Dow Jones & Company Announces November 2002 Advertising Results Increases Fourth Quarter Earnings Guidance.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 11, 2002 Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance & Company today announced November 2002 advertising results for its leading print publications. Advertising linage lin·age also line·age n. 1. The number of lines of printed or written material. 2. Payment for written work at a specified amount per line. linage Noun 1. , or volume, at The Wall Street Journal declined 4.5% compared to a decline of 45.2% in November of last year. On a per issue basis, linage increased 0.3% in November, representing the first positive comparable month since October 2000. Year-to-date total linage has declined 18.0% compared to a decline of 37.8% last year. The Company also announced that it anticipates December and fourth quarter 2002 linage at the Journal to decline in the low double digits Double Digits was a pricing game on the American television game show, The Price Is Right. Played from April 20, 1973 through May 18, 1973's show, it was played for a car and used small prizes. percentage range, resulting in fourth quarter EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. before special items in the mid 20 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. range. The Company currently expects to incur pretax special charges totaling approximately $22 million, or $0.17 per share after tax, predominantly to cover the costs of work force reductions, a lease write-off and related workforce reductions at joint ventures, and to accrete discount on the potential contract guarantee obligations to Cantor Fitzgerald Cantor Fitzgerald L.P. is a global financial services firm specializing in bond trading, as well as investment banking, asset management, market data and brokerage services. . Commenting on November results, Peter R. Kann, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Dow Jones & Company, said; "While we are pleased with our November advertising results and improved outlook for the fourth quarter, we don't yet have visibility to a sustainable ad recovery. Meantime, we continue to aggressively control everything we can to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. an improved business environment, when it arrives." General ad linage at the Journal decreased 11.8% in November 2002, mainly due to declines in insurance, office products and healthcare advertising, partially offset by increases in media, professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. and travel advertising. Technology linage was up 26.1% in November, primarily due to increases in personal computers and computer software and hardware advertising as several advertisers ran large global ad campaigns in November. These gains were partially offset by declines in communication and B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. advertising. Financial advertising declined 24.8% in November, mainly due to continued declines in wholesale, retail and tombstone Tombstone, city (1990 pop. 1,220), Cochise co., SE Ariz.; inc. 1881. With its pleasant climate and legendary past, Tombstone is a well-known tourist attraction. The city became a national historic landmark in 1962. advertising. Classified/Other linage increased 6.8% in November, due to increased residential and commercial real estate and flat other classified advertising. At Barron's, national advertising pages per issue increased 3.7% in November compared to a decline of 43.3% last year. Year-to-date advertising volume at Barron's declined 9.5% on a per issue basis compared to a decrease of 32.7% last year. The Wall Street Journal Europe's per issue linage increased 14.9% in November compared to a decrease of 41.0% last year, with a year-to-date per issue linage decline of 21.0%, compared to a decrease of 27.3% last year. The Asian Wall Street Journal's per issue linage increased 24.5% in November compared to a decrease of 42.9% last year with a year-to-date per issue linage decline of 22.5% compared to a decrease of 25.6% last year. Strong technology advertising from global ad campaigns was the primary reason for increases at both the European and Asian Journals. Ottaway Newspapers' total advertising linage, excluding properties acquired and divested in the last 12 months, for November 2002 was up 1.7%, compared to a decrease of 2.2% last year, due to increases in classified advertising. Year-to-date comparable total linage at Ottaway declined 1.8% compared to a decrease of 2.2% last year. Dow Jones & Company (NYSE NYSE See: New York Stock Exchange : DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires Dow Jones Newswires is the real-time financial news organization owned by Dow Jones. Founded in 1882, its primary competitors are Bloomberg L.P. and Reuters. The company reports more than 420,000 subscribers -- including brokers, traders, analysts and fund managers -- as of July , Dow Jones Indexes, and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. of CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S. Information Relating To relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those anticipated, including the cyclical nature of the company's business and the strong negative impact of economic downturns on advertising revenues; the severe weaknesses in the current technology and financial advertising markets; the extent of any recovery in the economy; the risk that the company will not be able to capitalize on improvements in the economy; and such other risk factors as may be included from time to time in the company's reports filed with the Securities and Exchange Commission.
Dow Jones & Company 2002 Advertising Linage Percentage Increases
(Decreases) from 2001
November Quarter-To- Year-To-Date
Date
Actual Per Actual Per Actual Per
Issue Issue Issue
------------ ------------ ------------
THE WALL STREET JOURNAL
General (11.8) (3.5) (10.0)
Technology 26.1 (19.1) (28.6)
Financial (24.8) (18.3) (29.2)
Classified & Other 6.8 2.4 (7.7)
Total (4.5) 0.3 (9.1) (7.0) (18.4) (18.0)
THE WALL STREET JOURNAL EUROPE 9.7 14.9 0.3 2.6 (21.3) (21.0)
THE ASIAN WALL STREET JOURNAL(1)18.8 24.5 12.4 14.9 (22.8) (22.5)
OTTAWAY NEWSPAPERS, INC. (2)
(excludes preprints)
Daily 3.4 4.2 (1.7)
Non-Daily (6.4) 1.1 (2.7)
Total 1.7 3.7 (1.8)
BARRON'S
Nat'l Advertising Pages 3.7 3.7 (4.6) 7.4 (11.4) (9.5)
2002 2001 2002 2001 2002 2001
Number of Issues:
THE WALL STREET JOURNAL 20 21 43 44 233 234
THE WALL STREET JOURNAL EUROPE 21 22 44 45 232 233
THE ASIAN WALL STREET JOURNAL 21 22 44 45 235 236
BARRON'S 4 4 8 9 47 48
(1) 2001 Linage restated to include Regionals and Personal Journal
(2) Excludes acquisitions and divestitures from the current and
prior year periods
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