Journal Register Company Reports Period Eleven Advertising Revenues.TRENTON, N.J. -- Journal Register Company (NYSE NYSE See: New York Stock Exchange : JRC JRC abbr. Junior Red Cross ) today reported that total advertising revenues for the four weeks ended November 27, 2005 were $35.6 million, a decrease of 2.7 percent as compared to $36.5 million for the four weeks ended November 28, 2004. Advertising revenue trends continue to be impacted by softness in the classified automotive category and difficult comparisons in the national category partially offset by improvements in classified real estate and classified employment advertising revenues. Retail advertising revenues were also soft in Period Eleven. Classified advertising revenues for Period Eleven decreased 1.9 percent as compared to the prior year period. The Company's classified real estate advertising revenues increased 7.3 percent in Period Eleven as compared to the prior year period, with six of the Company's seven clusters reporting increases in this category. Growth in classified real estate advertising revenues was led by the Capital-Saratoga, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of cluster, up 38.0 percent, the Mid-Hudson, New York cluster, up 25.3 percent and the Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). cluster, up 22.9 percent. Classified employment advertising revenues increased 2.8 percent in Period Eleven as compared to Period Eleven of 2004. Five of the Company's clusters reported increases in classified employment advertising revenues as compared to the prior year period, led by the Capital-Saratoga, New York cluster, up 24.4 percent. Classified automotive advertising revenues were soft across the Company and decreased 19.3 percent as compared to Period Eleven of 2004. Retail advertising revenues for the Company decreased 2.0 percent in Period Eleven as compared to the prior year period. Softness in the home furnishings furnishings the extra type or quantity of hair on the head, tail, ears or legs, specified for a particular breed. For example, the feathers in setters, the beard in Bearded collies, the eyebrows in Schnauzers. and grocery/drug store advertising categories was partially offset by strength in the department/discount store and political advertising categories. The Company's Mid-Hudson, New York cluster reported retail advertising revenue gains in Period Eleven. National advertising revenues decreased 15.6 percent in Period Eleven as compared to the prior year period, when the Company reported a 26.0 percent increase over the same period in 2003. National advertising revenues, excluding the decline in the Company's Connecticut cluster, increased 8.6 percent for Period Eleven. Several of the Company's operations reported increased advertising revenues in Period Eleven as compared to the prior year period, as noted below. In the Greater Philadelphia cluster, The Mercury, in Pottstown, Pennsylvania Pottstown is a borough in Montgomery County, 40 miles (64 km) northwest of Philadelphia, on the Schuylkill River. Pottstown was laid out in 1752-53 and named Pottsgrove in honor of its founder, John Potts. , reported an increase in total advertising revenues for Period Eleven of 7.5 percent, led by retail, national, classified real estate and classified employment advertising revenues. The Phoenix, in Phoenixville, Pennsylvania Phoenixville is a borough in Chester County, Pennsylvania, 28 miles (45 km) northwest of Philadelphia at the junction of French Creek with the Schuylkill River. The population was 14,788 at the 2000 census. , was up 6.1 percent with growth in retail, national and classified employment advertising revenues. The Company's weekly newspaper group, InterCounty Newspapers, based in Newtown, Pennsylvania Newtown is the name of some places in the U.S. state of Pennsylvania:
In the Michigan Michigan (mĭsh`ĭgən), upper midwestern state of the United States. It consists of two peninsulas thrusting into the Great Lakes and has borders with Ohio and Indiana (S), Wisconsin (W), and the Canadian province of Ontario (N,E). cluster, the Company's weekly newspaper group, Heritage Group, based in Southgate, was up 6.0 percent, with strength in retail and national advertising revenues. In the Connecticut cluster, The Middletown Press reported an increase in total advertising revenues for Period Eleven of 11.6 percent as compared to the prior year period, with strength in retail, classified employment, classified real estate and classified automotive advertising revenues. Minuteman minuteman Colonial soldier of the American Revolution. Minutemen were first organized in Massachusetts in September 1774, when revolutionary leaders sought to eliminate Tories, or British sympathizers, from the militia by replacing all officers. Newspapers, based in Westport, was up 10.6 percent, with strength in retail, classified employment and classified real estate advertising revenues. Also in Connecticut, the New Haven Register The New Haven Register is a daily newspaper published in New Haven, Connecticut. It is the second largest newspaper in Connecticut, behind The Hartford Courant. It is owned by the Journal Register Company in Yardley, Pennsylvania. reported a decrease in total advertising revenues for Period Eleven of 7.3 percent, as compared to the prior year period. These results were impacted by difficult comparisons to Period Eleven of 2004 when the New Haven New Haven, city (1990 pop. 130,474), New Haven co., S Conn., a port of entry where the Quinnipiac and other small rivers enter Long Island Sound; inc. 1784. Firearms and ammunition, clocks and watches, tools, rubber and paper products, and textiles are among the many Register's total advertising revenues were up 6.0 percent as compared to the same period in 2003. National advertising revenues were down 35.0 percent as compared to the prior year period, impacted by tough comparisons to 2004 when the New Haven Register reported an increase in national advertising revenues of 41.6 percent as compared to the same period in 2003. Classified advertising revenues at the New Haven Register were up 5.7 percent with classified real estate advertising revenues up 31.1 percent, classified automotive advertising revenues down 4.1 percent and classified employment advertising revenues down 5.2 percent, each as compared to the prior year period. The New Haven Register reported an increase of 13.0 percent in classified employment advertising revenues in Period Eleven of 2004, as compared to the same period in 2003. Retail advertising revenues were down 4.4 percent as compared to the prior year period, impacted by softness in the home furnishings and electronics/appliance store categories, partially offset by strength in the grocery/drug store and building/hardware categories. In the Company's Mid-Hudson, New York cluster, the Company's weekly group, Roe Jan Independent Publishing, based in Hillsdale, was up 17.2 percent, with strength in retail, classified automotive, classified employment and classified real estate advertising revenues. Taconic Press, the Company's weekly group based in Millbrook, reported an increase of 15.4 percent in total advertising revenues, with growth in retail and all categories of classified advertising revenues. In the Company's Capital-Saratoga, New York cluster, The Record, in Troy, was up 10.6 percent, led by retail, classified employment and classified real estate advertising revenues. The Saratogian, in Saratoga Springs Saratoga Springs, resort and residential city (1990 pop. 25,001), Saratoga co., E N.Y.; inc. as a village 1826, as a city 1915. Skidmore College is the largest source of employment, but the city also has light manufacturing. , reported an increase of 5.0 percent, with growth in national, classified real estate and classified employment advertising revenues. The Company's Web sites produced online revenues in Period Eleven of $0.7 million, an increase of 25.5 percent as compared to the prior year period. Journal Register Company Web sites generated approximately 17.8 million page views in Period Eleven, an increase of 26.9 percent as compared to the prior year period. Prior to 2005, the Company had included online revenues in classified other advertising revenues, not in the specific classified categories of employment, automotive and real estate. Print and online advertising revenues are now reported on a combined basis in each category to calculate the percentage changes in these categories. Results for each period of 2004 have been reclassified to reflect this change. Journal Register Company is a leading U.S. newspaper publishing company. Journal Register Company owns 27 daily newspapers, including the New Haven Register, Connecticut's second largest daily and Sunday Sunday: see Sabbath; week. newspaper, and 338 non-daily publications. Journal Register Company currently operates 212 individual Web sites that are affiliated with the Company's daily newspapers, non-daily publications and its recently acquired 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 seven geographic areas: Greater Philadelphia; Michigan; Connecticut; Greater Cleveland Greater Cleveland is a nickname for the metropolitan area surrounding Cleveland in Ohio. Northeast Ohio refers to a similar but substantially larger area as described below. ; New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. ; and the Capital-Saratoga and Mid-Hudson regions of New York. The Company owns JobsInTheUS, a network of six premier employment Web sites in New England and has an investment in PowerOne Media, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a leading provider of online solutions for newspapers, hosting the largest online newspaper network in the U.S. This release contains forward-looking information about Journal Register Company that is intended to be covered by the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. provided by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified 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, and statements about the future performance, operations, products and services of the Company. These forward-looking statements involve a number of risks and uncertainties, which could cause actual results to differ materially. These risks and uncertainties 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 un·a·vail·a·ble adj. Not available, accessible, or at hand. un a·vail or a material increase in the price of newsprint newsprintlow grade paper used for newspapers. Old newspapers are fed to cattle as an alternative roughage and may occasionally be ingested by dogs. Significant amounts of lead are accumulated in tissues; no cases of poisoning have been recorded in cattle, though it has been and increases in interest rates. These and additional risk factors are outlined in the Company's most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission. The Company undertakes 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 ELEVEN ADVERTISING REVENUE REPORT
(Dollars in thousands, unaudited)
Four Week Period Ended Forty-Eight Week Period Ended
----------------------------- -----------------------------
11/27/05 11/28/04 % Change 11/27/05 11/28/04 % Change
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Retail $21,159 $21,582 -2.0% $217,211 $179,256 21.2%
Classified 12,770 13,015 -1.9% 166,625 132,608 25.7%
National 1,637 1,938 -15.6% 19,372 17,241 12.4%
--------- --------- --------- --------- --------- ---------
Total $35,566 $36,535 -2.7% $403,208 $329,105 22.5%
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Note: The revenues of the Company's acquisitions are included from the
date of acquisition in each period presented above.
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