Sunday, August 20, 2006

JS latest numbers a reason for gloom

Journal Communications reported last week that revenue for its publishing and broadcast divisions was up 10.3% for the reporting period compared to a year ago, but the JS continues to bleed at an alarming rate:

At the Publishing segment, revenues at the daily newspaper and the community newspapers and shoppers totalled $23.64 million, down 5.4% compared to $24.99 million.

Advertising revenue was $17.14 million, down 5.1% compared to $18.06 million. Circulation revenue of $4.17 million was essentially flat compared to $4.15 million. Other revenue of $2.33 million was down 16.2%, reflecting the loss of commercial printing due to the closure of the Louisiana printing plant.

At the daily newspaper, total advertising revenue was $12.35 million, down 4.7% compared to $12.96 million. Specifically, retail advertising was essentially flat, classified advertising revenue was down 16.0%, national advertising revenue of $0.89 million increased 48.1% and direct marketing revenue of $0.50 million was up 2.2%.

Within classified advertising, the help wanted, real estate, auto, and other verticals decreased 10.7%, 4.0%, 34.9%, and 22.7%, respectively. Circulation revenue at the daily newspaper was $3.96 million, up 0.7% compared to $3.93 million.

Other revenue at the daily newspaper of $0.68 million was up 40.2% compared to $0.49 million, reflecting growth in commercial printing and commercial delivery revenue.

At the company's community newspapers and shoppers operations, total advertising revenue was $4.79 million, down 6.0% compared to $5.10 million. Specifically, retail-advertising revenue was down 6.5%, classified advertising revenue decreased 4.2%, and other advertising revenue of $0.05 million was up 9.8%.

Circulation revenue at the community newspapers and shoppers of $0.21 million decreased 5.4%. Other revenue at the community newspapers and shoppers of $1.65 million decreased 28.1%, reflecting the loss of commercial printing due to the closure of the Louisiana printing plant.

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