Hit hard by disruption and damage at its Lousiana publishing operations, Journal Communications’ net income dropped 27.2 percent to $14 million in 3Q05, or 19 cents per share, meeting the Thomson estimate. By comparison, the media company’s net income in 3Q04 was $19.2 million, or 25 cents per share. Even without Katrina, 3Q05 was challenging due to “continued weakness in advertising, especially in television, and the anticipated reduction in earnings at the telecommunications business,” as explained by Chairman and CEO Steven J. Smith. Telecom revenue dipped 5.4 percent while earnings dropped 43.9 percent. On the plus side, the Milwaukee Journal Sentinel finished the quarter with improved margins and earnings while the printing business showed a turnaround.
Earnings release | Webcast 11 a.m. eastern
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