Earnings: Journal Register Q3 Revs Fall 7 Percent; Online Revenue up 23.1 Percent

Newspaper publisher Journal Register (NYSE: JRC) reported a Q307 percent drop in revenue, to $112.9 million from $122 million, as it faces the same difficult advertising conditions as rest of the industry. The publisher of the New Haven Register and 21 other daily papers recorded a jump in net income, but only because of a tax benefit. Excluding these gains, the company’s net income fell to $3.3 million from $7.3 million, a 54.8 percent drop. A 9.4 percent drop in ad revenue was the primary culprit.

–Online revenue continues to perform well, as revenue grew by 23.1 percent to $4.8 million. It now accounts for 5.6 percent of all ad revenue. Traffic to the company’s sites grew 12.7 percent.

–Total Classified revenue fell 10.3 percent.

–While its peers are all blaming Florida for their woes, JRC is seeing major weakness at its Michigan cluster.

Release | Webcast

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