Journal Register March revenue falls |
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Thu, 19 Apr 2007 13:33
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YARDLEY, Pa. (AP) - Newspaper publisher Journal Register Co. said Thursday that its March revenue declined 5.1 percent due to weakness in Michigan, and declining classified ad sales.Total revenue from continuing operations for the four weeks ended April 1 slipped to $37.7 million from $39.7 million.Excluding results from the Michigan cluster, total revenue sagged 3.9 percent from the year-ago period.Advertising revenue dropped 6.1 percent to $29 million versus $30.9 million in the prior year.National ad sales, which represent about 4 percent of total advertising revenue, fell 30.1 percent to $1.2 million from $1.7 million on softness in telecommunications ad revenue.Retail ad revenue declined 3.6 percent with softness in the home furnishings stores and financial/insurance advertising revenue categories partially offset by strength in the services and smaller retail stores advertising revenue categories. Excluding the Michigan cluster, sales were down 3.5 percent.Classified advertising revenue slid 7.1 percent to $11.8 million from $12.7 million. Sales fell 4 percent excluding the Michigan cluster. Real estate ads slid 14.1 percent while auto advertising revenue sagged 11.5 percent. Excluding the Michigan cluster, real estate fell 10.1 percent, while autos dropped 9.7 percent.Online ad sales jumped 27.8 percent to $1.4 million.Circulation revenue dipped 2 percent to $7.1 million from $7.2 million.'Our overall advertising revenue results continue to be impacted by the Michigan economy but we are encouraged by some positive advertising signs in our Connecticut cluster led by our flagship paper, the New Haven Register, which was up 0.7 percent for the period with strength in retail advertising,' Chairman and Chief Executive Robert Jelenic said in a statement.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Journal Register January revenue drops 