Journal Register Company Presents at the 2007 NAA Mid-Year Media Review
19 Junio 2007 - 9:16AM
Business Wire
Journal Register Company (NYSE:JRC) today presented at the 2007
Newspaper Association of America Mid-Year Media Review at the
McGraw-Hill Building Auditorium in New York City. Senior Vice
President and Chief Financial Officer Julie A. Beck, along with
Senior Vice President of Operations Scott A. Wright and Vice
President of Interactive Media Daryl Hively provided investors with
an update on Journal Register Company's strategies and performance,
and discussed the Company�s 2007 outlook. At the Conference, Ms.
Beck reported on the progress of the Company�s short and long term
initiatives and provided a full year update on certain revenue and
expense items. She discussed Journal Register Company�s important
cost saving and control initiatives, which are expected to reduce
costs by approximately $11.0 million annually. �Same-store
newspaper operations non-newsprint cash expenses were down 4.1
percent in the first quarter of 2007. The Company plans to
consolidate certain of its production facilities which will improve
our efficiency. Further, we expect to generate annual savings of
approximately $6.0 million in our Michigan cluster,� she said. Ms.
Beck noted that the Company is optimistic about the outlook in its
Michigan cluster, recapping that the new 640,000 square foot
Partridge Creek Mall, located only four miles from Journal
Register�s new Macomb production facility, is attracting
high-traffic vendors, such as Nordstrom�s, Apple Computers,
Parisian, PF Chang�s, California Pizza Kitchen, and more. �We have
signed an exclusive contract for advertising for the mall and for
newspaper racks within the mall,� said Ms. Beck. Also speaking at
the conference, Daryl Hively, Vice President of Interactive Media,
reported that the Company�s online revenue growth is approximately
23 percent through the first five periods of 2007. He added that
the online audience continues to grow with unique visitors to the
Company�s Web sites averaging from 4.0 to 4.5 million per month.
Mr. Hively reported that the Company�s newspaper consortium
partnership with Yahoo! combined with its own new Web site
initiative will continue to position its local Web sites as the
premier sites for hyper-local news, information and advertising.
The Company has fully implemented the first stage of its
partnership with Yahoo! HotJobs in all 22 of its daily newspapers
and is beginning to sell Yahoo! HotJobs in the Company�s weekly
publications. The Company will also begin selling the full suite of
Yahoo! HotJobs products in July. Mr. Hively provided an update on
the Company�s new Web site initiative which has been implemented in
the Greater Philadelphia cluster. The new online platform will be
rolled out across the remainder of the Company�s clusters during
2007. The new Web site initiative incorporates streaming video, pod
casting, expanded e-Commerce, Web and mobile services. The West
Chester, Pennsylvania, Web site, dailylocal.com, was recently
recognized by the Suburban Newspapers of America as a finalist for
best community initiative, site design, and architecture. Reviewing
the Company�s revenue assumptions for 2007, Ms. Beck indicated that
the Company expects same-store advertising revenue to be down
approximately four to five percent, while online revenues should
grow by about 30 percent and circulation revenue should increase by
approximately 0.5 percent. Non-newsprint cash operating expenses
are expected to decline by approximately two to three percent and
newsprint consumption, also on a same-store basis, is projected to
be down five percent for the year. Ms. Beck added that the price of
newsprint is lower by about six percent. The Company's presentation
will be available through June 26, 2007 via a link on Journal
Register Company's homepage, www.JournalRegister.com. 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.
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