rentals verticals were down 8.7% and 13.1%, respectively. Circulation revenue at the daily newspaper was $3.91 million, down 1.3% compared to $3.96 million. Other revenue at the daily newspaper of $0.77 million was up 22.5% compared to $0.63 million. Total interactive advertising revenue at the daily newspaper, which is reflected in the various revenue categories, increased 40.3% to $1.00 million compared to $0.71 million. At the Company's community newspapers and shoppers operations, total advertising revenue from continuing operations was $2.69 million, down 17.5% compared to $3.26 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 17.2%, classified advertising revenue from continuing operations decreased 18.9% and other advertising revenue from continuing operations of $0.02 million was down 13.0%. Circulation revenue from continuing operations at the community newspapers and shoppers of $0.07 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 $0.32 million increased 45.0%. At the Broadcasting segment, total revenue at the Company's radio and television stations of $15.02 million decreased 5.5% compared to $15.89 million. At the radio group, revenue was $6.28 million, down 0.8% compared to $6.33 million. 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 seventh period 2007 increased 1.0%. At the television group, revenue decreased 8.6% to $8.74 million compared to $9.56 million, primarily due to a decline in political and issue 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:
----------------------------------------------------------------------
Seventh period of 2007 (A)
--------------------------------------
Community
Daily Newspapers
Newspaper & Shoppers Total
------------ ------------ ------------
Advertising revenue:
Retail $5,890 $2,170 $8,060
Classified 4,533 499 5,032
National 661 -- 661
Direct Marketing 179 -- 179
Other -- 20 20
------------ ------------ ------------
Total advertising revenue 11,263 2,689 13,952
Circulation revenue 3,905 71 3,976
Other revenue 769 316 1,085
------------ ------------ ------------
Total revenue $15,937 $3,076 $19,013
============ ============ ============
Seventh period of 2006 (A)
--------------------------------------
Community
Daily Newspapers
Newspaper & Shoppers Total
------------ ------------ ------------
Advertising revenue:
Retail $6,244 $2,622 $8,866
Classified 4,715 615 5,330
National 889 -- 889
Direct Marketing 502 -- 502
Other -- 23 23
------------ ------------ ------------
Total advertising revenue 12,350 3,260 15,610
Circulation revenue 3,955 166 4,121
Other revenue 628 218 846
------------ ------------ ------------
Total revenue $16,933 $3,644 $20,577
============ ============ ============
% Change % Change % Change
Daily CN&S Total
------------ ------------ ------------
Advertising revenue:
Retail (5.7) (17.2) (9.1)
Classified (3.9) (18.9) (5.6)
National (25.6) N/A (25.6)
Direct Marketing (64.3) N/A (64.3)
Other N/A (13.0) (13.0)
Total advertising revenue (8.8) (17.5) (10.6)
Circulation revenue (1.3) (57.2) (3.5)
Other revenue 22.5 45.0 28.3
Total revenue (5.9) (15.6) (7.6)
Seven periods of 2007 (B)
--------------------------------------
Community
Daily Newspapers
Newspaper & Shoppers Total
------------ ------------ ------------
Advertising revenue:
Retail $49,401 $17,104 $66,505
Classified 35,665 3,566 39,231
National 4,981 -- 4,981
Direct Marketing 2,347 -- 2,347
Other -- 271 271
------------ ------------ ------------
Total advertising revenue 92,394 20,941 113,335
Circulation revenue 29,430 655 30,085
Other revenue 7,230 2,376 9,606
------------ ------------ ------------
Total revenue $129,054 $23,972 $153,026
============ ============ ============
Seven periods of 2006 (B)
--------------------------------------
Community
Daily Newspapers
Newspaper & Shoppers Total
------------ ------------ ------------
Advertising revenue:
Retail $46,140 $20,281 $66,421
Classified 37,926 4,675 42,601
National 6,030 -- 6,030
Direct Marketing 3,372 -- 3,372
Other -- 467 467
------------ ------------ ------------
Total advertising revenue 93,468 25,423 118,891
Circulation revenue 29,703 1,299 31,002
Other revenue 6,160 1,874 8,034
------------ ------------ ------------
Total revenue $129,331 $28,596 $157,927
============ ============ ============
% Change % Change % Change
Daily CN&S Total
------------ ------------ ------------
Advertising revenue:
Retail 7.1 (15.7) 0.1
Classified (6.0) (23.7) (7.9)
National (17.4) N/A (17.4)
Direct Marketing (30.4) N/A (30.4)
Other N/A (42.0) (42.0)
Total advertising revenue (1.1) (17.6) (4.7)
Circulation revenue (0.9) (49.6) (3.0)
Other revenue 17.4 26.8 19.6
Total revenue (0.2) (16.2) (3.1)
(A) 2007 seventh period: July 2, 2007 to July 29, 2007.
2006 seventh period: June 26, 2006 to July 23, 2006.
(B) Seven periods of 2007: January 1, 2007 to July 29, 2007.
Seven periods of 2006: December 26, 2005 to July 23, 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:
----------------------------------------------------------------------
Seventh period (A)
-------------------------
2007 2006 % Change
------------ ------------ ------------
Advertising linage (inches):
Full run
Retail 39,432 48,042 (17.9)
Classified 43,468 48,235 (9.9)
National 3,527 4,849 (27.3)
------------ ------------
Total full run 86,427 101,126 (14.5)
Part run 2,122 6,497 (67.3)
------------ ------------
Total advertising linage 88,549 107,623 (17.7)
============ ============
Preprint pieces (in thousands) 56,526 52,968 6.7
============ ============
Total pages and revenue per page of our community newspapers and
shoppers:
----------------------------------------------------------------------
Total pages:
Community newspapers 3,344 5,660 (40.9)
Shoppers and specialty
products 3,200 4,376 (26.9)
------------ ------------
Total pages 6,544 10,036 (34.8)
============ ============
Revenue per page $368.35 $292.54 25.9
============ ============
Daily newspaper's core newspaper advertising linage by category and
core newspaper and shared mail preprint pieces:
----------------------------------------------------------------------
Seven periods (B)
-------------------------
2007 2006 % Change
------------ ------------ ------------
Advertising linage (inches):
Full run
Retail 341,620 374,413 (8.8)
Classified 328,863 384,426 (14.5)
National 23,856 33,683 (29.2)
------------ ------------
Total full run 694,339 792,522 (12.4)
Part run 20,366 63,389 (67.9)
------------ ------------
Total advertising linage 714,705 855,911 (16.5)
============ ============
Preprint pieces (in thousands) 471,334 476,692 (1.1)
============ ============
Total pages and revenue per page of our community newspapers and
shoppers:
----------------------------------------------------------------------
Total pages:
Community newspapers 28,144 43,414 (35.2)
Shoppers and specialty
products 27,893 33,786 (17.4)
------------ ------------
Total pages 56,037 77,200 (27.4)
============ ============
Revenue per page $334.17 $292.26 14.3
============ ============
(A) 2007 seventh period: July 2, 2007 to July 29, 2007.
2006 seventh period: June 26, 2006 to July 23, 2006.
(B) Seven periods of 2007: January 1, 2007 to July 29, 2007.
Seven periods of 2006: December 26, 2005 to July 23, 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:
----------------------------------------------------------------------
Seventh period of 2007 (A) Seventh period of 2006 (A)
---------------------------- ----------------------------
Radio Television Total Radio Television Total
------- ----------- -------- ------- ----------- --------
Revenue $6,279 $8,739 $15,018 $6,329 $9,561 $15,890
======= =========== ======== ======= =========== ========
% Change % Change % Change
Radio Television Total
------------ ------------ ------------
Revenue (0.8) (8.6) (5.5)
Seven periods of 2007 (B) Seven periods of 2006 (B)
---------------------------- ----------------------------
Radio Television Total Radio Television Total
------- ----------- -------- ------- ----------- --------
Revenue $46,470 $76,273 $122,743 $46,024 $79,956 $125,980
======= =========== ======== ======= =========== ========
% Change % Change % Change
Radio Television Total
------------ ------------ ------------
Revenue 1.0 (4.6) (2.6)
(A) 2007 seventh period: July 2, 2007 to July 29, 2007.
2006 seventh period: June 26, 2006 to July 23, 2006.
(B) Seven periods of 2007: January 1, 2007 to July 29, 2007.
Seven periods of 2006: December 26, 2005 to July 23, 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.
CONTACT: Journal Communications, Inc. |
| "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Journal Communications, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year. |