Journal Communications Q1 Radio Revenue Up 6.7%
May 2, 2013 at 9:04 AM (PT)
JOURNAL COMMUNICATIONS has reported results for its first quarter ended MARCH 31st, 2013.
The company noted, "For the first quarter, broadcasting revenue increased 31.1% to $58.2 million or 6.0% on a same-station basis. Total broadcast political advertising revenue decreased 61.4% to $0.5 million. Local advertising revenue, excluding political, was up 25.1%, or 3.2% on a same-station basis. National advertising revenue, excluding political, increased 41.0%, or 7.5% on a same-station basis. Retransmission revenue increased 145.1% to $5.4 million. Broadcasting operating earnings of $9.5 million increased 41.9%."
For Radio, the company reported, "For the first quarter, revenue from radio stations increased 6.7% to $15.9 million, or 2.8% on a same-station basis. Radio political advertising revenue was $0.1 million in each of 2013 and 2012. Local advertising revenue, excluding political, increased 7.2%, or 3.3% on a same-station basis, primarily due to an increase in retail advertising. National advertising revenue, excluding political, increased 2.1%, but decreased 1.3% on a same-station basis, primarily due to a decrease in communications advertising. Operating earnings from radio stations were $2.4 million compared to $2.9 million, a decrease of 15.3%. Radio operating expenses increased 11.9%, or 8.1% on a same-station basis, primarily due to employee-related expense increases and a non-cash building impairment charge of $0.2 million."
"We are very pleased to report that JOURNAL COMMUNICATIONS experienced revenue growth in the first quarter at both our television and radio stations and improving trends at the JOURNAL SENTINEL daily newspaper," said Chairman/CEO STEVEN J. SMITH.