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Journal Communications Reports October Revenue and Volume for Its Publishing and Broadcast Groups

Friday, November 17, 2006

Press release from the issuing company

MILWAUKEE--Nov. 16, 2006-- Journal Communications, Inc. announced today that for the tenth period ended October 22, 2006, total revenues for its Publishing and Broadcast groups of $47.24 million increased 16.1% compared to $40.69 million reported for the tenth period ended October 23, 2005. For the tenth period 2006, advertising revenues of $40.33 million increased 19.1% compared to $33.85 million for the 2005 tenth period. Both periods contained 28 days. Both total revenues and advertising revenues for the tenth period 2006 were impacted positively by the contribution of the new television operations acquired on December 5, 2005. Excluding the new television operations, total revenues were up 4.6% and advertising revenues were up 5.3%. Note that unless otherwise indicated, all comparisons are to the tenth period ended October 23, 2005. At the Publishing segment, revenues at the daily newspaper and the community newspapers and shoppers totaled $25.97 million, down 4.5% compared to $27.19 million. Advertising revenue was $19.06 million, down 6.4% compared to $20.35 million. Circulation revenue of $4.23 million was down 3.9% compared to $4.40 million. Other revenue of $2.69 million was up 10.0%, reflecting gains in commercial printing and commercial delivery revenue. At the daily newspaper, total advertising revenue was $14.03 million, down 6.3% compared to $14.98 million. Specifically, retail advertising was down 1.1%, classified advertising revenue was down 9.6%, national advertising revenue of $0.85 million increased 25.3% and direct marketing revenue of $0.50 million was down 49.5%, reflecting the loss of a large solo mail customer. Within classified advertising, the help wanted vertical was essentially flat and the auto, real estate/rentals and other verticals decreased 25.2%, 11.7% and 7.5%, respectively. Circulation revenue at the daily newspaper was $4.00 million, down 4.0% compared to $4.16 million. Other revenue at the daily newspaper of $0.88 million was up 70.7% compared to $0.52 million, reflecting growth in commercial printing and commercial delivery revenue. At the Company's community newspapers and shoppers operations, total advertising revenue was $5.02 million, down 6.5% compared to $5.37 million. Specifically, retail advertising revenue was down 4.4%, classified advertising revenue decreased 11.2% and other advertising revenue of $0.05 million was down 50.9%. Circulation revenue at the community newspapers and shoppers of $0.23 million decreased 1.7%. Other revenue at the community newspapers and shoppers of $1.80 million decreased 6.3%. At the Broadcasting segment, total revenue at the Company's radio and television stations of $21.27 million increased 57.6% compared to $13.50 million reported for the 2005 tenth period. Excluding the new television operations -- which recorded tenth period 2006 revenue of $4.68 million -- same-station broadcast revenues were up 22.9%. Revenue from political and issue advertising was $3.95 million in the tenth period, including $1.00 million from the new television stations. At the radio group, revenue was $7.12 million, up 3.4% compared to $6.89 million, due to increases in the national, political and developmental advertising categories. Revenue from radio political and issue advertising was $0.23 million in the tenth period. At the television group, revenue increased 114.1% to $14.15 million compared to $6.61 million due in part to the new television operations. Excluding the new television operations, television revenues increased 43.3%. Revenue from television political and issue advertising was $3.72 million in the tenth period, including $1.00 million from the new television stations.

 

 

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