Journal Radio Revenues Up In Q3 But TV, Print Take Hit
October 18, 2005 at 9:22 AM (PT)
JOURNAL COMMUNICATIONS third quarter radio revenues rose 0.8% to $22 million, with operating earnings up 4.9% to $6.2 million.
The gains were eclipsed by losses in television, with TV off 16.3%, telecom off 5.4%, and publishing slightly up, resulting in revenue from continuing operations falling 2.5% to $189.4 million. Operating earnings from continuing operations fell 22.6% to $24.2 million, which includes $1.6 million in costs from storm damage and business interruption caused by HURRICANE KATRINA.
The company expects fourth quarter revenue of $186-191 million and net earnings between $14 million and $17 million, including an after-tax charge of $1.7-2 million due to KATRINA costs.