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| Journal Communications Reports May Revenue and Volume for Its Publishing and Broadcast Groups |
Printer Friendly Version (PDF) News Release Printer Friendly Version (PDF) Financial Tables MILWAUKEE--(BUSINESS WIRE)--June 14, 2005--Journal Communications, Inc. (NYSE:JRN) announced today that for the fifth period ended May 22, 2005, total revenues for its Publishing and Broadcast groups of $40.25 million was essentially flat compared to $40.19 million reported for the fifth period ended May 23, 2004. For the fifth period 2005, advertising revenues of $34.06 million were essentially flat compared to $33.92 million for the 2004 fifth period. Both periods contained 28 days. Included in both the total revenues and the advertising revenues for the 2005 fifth period is a $0.77 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 fifth period ended May 23, 2004. At the Publishing segment for the 2005 fifth period, revenues at the daily newspaper and the community newspapers and shoppers totaled $26.75 million, essentially flat compared to $26.71 million. Advertising revenue was $20.56 million, essentially flat compared to $20.44 million. Circulation revenue of $3.48 million was down 3.6% compared to $3.61 million. Other revenue of $2.71 million increased 1.7% in the period year over year. At the daily newspaper, total advertising revenue was $15.01 million, an increase of 1.0% compared to $14.85 million. Specifically, retail advertising revenue was down 6.2%, classified advertising revenue was essentially flat and general advertising revenue increased 12.7%. Other advertising revenue increased 34.6% to $1.98 million, due to growth in shared mail and Journal Interactive. Within classified advertising, the help wanted and real estate verticals increased 6.2% and 18.9%, respectively, and the auto and general/other verticals decreased 7.4% and 13.1%, respectively. Circulation revenue at the daily newspaper was $3.25 million, down 4.0% compared to $3.39 million. Other revenue at the daily newspaper of $0.38 million was up 43.4% compared to $0.27 million. At the Company's community newspapers and shoppers operations, total advertising revenue was $5.55 million, essentially flat compared to $5.58 million. Specifically, retail advertising revenue decreased 1.0%, classified advertising revenue was essentially flat and other advertising revenue increased 6.2% to $0.14 million. Circulation revenue at the community newspapers and shoppers of $0.22 million was up 2.3%. Other revenue at the community newspapers and shoppers decreased 2.9% to $2.33 million compared to $2.40 million. At the Broadcasting segment, total revenue at the Company's radio stations and television stations of $13.51 million, including the $0.77 million contribution of the Green Bay television operations, was essentially flat. This compares to total revenue of $13.48 million reported for the 2004 fifth period. At the radio group, revenue was $6.69 million, an increase of 4.6% compared to $6.40 million. At the television group, revenue decreased 3.8% to $6.82 million, including the $0.77 million contribution from the Green Bay operations. This compares to revenue of $7.09 million reported for the fifth period 2004. 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 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:
-------------------------------
Fifth period of 2005 (A) Fifth period of 2004 (B)
----------------------------- -----------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- -------- --------- ---------- --------
Advertising
revenue:
Retail $6,789 $4,584 $11,373 $7,235 $4,630 $11,865
Classified 5,347 827 6,174 5,355 824 6,179
General 897 -- 897 796 -- 796
Other 1,976 137 2,113 1,468 129 1,597
--------- --------- --------- --------- --------- ---------
Total
advertising
revenue 15,009 5,548 20,557 14,854 5,583 20,437
Circulation
revenue 3,254 222 3,476 3,389 217 3,606
Other
revenue 380 2,333 2,713 265 2,402 2,667
--------- --------- --------- --------- --------- ---------
Total
revenue $18,643 $8,103 $26,746 $18,508 $8,202 $26,710
========= ========= ========= ========= ========= =========
% Change % Change % Change
Daily CN&S Total
--------- --------- ---------
Advertising revenue:
Retail (6.2) (1.0) (4.1)
Classified (0.1) 0.4 (0.1)
General 12.7 -- 12.7
Other 34.6 6.2 32.3
Total advertising revenue 1.0 (0.6) 0.6
Circulation revenue (4.0) 2.3 (3.6)
Other revenue 43.4 (2.9) 1.7
Total revenue 0.7 (1.2) 0.1
Five periods of 2005 (C) Five periods of 2004 (D)
----------------------------- -----------------------------
Community Community
Daily Newspapers Daily Newspapers
Newspaper & Shoppers Total Newspaper & Shoppers Total
--------- ---------- -------- --------- ---------- --------
Advertising
revenue:
Retail $31,658 $21,900 $53,558 $31,859 $21,887 $53,746
Classified 26,094 3,540 29,634 25,254 3,499 28,753
General 4,689 -- 4,689 4,988 -- 4,988
Other 9,103 894 9,997 7,458 904 8,362
--------- --------- --------- --------- --------- ---------
Total
advertising
revenue 71,544 26,334 97,878 69,559 26,290 95,849
Circulation
revenue 16,833 1,177 18,010 17,228 1,133 18,361
Other
revenue 3,182 11,882 15,064 3,013 11,824 14,837
--------- --------- --------- --------- --------- ---------
Total
revenue $91,559 $39,393 $130,952 $89,800 $39,247 $129,047
========= ========= ========= ========= ========= =========
% Change % Change % Change
Daily CN&S Total
--------- --------- ---------
Advertising revenue:
Retail (0.6) 0.1 (0.3)
Classified 3.3 1.2 3.1
General (6.0) -- (6.0)
Other 22.1 (1.1) 19.6
Total advertising revenue 2.9 0.2 2.1
Circulation revenue (2.3) 3.9 (1.9)
Other revenue 5.6 0.5 1.5
Total revenue 2.0 0.4 1.5
(A) 2005 fifth period: April 25 to May 22, 2005.
(B) 2004 fifth period: April 26 to May 23, 2004.
(C) Five periods of 2005: December 27, 2004 to May 22, 2005.
(D) Five periods of 2004: January 1, 2004 to May 23, 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 and core newspaper and shared mail preprint pieces:
---------------------------------------------------------------
Fifth period (A) (B)
---------------------
2005 2004 % Change
---------- ---------- ----------
Advertising linage (inches):
Full run
Retail 54,098 62,044 (12.8)
Classified 64,903 69,029 (6.0)
General 3,611 3,267 10.5
---------- ----------
Total full run 122,612 134,340 (8.7)
Part run 17,405 16,581 5.0
---------- ----------
Total advertising linage 140,017 150,921 (7.2)
========== ==========
Preprint pieces (in thousands) 69,808 60,004 16.3
========== ==========
Full pages of advertising and revenue per page of
our community newspapers and shoppers:
-------------------------------------------------
Full pages of advertising:
Community newspapers 7,510 8,416 (10.8)
Shoppers and specialty products 8,957 8,915 0.5
---------- ----------
Total full pages of advertising 16,467 17,331 (5.0)
========== ==========
Revenue per page $299.65 $285.06 5.1
========== ==========
Daily newspaper's core newspaper advertising linage
by category and core newspaper and shared mail preprint pieces:
---------------------------------------------------------------
Five periods (C) (D)
---------------------
2005 2004 % Change
---------- ---------- ----------
Advertising linage (inches):
Full run
Retail 270,791 277,234 (2.3)
Classified 310,228 337,803 (8.2)
General 20,655 23,691 (12.8)
---------- ----------
Total full run 601,674 638,728 (5.8)
Part run 64,214 52,569 22.2
---------- ----------
Total advertising linage 665,888 691,297 (3.7)
========== ==========
Preprint pieces (in thousands) 341,339 301,235 13.3
========== ==========
Full pages of advertising and revenue per page of
our community newspapers and shoppers:
-------------------------------------------------
Full pages of advertising:
Community newspapers 35,540 38,604 (7.9)
Shoppers and specialty products 43,118 42,741 0.9
---------- ----------
Total full pages of advertising 78,658 81,345 (3.3)
========== ==========
Revenue per page $295.35 $284.79 3.7
========== ==========
(A) 2005 fifth period: April 25 to May 22, 2005.
(B) 2004 fifth period: April 26 to May 23, 2004.
(C) Five periods of 2005: December 27, 2004 to May 22, 2005.
(D) Five periods of 2004: January 1, 2004 to May 23, 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. All data are
subject to later adjustment.
Journal Communications, Inc.
Broadcasting Segment Information (unaudited)
(dollars in thousands)
Broadcasting revenue by radio and television:
---------------------------------------------
Fifth period of 2005 (A) Fifth period of 2004 (B)
------------------------------ ------------------------------
Radio Television Total Radio Television Total
--------- ---------- --------- --------- ---------- ---------
Revenue $6,686 $6,820 $13,506 $6,395 $7,086 $13,481
========= ========== ========= ========= ========== =========
% Change % Change % Change
Radio Television Total
------------ -------------- ----------
Revenue 4.6 (3.8) 0.2
Five periods of 2005 (C) Five periods of 2004 (D)
------------------------------ ------------------------------
Radio Television Total Radio Television Total
--------- ---------- --------- --------- ---------- ---------
Revenue $31,111 $32,370 $63,481 $29,130 $31,745 $60,875
========= ========== ========= ========= ========== =========
% Change % Change % Change
Radio Television Total
------------ -------------- ----------
Revenue 6.8 2.0 4.3
(A) 2005 fifth period: April 25 to May 22, 2005.
(B) 2004 fifth period: April 26 to May 23, 2004.
(C) Five periods of 2005: December 27, 2004 to May 22, 2005.
(D) Five periods of 2004: January 1, 2004 to May 23, 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. |
| "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. |