Journal Register Company
about Journal Register our newspapers investor relations advertising opportunities press releases careers

April 19, 2007

Journal Register Company Reports Period Three Revenues

Yardley, PA – Journal Register Company (NYSE: JRC) today reported that total revenues for Period Three, from continuing operations, for the four weeks ended April 1, 2007 were $37.7 million compared to $39.7 million for the four weeks ended March 26, 2006, a decrease of 5.1 percent. Excluding results from the Michigan cluster, total revenues decreased 3.9 percent as compared to the prior year period.

Total advertising revenues for Period Three, from continuing operations, were $29.0 million compared to $30.9 million.

Chairman and CEO Robert M. Jelenic stated, “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.”

Revenue Performance by Category:

Online

Continued strong performance from the Company’s online operations produced online revenues, for Period Three of $1.4 million, an increase of 27.8 percent as compared to Period Three of 2006. Online revenues from JobsInTheUS for the period were up 33.3 percent. The Company’s Web sites had 4.2 million unique visitors generating 32.3 million page views in Period Three, representing an increase of 20.0 percent and 14.6 percent respectively.

Retail

Retail advertising revenues were down 3.6 percent in Period Three, as compared to the prior year period. The Company’s retail advertising revenues were down 3.5 percent excluding the results of the Company’s Michigan cluster. Softness in the home furnishings stores and financial/insurance advertising revenue categories was partially offset by strength in the services and smaller retail stores advertising revenue categories.

Classified

Classified advertising revenues for Period Three decreased 7.1 percent, as compared to the prior year period. Excluding the results from the Michigan cluster, total classified advertising revenues decreased 4.0 percent for the period.

Classified other advertising revenues increased 1.2 percent in Period Three, as compared to the prior year period. Excluding the results from the Company’s Michigan cluster, classified other advertising revenues increased 3.2 percent in Period Three.

Classified employment advertising revenues decreased 4.2 percent in Period Three, as compared to Period Three of 2006. The Company’s classified employment advertising revenues were down 1.3 percent excluding the results from the Company’s Michigan cluster.

The Company’s classified real estate advertising revenues decreased 14.1 percent. The Company’s classified real estate advertising revenues were down 10.1 percent excluding the results of the Company’s Michigan cluster.

Classified auto advertising revenues were down 11.5 percent, as compared to Period Three of 2006. Excluding results from the Company’s Michigan cluster classified auto advertising revenues were down 9.7 percent for the period.

National

National advertising revenues, which represent approximately four percent of total advertising revenues, decreased 30.1 percent in Period Three, as compared to the prior year period, with softness in the telecommunications advertising revenue category.

Circulation

Circulation revenues for Period Three decreased 2.0 percent as compared to the prior year period.

About Journal Register Company

Journal Register Company is a leading U.S. media company. Journal Register Company owns 22 daily newspapers and 345 non-daily publications. Journal Register Company currently operates 222 individual Web sites that are affiliated with the Company's daily newspapers, non-daily publications and its network of employment Web sites. These Web sites can be accessed at www.journalregister.com. All of the Company’s operations are strategically clustered in six geographic areas: Greater Philadelphia; Michigan; Connecticut; Greater Cleveland; and the Capital-Saratoga and Mid-Hudson regions of New York. The Company owns JobsInTheUS, a network of 19 premier employment Web sites.

Safe-Harbor

This release contains forward-looking information about Journal Register Company that is intended to becovered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can beidentified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and include discussions of strategy, financial projections and estimates and their underlying assumptions, the extentor timing of cost savings, charges, the extent of employees impacted, and statements about the future performance, operations, products and services of the Company. These forward-looking statements involve anumber of risks and uncertainties, which could cause actual results to differ materially. These risks anduncertainties include, but are not limited to, the success of the Company's acquisition strategy, dispositions, the ability of the Company to achieve cost reductions and integrate acquisitions, competitive pressures, general or regional economic conditions and advertising trends, the unavailability or a material increase in the price ofnewsprint and increases in interest rates. These and additional risk factors are outlined in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. The Companyundertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Financial Summary follows.

JOURNAL REGISTER COMPANY
PERIOD THREE AND YEAR-TO-DATE REVENUE REPORT
(Dollars in thousands, unaudited)
 
 
Period Three                          Year-To-Date
 
Four Weeks Ended                 Thirteen Weeks Ended
     
   
Revenues:
4/1/2007
3/26/2006
% Change
4/1/2007
3/26/2006
% Change
Advertising:
     Local
$15,973
$16,567
(3.6)
$46,719
$48,699
(4.1)
     Classified
11,809
12,708
(7.1)
36,077
38,981
(7.4)
     National
1,168
1,671
(30.1)
3,557
5,035
(29.4)
Total Advertising
$28,950
30,946
(6.4)
86,353
92,715
(6.9)
    
Circulation
7,097
7,240
(2.0)
22,912
23,081
(0.7)
Other revenue
   1,627
   1,523
   6.8
   4,860
   4,496
     8.1
Total Revenue Continuing Ops.
37,674
39,709
(5.1)
114,125
120,292
(5.1)
    
Discontinued Operations
   0
   2,997
   3,309
   9,298
    
Total Company
$37,674
$42,706
$117,434
$129,590


Notes:
(1) The revenues of the Company’s acquisitions are included from the date of acquisition in each period presented above.
(2) Other revenue is primarily Commercial Printing revenue
(3) Discontinued operations represent the recently sold New England publications

###
For more information: Journal Register Company
790 Township Line Road
Yardley, PA 19067
(215) 504-4200 voice;
(215) 504-4201 fax

Ricardo A. Venegas
Treasurer
rvenegas@journalregister.com

< back to press releases