MILWAUKEE – Journal Communications Inc. on Tuesday posted a 12.1
percent decrease in fourth-quarter revenue and a 25.2 percent
decrease in net income.
Milwaukee-based media company said that total revenue for the
quarter ended Dec. 31 was $107.4 million, compared with $122.2
million in the fourth quarter of 2012. Net income for the
quarter was $11.3 million, or 22 cents per share, compared with
$15.1 million, or 30 cents, a year earlier.
Communications attributed the decrease in fourth quarter revenue
to the lack of political advertising that increased the
company’s 2012 financial results. Another factor contributing to
the lower revenue and income in the fourth quarter was the extra
week that was included in the fourth quarter of 2012, the
Communications delivered a solid fourth quarter in a
non-political year, driven by gains in core revenue in our
broadcast group and improving advertising revenue trends in
publishing. Revenue from NewsChannel 5 in Nashville, acquired in
December 2012, helped us replace some of the record political
advertising dollars we recorded in the fourth quarter last year.
Consolidated revenue of $107.4 million was up 11 percent,
compared to 2012, excluding the extra week and political revenue
in 2012,” said Steven J. Smith, chairman and CEO of Journal
the company, broadcast revenue for the quarter was $65.7
million, compared with $75.5 million a year earlier.
Additionally, publishing revenue, which includes the Milwaukee
Journal Sentinel, also declined, at $41.8 million compared with
$46.7 million in 2012.
For the full 2013 year,
Communications reported net income of $26.2 million, or 52 cents
per share, compared with $33.3 million, or 61 cents, in 2012.
Revenue was $397.3 million in 2013, compared with $393.1 million