Journal Communications 3Q Profit Drops (DeathWatch™ SE)

AP ^ | October 17 2006

[Milhous]

Journal Communications 3rd-Quarter Profit Slides on Purchase Price Adjustment

MILWAUKEE (AP) -- Newspaper publisher and broadcast operator Journal Communications Inc. said Tuesday its third-quarter profit slipped 4 percent on a price adjustment related to the sale of discontinued operations.

Net income declined to $13.5 million, or 19 cents per share, versus $14 million, or 19 cents per share, during the same period last year.

Quarterly results included the operations of three television stations purchased in December 2005. Journal Communications also suffered a $1 million loss during the period for a purchase price adjustment related to the sale of NorthStar Print Group.

Earnings from continuing operations rose to $14.5 million, or 20 cents per share, compared to $14 million, or 19 cents per share, last year.

Analysts were expecting third-quarter earnings of 19 cents per share, according to a Thomson Financial poll.

Quarterly revenue rose 4 percent to $194.3 million from $187.4 million in the year-ago period. Consensus estimates put sales at $195.2 million.

Publishing revenue decreased 5 percent to $80.4 million. Sales from broadcasting climbed 44 percent to $58.3 million, and revenue from telecommunications and printing services declined.

[Milhous]

More.

Journal Communications Reports Third Quarter Results

Publishing Segment Information (unaudited)
Three Quarters of 2006 % Change
Advertising revenue:
Retail (7.0)
Classified (6.3)
National (1.9)
Direct Marketing (14.1)
Other (2.6)
Total advertising revenue (6.7)
Circulation revenue (2.3)
Other revenue (3.8)
Total revenue (5.7)

[Milhous]

ping

[rzeznikj at stout]

It's not surprising--the Milwaukee Urinal just keeps getting trashier by the day...

Though admittedly, it's not as sleazy as our campus newspapers...8^)