Journal Communications Reports Radio Revs Up
April 20, 2010 at 7:04 AM (PT)
JOURNAL COMMUNICATIONS, INC. has announced results for its Q1 ended MARCH 28th.
"We generated a significant increase in operating earnings in the first quarter despite a decline in publishing and printing services revenue," said Chairman/CEO STEVE SMITH. "Ongoing discipline in expense management and aggressive action throughout the last year has substantially driven down our overall cost platform. In addition, the high operating leverage of the broadcast segment has allowed much of our increase in revenue to drop directly to operating earnings, further improving our financial results."
For their Broadcast Division, JOURNAL revenue increased 8.6% to $42.6 million compared to $39.2 million. Local advertising revenue increased 0.6% and national advertising revenue decreased 2.3%.
Revenue from television stations for the first quarter increased 9.4% to $28.4 million compared to $26.0 million.
For the first quarter, revenue from radio stations increased 7.1% to $14.2 million from $13.2 million. Radio political and issue advertising revenue was $0.1 million in 2010 and 2009. Operating earnings from radio stations were $2.6 million compared to $1.1 million. Radio operating expenses decreased 4.3% due to the reduction in employee-related costs and other cost saving initiatives.