Journal Communications Reports February Revenue for Its Publishing and Broadcast Groups

Journal Communications, Inc. (NYSE:JRN) announced today that for the second period ended February 24, 2008, total revenues for its Publishing and Broadcast groups of $33.61 million decreased 7.5% compared to $36.35 million reported for the second period ended February 25, 2007. This is due in large part to continued weakness in classified advertising revenue at the daily newspaper as well as a decline in local radio advertising, a portion of which resulted from changes in a sports affiliation agreement. For the second period 2008, advertising revenues of $28.52 million decreased 8.7% compared to $31.24 million for the 2007 second period. Both periods contained 28 days. Note that unless otherwise indicated, all comparisons are to the second period ended February 25, 2007. At the Publishing segment, revenues at the daily newspaper and the community newspapers and shoppers totaled $18.16 million, down 9.2% compared to $20.02 million. Advertising revenue was $13.08 million, down 12.3% compared to $14.91 million. Circulation revenue of $3.91 million was down 1.0%. Other revenue of $1.17 million was up 1.6%. At the daily newspaper, total advertising revenue was $10.66 million, down 12.6% compared to $12.20 million. Specifically, retail advertising revenue was down 1.5%, classified advertising revenue was down 21.2%, national advertising revenue of $0.51 million decreased 31.2% and direct marketing revenue of $0.20 million was down 54.5%. Within classified advertising, the help wanted, real estate/rentals and auto verticals were down 31.3%, 26.6% and 13.3%, respectively, and the other vertical was up 13.9%. Circulation revenue at the daily newspaper was $3.83 million, down 1.2% compared to $3.87 million. Other revenue at the daily newspaper of $0.86 million was up 13.4% compared to $0.76 million. Total interactive advertising revenue at the daily newspaper, which is reflected in the various revenue categories, increased 16.2% to $1.11 million compared to $0.96 million. At the Company’s community newspapers and shoppers operations, total advertising revenue was $2.41 million, down 10.8% compared to $2.71 million. This largely reflects declines in retail advertising revenue (down 10.3%) and classified advertising revenue (down 12.8%), due in part to the challenging economy in Florida. Other advertising revenue was $32,000. Circulation revenue at the community newspapers and shoppers of $86,000 increased 6.2%. Other revenue at the community newspapers and shoppers of $0.31 million decreased 21.0%. At the Broadcasting segment, total revenue at the Company’s radio and television stations of $15.45 million decreased 5.4% compared to $16.34 million. At the radio group, revenue of $5.17 million was down 11.5% compared to $5.85 million, in part reflecting changes in a sports affiliation agreement that previously included advertising revenue and is now fee-per-game. At the television group, revenue decreased 2.0% to $10.27 million compared to $10.49 million. Forward-looking Statements This press release contains certain forward-looking statements related to our businesses that are based on our current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Our written policy on forward-looking statements can be found on page 1 of our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission. About Journal Communications Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was founded in 1882. We are a diversified media company with operations in publishing, radio and television broadcasting, interactive media and printing services. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and 49 community newspapers and shoppers in Wisconsin and Florida. We own and operate 35 radio stations and 11 television stations in 12 states and operate an additional television station under a local marketing agreement. Our interactive media assets include 121 online enterprises that are associated with our daily and community newspapers and television and radio stations. We also provide a wide range of commercial printing services – including printing of publications, professional journals and documentation material – and operate a direct marketing services business. Tables Follow Journal Communications, Inc. Publishing Segment Information (unaudited) (dollars in thousands)                 Publishing revenue by category:   Second period of 2008 (A) Second period of 2007 (A)   Community Community Daily Newspapers Daily Newspapers % Change % Change % Change Newspaper & Shoppers Total Newspaper & Shoppers Total Daily CN&S Total   Advertising revenue: Retail $ 6,369 $ 2,006 $ 8,375 $ 6,468 $ 2,236 $ 8,704 (1.5 ) (10.3 ) (3.8 ) Classified 3,580 376 3,956 4,546 431 4,977 (21.2 ) (12.8 ) (20.5 ) National 513 -- 513 746 -- 746 (31.2 ) N/A (31.2 ) Direct Marketing 200 -- 200 440 -- 440 (54.5 ) N/A (54.5 ) Other -- 32 32 -- 38 38 N/A (15.8 ) (15.8 ) Total advertising revenue 10,662 2,414 13,076 12,200 2,705 14,905 (12.6 ) (10.8 ) (12.3 ) Circulation revenue 3,828 86 3,914 3,874 81 3,955 (1.2 ) 6.2 (1.0 ) Other revenue 862 312 1,174 760 395 1,155 13.4 (21.0 ) 1.6 Total revenue $ 15,352 $ 2,812 $ 18,164 $ 16,834 $ 3,181 $ 20,015 (8.8 ) (11.6 ) (9.2 )       Two periods of 2008 (B) Two periods of 2007 (B)   Community Community Daily Newspapers Daily Newspapers % Change % Change % Change Newspaper & Shoppers Total Newspaper & Shoppers Total Daily CN&S Total   Advertising revenue: Retail $ 11,985 $ 3,939 $ 15,924 $ 11,959 $ 4,243 $ 16,202 0.2 (7.2 ) (1.7 ) Classified 7,575 703 8,278 9,448 839 10,287 (19.8 ) (16.2 ) (19.5 ) National 1,371 -- 1,371 1,480 -- 1,480 (7.4 ) N/A (7.4 ) Direct Marketing 454 -- 454 771 -- 771 (41.1 ) N/A (41.1 ) Other -- 76 76 -- 98 98 N/A (22.4 ) (22.4 ) Total advertising revenue 21,385 4,718 26,103 23,658 5,180 28,838 (9.6 ) (8.9 ) (9.5 ) Circulation revenue 7,683 163 7,846 7,822 244 8,066 (1.8 ) (33.2 ) (2.7 ) Other revenue 1,712 524 2,236 1,520 544 2,064 12.6 (3.7 ) 8.3 Total revenue $ 30,780 $ 5,405 $ 36,185 $ 33,000 $ 5,968 $ 38,968 (6.7 ) (9.4 ) (7.1 )       (A) 2008 second period: January 28, 2008 to February 24, 2008. 2007 second period: January 29, 2007 to February 25, 2007. (B) Two periods of 2008: December 31, 2007 to February 24, 2008. Two periods of 2007: January 1, 2007 to February 25, 2007.     NOTE: Publishing segment information is provided to facilitate comparison of our publishing segment results with those of other publishing companies and is not representative of the overall business of Journal Communications or its operating results. The revenues for the period are not necessarily indicative of the results that may be expected for the fiscal year ending December 28, 2008. Journal Communications, Inc. Broadcasting Segment Information (unaudited) (dollars in thousands)                   Broadcasting revenue by radio and television:   Second period of 2008 (A) Second period of 2007 (A) % Change % Change % Change Radio Television Total Radio Television Total Radio Television Total     Revenue $ 5,173 $ 10,274 $ 15,447 $ 5,848 $ 10,489 $ 16,337 (11.5 ) (2.0 ) (5.4 )     Two periods of 2008 (B) Two periods of 2007 (B) % Change % Change % Change Radio Television Total Radio Television Total Radio Television Total     Revenue $ 10,097 $ 19,249 $ 29,346 $ 10,711 $ 19,631 $ 30,342 (5.7 ) (1.9 ) (3.3 )     (A) 2008 second period: January 28, 2008 to February 24, 2008. 2007 second period: January 29, 2007 to February 25, 2007. (B) Two periods of 2008: December 31, 2007 to February 24, 2008. Two periods of 2007: January 1, 2007 to February 25, 2007.   NOTE: Broadcasting segment information is provided to facilitate comparison of our broadcasting segment results with those of other broadcasting companies and is not representative of the overall business of Journal Communications or its operating results. The revenues for the period are not necessarily indicative of the results that may be expected for the fiscal year ending December 28, 2008.