Journal Communications, Inc.
Sara Leuchter Wilkins
Vice President of Investor Relations
& Corporate Communications
MILWAUKEE–(BUSINESS WIRE)–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.