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| Journal Communications Reports April Revenue and Volume for Its Publishing and Broadcast Groups |
Printer Friendly Version (PDF) News Release Printer Friendly Version (PDF) Financial Tables MILWAUKEE--(BUSINESS WIRE)--May 10, 2005--Journal Communications, Inc. (NYSE:JRN) announced today that for the fourth period ended April 24, 2005, total revenues for its Publishing and Broadcast groups of $39.06 million increased 1.7% compared to $38.43 million reported for the fourth period ended April 25, 2004. For the fourth period 2005, advertising revenues of $32.73 million increased 2.5% compared to $31.95 million for the 2004 fourth period. Both periods contained 28 days. Included in both the total revenues and the advertising revenues for the 2005 fourth period is a $0.76 million contribution from the Green Bay television operations, which were acquired on October 6, 2004. Note that unless otherwise indicated, all comparisons are to the fourth period ended April 25, 2004. At the Publishing segment for the 2005 fourth period, revenues at the daily newspaper and the community newspapers and shoppers totaled $26.29 million, an increase of 2.4% compared to $25.67 million. For the fourth period 2005, advertising revenue was $19.96 million, an increase of 4.0% compared to $19.19 million. Circulation revenue of $3.38 million for the fourth period 2005 was down 4.6% compared to $3.54 million. Other revenue of $2.95 million was essentially flat for the period year over year. Note that Easter fell in the third period 2005 and in the fourth period 2004; traditionally, newspaper advertising is lighter on holidays such as Easter Sunday. At the daily newspaper for the fourth period 2005, total advertising revenue was $14.47 million, an increase of 4.9% compared to $13.79 million. Specifically, for the fourth period 2005, retail advertising revenue was up 2.7%, classified advertising revenue increased 9.5% and general advertising revenue was essentially flat. Other advertising revenue increased 2.8% to $1.80 million, due to growth in Journal Interactive. Within classified advertising, the help wanted, general/other and real estate verticals increased 15.5%, 26.3% and 27.1%, respectively, and the auto vertical decreased 16.8%. Circulation revenue at the daily newspaper was $3.15 million, down 5.4% compared to $3.33 million. Other revenue at the daily newspaper of $0.36 million was up 23.9% compared to $0.29 million. At the Company's community newspapers and shoppers operations for the fourth period 2005, total advertising revenue was $5.49 million, up 1.8% compared to $5.40 million. Specifically, for the fourth period 2005, retail advertising revenue was essentially flat, classified advertising revenue increased 4.7% and other advertising revenue increased 18.7% to $0.18 million. Circulation revenue at the community newspapers and shoppers of $0.23 million was up 8.5% compared to $0.21 million. Other revenue at the community newspapers and shoppers decreased 2.2% to $2.59 million compared to $2.64 million. At the Broadcasting segment for the fourth period 2005, total revenue at the Company's radio stations and television stations of $12.77 million, including the $0.76 million contribution of the Green Bay television operations, was essentially flat. This compares to total revenue of $12.76 million reported for the 2004 fourth period. At the radio group for the fourth period 2005, revenue was $6.21 million, an increase of 2.5% compared to $6.06 million. At the television group for the fourth period 2005, revenue decreased 2.1% to $6.56 million, including the $0.76 million contribution from the Green Bay operations. This compares to revenue of $6.70 million reported for the fourth period 2004. 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:
-------------------------------
Fourth period of 2005 (A) Fourth period of 2004 (B)
----------------------------- ----------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- ------- --------- ---------- -------
Advertising
revenue:
Retail $6,470 $4,552 $11,022 $6,301 $4,518 $10,819
Classified 5,278 758 6,036 4,822 724 5,546
General 926 -- 926 920 -- 920
Other 1,796 184 1,980 1,747 155 1,902
-------- -------- --------- -------- -------- ---------
Total
advertising
revenue 14,470 5,494 19,964 13,790 5,397 19,187
Circulation
revenue 3,149 231 3,380 3,330 213 3,543
Other revenue 363 2,585 2,948 293 2,643 2,936
-------- -------- --------- -------- -------- ---------
Total revenue $17,982 $8,310 $26,292 $17,413 $8,253 $25,666
======== ======== ========= ======== ======== =========
% Change % Change % Change
Daily CN&S Total
---------- ---------- ----------
Advertising revenue:
Retail 2.7 0.8 1.9
Classified 9.5 4.7 8.8
General 0.7 -- 0.7
Other 2.8 18.7 4.1
Total advertising revenue 4.9 1.8 4.0
Circulation revenue (5.4) 8.5 (4.6)
Other revenue 23.9 (2.2) 0.4
Total revenue 3.3 0.7 2.4
Four periods of 2005 (C) Four periods of 2004 (D)
----------------------------- ----------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- ------- --------- ---------- -------
Advertising
revenue:
Retail $24,869 $17,316 $42,185 $24,624 $17,257 $41,881
Classified 20,747 2,713 23,460 19,899 2,675 22,574
General 3,792 -- 3,792 4,192 -- 4,192
Other 7,127 757 7,884 5,990 775 6,765
-------- -------- --------- -------- -------- ---------
Total
advertising
revenue 56,535 20,786 77,321 54,705 20,707 75,412
Circulation
revenue 13,579 955 14,534 13,839 916 14,755
Other revenue 2,802 9,549 12,351 2,748 9,422 12,170
-------- -------- --------- -------- -------- ---------
Total revenue $72,916 $31,290 $104,206 $71,292 $31,045 $102,337
======== ======== ========= ======== ======== =========
% Change % Change % Change
Daily CN&S Total
---------- ---------- ----------
Advertising revenue:
Retail 1.0 0.3 0.7
Classified 4.3 1.4 3.9
General (9.5) -- (9.5)
Other 19.0 (2.3) 16.5
Total advertising revenue 3.3 0.4 2.5
Circulation revenue (1.9) 4.3 (1.5)
Other revenue 2.0 1.3 1.5
Total revenue 2.3 0.8 1.8
(A) 2005 fourth period: March 28 to April 24, 2005.
(B) 2004 fourth period: March 29 to April 25, 2004.
(C) Four periods of 2005: December 27, 2004 to April 24, 2005.
(D) Four periods of 2004: January 1, 2004 to April 25, 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 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
25, 2005.
Daily newspaper's core newspaper advertising linage by category:
---------------------------------------------------------------
Fourth period (A) (B)
--------------------
2005 2004 % Change
--------- --------- ---------
Advertising linage (inches):
Full run
Retail 52,228 57,676 (9.4)
Classified 63,511 68,187 (6.9)
General 3,867 4,514 (14.3)
--------- ---------
Total full run 119,606 130,377 (8.3)
Part run 12,938 10,774 20.1
--------- ---------
Total advertising linage 132,544 141,151 (6.1)
========= =========
Preprint pieces (in thousands) 66,659 55,457 20.2
========= =========
Full pages of advertising and revenue per page of our community
newspapers and shoppers:
---------------------------------------------------------------
Full pages of advertising:
Community newspapers 7,118 7,568 (5.9)
Shoppers and specialty products 8,575 8,760 (2.1)
--------- ---------
Total full pages of advertising 15,693 16,328 (3.9)
========= =========
Revenue per page $308.46 $293.39 5.1
========= =========
Daily newspaper's core newspaper advertising linage by category:
----------------------------------------------------------------
Four periods (C) (D)
-------------------
2005 2004 % Change
--------- --------- ---------
Advertising linage (inches):
Full run
Retail 216,693 215,190 0.7
Classified 245,325 268,774 (8.7)
General 17,044 20,424 (16.5)
--------- ---------
Total full run 479,062 504,388 (5.0)
Part run 46,809 35,988 30.1
--------- ---------
Total advertising linage 525,871 540,376 (2.7)
========= =========
Preprint pieces (in thousands) 271,531 241,231 12.6
========= =========
Full pages of advertising and revenue per page of our community
newspapers and shoppers:
---------------------------------------------------------------
Full pages of advertising:
Community newspapers 28,030 30,188 (7.1)
Shoppers and specialty products 34,161 33,826 1.0
--------- ---------
Total full pages of advertising 62,191 64,014 (2.8)
========= =========
Revenue per page $294.21 $284.72 3.3
========= =========
(A) 2005 fourth period: March 28 to April 24, 2005.
(B) 2004 fourth period: March 29 to April 25, 2004.
(C) Four periods of 2005: December 27, 2004 to April 24, 2005.
(D) Four periods of 2004: January 1, 2004 to April 25, 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 revenue by radio and television:
---------------------------------------------
Fourth period of 2005 (A) Fourth period of 2004 (B)
---------------------------- -----------------------------
Radio Television Total Radio Television Total
-------- ---------- -------- -------- ---------- ---------
Revenue $6,211 $6,558 $12,769 $6,057 $6,702 $12,759
======== ========== ======== ======== ========== =========
% Change % Change % Change
Radio Television Total
---------- ----------- ----------
Revenue 2.5 (2.1) 0.1
Four periods of 2005 (C) Four periods of 2004 (D)
---------------------------- -----------------------------
Radio Television Total Radio Television Total
-------- ----------- ------- -------- ----------- --------
Revenue $24,425 $25,550 $49,975 $22,735 $24,659 $47,394
======== ========== ======== ======== ========== =========
% Change % Change % Change
Radio Television Total
---------- ----------- ----------
Revenue 7.4 3.6 5.4
(A) 2005 fourth period: March 28 to April 24, 2005.
(B) 2004 fourth period: March 29 to April 25, 2004.
(C) Four periods of 2005: December 27, 2004 to April 24, 2005.
(D) Four periods of 2004: January 1, 2004 to April 25, 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
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 25, 2005.
CONTACT: Journal Communications, Inc.
Sara Leuchter Wilkins, 414-224-2633
swilkins@journalcommunications.com
SOURCE: Journal Communications, Inc.
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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. |