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| Journal Communications Reports November Revenue and Volume for Its Publishing and Broadcast Groups |
Printer Friendly Version (PDF) News Release Printer Friendly Version (PDF) Financial Tables MILWAUKEE--(BUSINESS WIRE)--Dec. 10, 2004--Journal Communications, Inc. (NYSE:JRN) announced today that for the eleventh period ended November 21, 2004, total revenues for its Publishing and Broadcast groups increased 10.5% to $43.17 million, compared to $39.07 million reported for the eleventh period ended November 23, 2003. For the eleventh period 2004, advertising revenues of $36.84 million increased 13.5% compared to $32.45 million for the 2003 eleventh period. Both periods contained 28 calendar days. On October 6, 2004, Journal Communications acquired WGBA-TV in Green Bay, Wisconsin and assumed an existing local marketing agreement between WGBA-TV and WACY-TV, which is licensed to serve Appleton, Wisconsin. On a "same-station" basis for the eleventh period 2004 compared to the eleventh period of 2003 (excluding the contribution of the Green Bay acquisition), total revenues for the Publishing and Broadcast groups increased 7.9% to $42.17 million and advertising revenues increased 10.4% to $35.84 million. At the Publishing segment for the eleventh period ended November 21, 2004, operating revenues at the daily newspaper and the community newspapers and shoppers totaled $26.49 million, up 1.7% from the $26.04 million reported for the eleventh period ended November 23, 2003. For the eleventh period 2004, advertising revenue was $20.16 million, an increase of 3.8% compared to $19.42 million for the same period of 2003. Circulation revenue of $3.61 million for the eleventh period 2004 was down 1.2% compared to $3.65 million for the eleventh period 2003. Other revenue was down 8.5% in the period year over year. At the daily newspaper for the eleventh period ended November 21, 2004, total advertising revenue was $14.86 million, an increase of 5.1% compared to the $14.14 million reported for the eleventh period 2003. Specifically, for the eleventh period 2004 compared to the eleventh period 2003, retail advertising revenue increased 6.7%, classified advertising revenue increased 4.0% and general advertising revenue decreased 5.7%. Other advertising revenue increased 8.6% to $1.88 million, due to growth in interactive. Within classified advertising, the help wanted, real estate and general/other verticals increased 13.8%, 21.1% and 0.5%, respectively, and auto decreased 13.0%. Circulation revenue at the daily newspaper was $3.39 million for the eleventh period 2004, a decrease of 1.6% compared to circulation revenue of $3.44 million for the eleventh period 2003. For the eleventh period 2004, other revenue at the daily newspaper of $0.34 million was down 47.0% compared to $0.64 million for the eleventh period 2003. At the Company's community newspapers and shoppers operations for the eleventh period ended November 21, 2004, total advertising revenue was $5.30 million, essentially flat compared to the $5.28 million reported for the eleventh period 2003. Specifically, for the eleventh period 2004 compared to the eleventh period 2003, retail advertising revenue was essentially flat, classified advertising revenue increased 5.3% and other advertising revenue decreased 13.2% to $0.12 million. Circulation revenue at the community newspapers and shoppers for the eleventh period 2004 of $0.22 million was essentially flat compared to $0.22 million for the eleventh period 2003. For the eleventh period 2004, other revenue at the community newspapers and shoppers increased 2.2% to $2.38 million compared to $2.33 million for the eleventh period 2003. At the Broadcasting segment for the eleventh period ended November 21, 2004, total operating revenue at the Company's radio stations and television stations increased 28.0% to $16.68 million, propelled by political and issue advertising in advance of the November 2nd elections. This compares to total operating revenue of $13.04 million reported for the eleventh period ended November 23, 2003. On a "same-station" basis for the eleventh period 2004 compared to the eleventh period of 2003 (excluding the contribution of the Green Bay acquisition), operating revenue at the company's radio stations and television stations increased 20.3% to $15.68 million. At the radio group for the eleventh period 2004, operating revenue was $7.38 million, an increase of 10.1% compared to operating revenue of $6.70 million reported for the eleventh period 2003. At the television group for the eleventh period 2004, operating revenue was $9.30 million, an increase of 46.9% compared to operating revenue of $6.34 million reported for the eleventh period 2003. On a "same-station" basis for the eleventh period 2004 compared to the eleventh period of 2003 (excluding the contribution of the Green Bay acquisition), operating revenue increased 31.1% to $8.30 million. 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.
Journal Communications, Inc.
Publishing Segment Information (unaudited)
(dollars in thousands)
Publishing operating revenue by category:
-----------------------------------------
Eleventh period of 2004 (A) Eleventh period of 2003 (B)
----------------------------- ---------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- ------- --------- ---------- ------
Advertising
revenue:
Retail $7,069 $4,467 $11,536 $6,624 $4,464 $11,088
Classified 4,908 713 5,621 4,717 677 5,394
General 1,009 -- 1,009 1,070 -- 1,070
Other 1,878 118 1,996 1,730 136 1,866
--------- ------- -------- --------- ------- -------
Total
advertising
revenue 14,864 5,298 20,162 14,141 5,277 19,418
Circulation
revenue 3,385 224 3,609 3,439 215 3,654
Other revenue 340 2,375 2,715 641 2,325 2,966
--------- ------- -------- --------- ------- -------
Total
operating
revenue $18,589 $7,897 $26,486 $18,221 $7,817 $26,038
========= ======= ======== ========= ======= =======
% Change % Change % Change
Daily CN&S Total
-------- -------- ---------
Advertising revenue:
Retail 6.7 0.1 4.0
Classified 4.0 5.3 4.2
General (5.7) -- (5.7)
Other 8.6 (13.2) 7.0
Total advertising revenue 5.1 0.4 3.8
Circulation revenue (1.6) 4.2 (1.2)
Other revenue (47.0) 2.2 (8.5)
Total operating revenue 2.0 1.0 1.7
Eleven periods of 2004 (C) Eleven periods of 2003 (D)
----------------------------- ---------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ----------- ------- --------- ---------- -----
Advertising
revenue:
Retail $73,427 $50,307 $123,734 $71,035 $50,763 $121,798
Classified 58,901 8,415 67,316 55,578 7,925 63,503
General 10,415 -- 10,415 9,911 -- 9,911
Other 18,795 1,762 20,557 15,953 1,833 17,786
--------- --------- --------- -------- --------- -------
Total
advertising
revenue 161,538 60,484 222,022 152,477 60,521 212,998
Circulation
revenue 39,122 2,611 41,733 39,385 2,587 41,972
Other revenue 4,961 26,500 31,461 4,661 24,883 29,544
--------- --------- --------- -------- --------- -------
Total
operating
revenue $205,621 $89,595 $295,216 $196,523 $87,991 $284,514
========= ========= ========= ======== ========= =======
% Change % Change % Change
Daily CN&S Total
--------- --------- ---------
Advertising revenue:
Retail 3.4 (0.9) 1.6
Classified 6.0 6.2 6.0
General 5.1 -- 5.1
Other 17.8 (3.9) 15.6
Total advertising revenue 5.9 (0.1) 4.2
Circulation revenue (0.7) 0.9 (0.6)
Other revenue 6.4 6.5 6.5
Total operating revenue 4.6 1.8 3.8
(A) 2004 eleventh period: October 25, 2004 to November 21, 2004.
(B) 2003 eleventh period: October 27, 2003 to November 23, 2003 --
presented on a basis that conforms with the eleventh period of
2004.
(C) Eleven periods of 2004: January 1, 2004 to November 21, 2004.
(D) Eleven periods of 2003: January 1, 2003 to November 23, 2003 --
presented on a basis that conforms with the eleven 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:
----------------------------------------------------------------
Eleventh period (A)(B)
----------------------
2004 2003 % Change
---------- ---------- ---------
Advertising linage (inches):
Full run
Retail 58,300 59,020 (1.2)
Classified 63,748 66,183 (3.7)
General 4,459 5,088 (12.4)
---------- ----------
Total full run 126,507 130,291 (2.9)
Part run 16,190 11,671 38.7
---------- ----------
Total advertising linage 142,697 141,962 0.5
========== ==========
Preprint pieces (in thousands) 65,991 65,333 1.0
========== ==========
Full pages of advertising and revenue per page of our
community newspapers and shoppers:
------------------------------------------------------
Full pages of advertising:
Community newspapers 7,902 8,526 (7.3)
Shoppers and specialty products 8,448 8,836 (4.4)
---------- ----------
Total full pages of advertising 16,350 17,362 (5.8)
========== ==========
Revenue per page $ 288.11 $ 268.64 7.2
========== ==========
Daily newspaper's core newspaper advertising
linage by category:
---------------------------------------------
Eleven periods (C)(D)
---------------------
2004 2003 % Change
---------- ---------- ---------
Advertising linage (inches):
Full run
Retail 650,375 647,682 0.4
Classified 781,597 801,497 (2.5)
General 48,603 45,931 5.8
---------- ----------
Total full run 1,480,575 1,495,110 (1.0)
Part run 155,231 108,109 43.6
---------- ----------
Total advertising linage 1,635,806 1,603,219 2.0
========== ==========
Preprint pieces (in thousands) 697,041 737,558 (5.5)
========== ==========
Full pages of advertising and revenue per page of our
community newspapers and shoppers:
-----------------------------------------------------
Full pages of advertising:
Community newspapers 91,082 99,828 (8.8)
Shoppers and specialty products 98,617 103,527 (4.7)
---------- ----------
Total full pages of advertising 189,699 203,355 (6.7)
========== ==========
Revenue per page $ 284.02 $ 263.74 7.7
========== ==========
(A) 2004 eleventh period: October 25, 2004 to November 21, 2004.
(B) 2003 eleventh period: October 27, 2003 to November 23, 2003 --
presented on a basis that conforms with the eleventh period of
2004.
(C) Eleven periods of 2004: January 1, 2004 to November 21, 2004.
(D) Eleven periods of 2003: January 1, 2003 to November 23, 2003 --
presented on a basis that conforms with the eleven 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:
-------------------------------------------------------
Eleventh period of 2004 (A) Eleventh period of 2003 (B)
--------------------------- ---------------------------
Radio Television Total Radio Television Total
------- ---------- ------- ------- ----------- -------
Operating
revenue $ 7,378 $ 9,303 $16,681 $ 6,700 $ 6,335 $13,035
======= ========= ======== ======== ========= ========
% Change % Change % Change
Radio Television Total
--------- ----------- ---------
Operating revenue 10.1 46.9 28.0
Eleven periods of 2004 (C) Eleven periods of 2003 (D)
----------------------------- -----------------------------
Radio Television Total Radio Television Total
-------- ----------- -------- -------- ------------ -------
Operating
revenue $ 73,702 $ 80,753 $154,455 $ 69,297 $ 64,917 $134,214
======== ========== ========= ======== ========== =========
% Change % Change % Change
Radio Television Total
--------- ----------- ---------
Operating revenue 6.4 24.4 15.1
(A) 2004 eleventh period: October 25, 2004 to November 21, 2004.
(B) 2003 eleventh period: October 27, 2003 to November 23, 2003 --
presented on a basis that conforms with the eleventh period of
2004.
(C) Eleven periods of 2004: January 1, 2004 to November 21, 2004.
(D) Eleven periods of 2003: January 1, 2003 to November 23, 2003 --
presented on a basis that conforms with the eleven 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, 414-224-2633
swilkins@jc.com
SOURCE: Journal Communications
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| "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. |