Journal Communications Q3 Revenues Up 8.5%

RADIO ONLINE | Thursday, October 30, 2014

Journal Communications has announced results for its third quarter ended September 28. "We are pleased to report that Journal Communications third quarter revenue of $105 million grew more than 8%, driving an operating earnings increase of 40%. Earnings per share in the quarter were $0.14 compared to $0.09 last year," said Steven J. Smith, Chairman and CEO of Journal Communications.

Smith sited "continued growth in television retransmission revenue along with significant political and issue advertising spending in a number of our markets" as contributing factors. He added, "Our focused broadcast sales efforts grew both television and radio revenue, excluding retransmission and political, by approximately 3% and drove television and radio digital revenue up 22% and 31%, respectively."

Other highlights from the report included:

• Revenue of $105.1 million, up 8.5%
• Television revenue of $47.9 million, up 22.8%.
• Television retransmission revenue of $9.6 million, up 82.0%.
• Radio revenue of $21.6 million, up 5.1%
• Digital revenue of $5.0 million, up 9.9%
• Operating earnings of $14.2 million, up 40.4%.