This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Journal Communications Reports Third Quarter 2011 Results

Journal Communications, Inc. (NYSE:JRN) today announced results for its third quarter ended September 25, 2011.

“Journal Communications remained focused on growing our local market revenue share in a soft economic environment in the third quarter,” said Steven Smith, Chairman of the Board and Chief Executive Officer of Journal Communications. “While total Broadcast revenue was down, core revenue, excluding political and issue advertising, was up. On the Publishing side, a challenging advertising revenue environment was offset by improved circulation revenue and a solid increase in commercial print and distribution revenue.

“Effective cost management remains a company-wide priority. We recorded a $1.3 million pre-tax workforce reduction charge to align our expenses in Publishing with lower revenue, while still reducing total company expenses this quarter.

“We continue to position Journal Communications for growth in our markets by expanding our relevant local content, investing in interactive media and providing an enhanced value proposition for our advertising customers.”

Third Quarter 2011 Results

Note that unless otherwise indicated, all comparisons are to the third quarter ended September 26, 2010.

For the third quarter, revenue of $87.8 million decreased 4.4% compared to $91.8 million. Operating earnings of $8.1 million, which included a $1.3 million pre-tax workforce reduction charge, decreased 26.9% compared to $11.1 million. Net earnings were $4.4 million compared to $6.3 million.

In the third quarter, basic and diluted net earnings per share of class A and B common stock were $0.07 compared to $0.11 in 2010. Excluding an after-tax workforce reduction charge of $0.8 million and an after-tax gain on the sale of the remaining Florida operations of $0.2 million, basic and diluted net earnings per share of class A and B common stock were $0.08.

The operating margin was 9.2% for the third quarter compared to 12.1%. EBITDA (net earnings (loss) excluding the earnings/loss from discontinued operations, net; total other expense, net; provision (benefit) for income taxes; depreciation; amortization; and, if any, non-cash impairment charges) was $14.0 million compared to $17.2 million, a decrease of 18.7%.

Stock quotes in this article: JRN 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,501.65 -12.72 -0.08%
S&P 500 1,875.39 -4.16 -0.22%
NASDAQ 4,126.9670 -34.4910 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs