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Journal Q1 Revenue Down 1.9%, Radio Grows 1.5%
RADIO ONLINE | Thursday, April 26, 2012 | 2:38pm CT
Journal Communications reported first quarter total revenue of $82.3 million, down 1.9% from $83.9 million in 2011. Broadcast revenue increased 5.4% to $544.4 million compared to $542 million. Revenue from radio stations gained 1.5% to $14.9 million from $14.7 million. The company posted net earnings of $2.9 million (5 cents per share) as compared with $3.3 million (5 cents) in the year-ago period.
For the second quarter, Journal expects high-single digit broadcast revenue increases, compared to prior year, driven by an improving economy and higher political advertising revenue in key states. However, Journal anticipates publishing revenue to decline in the mid-single digits, compared to the prior year, excluding revenue from the Florida community newspaper operations sold in 2011, reflecting continued challenges with publishing advertising revenue. (04-26-12)
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