Journal Register Company Reports Period Five Revenues
18 Junio 2007 - 3:30PM
Business Wire
Journal Register Company (NYSE:JRC) today reported total revenues
from continuing operations for Period Five, the four weeks ended
June 3, 2007, were $37.6 million compared to $41.4 million for the
four weeks ended May 28, 2006, a decrease of 9.2 percent. Excluding
results from the Michigan cluster, total revenues decreased 7.9
percent as compared to the prior year period. Total advertising
revenues for Period Five in 2007, from continuing operations, were
$29.0 million compared to $32.8 million for Period Five in 2006, a
decrease of 11.5 percent. Senior Vice President and Chief Financial
Officer Julie A. Beck said, �Our unsatisfactory revenue results for
Period Five reflect the difficult advertising market across all
categories, generally, and the transitioning economies in two of
our clusters � Michigan and Greater Cleveland. We are encouraged by
the improvement in automotive advertising, which had the best
performance trend of the year and by our continued growth in online
revenue.� Revenue Performance by Category: Online Continued strong
performance from the Company�s online operations produced online
revenues for Period Five of $1.5 million, and an increase of 22.1
percent as compared to Period Five of 2006. The Company�s Web sites
had 4.0 million unique visitors generating 28.8 million page views
in Period Five, representing an increase of 16.2 percent and 5.2
percent, respectively, as compared to the prior year period. Retail
Retail advertising revenues were down 13.8 percent in Period Five,
as compared to the prior year period. The Company�s retail
advertising revenues were down 13.0 percent excluding the results
of the Company�s Michigan cluster. Softness in the
financial/insurance and building/hardware/garden stores advertising
revenue categories was partially offset by strength in the
political advertising revenue category. Classified Classified
advertising revenues for Period Five decreased 8.4 percent, as
compared to the prior year period. Excluding the results from the
Michigan cluster, total classified advertising revenues decreased
5.7 percent for the period. Classified other advertising revenues
increased 0.3 percent in Period Five, as compared to the prior year
period. Excluding the results from the Company�s Michigan cluster,
classified other advertising revenues increased 2.8 percent in
Period Five. Classified auto advertising revenues were down 6.8
percent, as compared to Period Five of 2006. Excluding results from
the Company�s Michigan cluster, classified auto advertising
revenues were down 1.6 percent for the period. Classified
employment advertising revenues decreased 7.3 percent in Period
Five, as compared to Period Five of 2006. The Company�s classified
employment advertising revenues were down 7.2 percent excluding the
results from the Company�s Michigan cluster. The Company�s
classified real estate advertising revenues decreased 18.9 percent.
The Company�s classified real estate advertising revenues were down
14.4 percent excluding the results of the Company�s Michigan
cluster. National National advertising revenues, which represent
approximately four percent of total advertising revenues, decreased
9.6 percent in Period Five, as compared to the prior year period,
with softness in the telecommunications advertising revenue
category. Circulation Circulation revenues for Period Five
decreased 1.0 percent as compared to the prior year period. About
Journal Register Company Journal Register Company is a leading U.S.
media company. Journal Register Company owns 22 daily newspapers
and 345 non-daily publications. Journal Register Company currently
operates 226 individual Web sites that are affiliated with the
Company's daily newspapers, non-daily publications and its network
of employment Web sites. These Web sites can be accessed at
www.JournalRegister.com. All of the Company�s operations are
strategically clustered in six geographic areas: Greater
Philadelphia; Michigan; Connecticut; Greater Cleveland; and the
Capital-Saratoga and Mid-Hudson regions of New York. The Company
owns JobsInTheUS, a network of 19 premier employment Web sites.
Safe-Harbor This release contains forward-looking information about
Journal Register Company that is intended to be covered by the safe
harbor for forward-looking statements provided by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts. These
statements can be identified by the use of forward-looking
terminology such as �believe,� �expect,� �may,� �will,� �should,�
�project,� �plan,� �seek,� �intend,� or �anticipate� or the
negative thereof or comparable terminology, and include discussions
of strategy, financial projections and estimates and their
underlying assumptions, the extent or timing of cost savings,
charges, the extent of employees impacted, and statements about the
future performance, operations, products and services of the
Company. These forward-looking statements involve a number of risks
and uncertainties, which could cause actual results to differ
materially. These risks and uncertainties include, but are not
limited to, the success of the Company's acquisition strategy,
dispositions, the ability of the Company to achieve cost reductions
and integrate acquisitions, competitive pressures including
competition from non-newspaper forms of media , general or regional
economic conditions and advertising trends, the unavailability or a
material increase in the price of newsprint and increases in
interest rates, changes in performance that affect financial
covenant compliance or funds available for borrowing, technological
changes, the adoption of new accounting standards or changes in
accounting standards. These and additional risk factors are
outlined in the Company's most recent Annual Report on Form 10-K
filed with the Securities and Exchange Commission. The Company
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise. Financial Summary follows. � JOURNAL REGISTER COMPANY
PERIOD FIVE AND YEAR-TO-DATE REVENUE REPORT (Dollars in thousands,
unaudited) � � Period Five Year-To-Date Four weeks ended Twenty-Two
weeks ended Revenues: 6/3/2007� 5/28/2006� % Change� 6/3/2007�
5/28/2006� % Change� Advertising: Local $16,112� $18,681� (13.8)
$82,630� $88,866� (7.0) Classified 11,731� 12,806� (8.4) 62,321�
67,886� (8.2) National 1,153� 1,275� (9.6) 6,162� 8,272� (25.5)
Total Advertising 28,996� 32,762� (11.5) 151,113� 165,024� (8.4) �
Circulation 7,095� 7,161� (0.9) 38,714� 39,052� (0.9) Other revenue
1,527� 1,508� 1.3� 8,433� 8,017� 5.2� Total Revenue Continuing Ops.
37,618� 41,431� (9.2) 198,260� 212,093� (6.5) � Discontinued
Operations 0� 3,285� 3,309� 16,570� � Total Company $37,618�
$44,716� $201,569� $228,663� � Notes: � (1) The revenues of the
Company's acquisitions are included from the date of acquisition in
each period presented above. � (2) Other revenue is primarily
Commercial Printing revenue � (3) Discontinued operations represent
the divestiture of the Company's New England newspapers
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