Journal Register Company Reports Period Seven Advertising Revenues.Business Editors TRENTON, N.J.--(BUSINESS WIRE)--Aug. 20, 2002 Journal Register Company (NYSE NYSE See: New York Stock Exchange :JRC JRC abbr. Junior Red Cross ) today reported that advertising revenues for the five weeks ended August 4, 2002 were $25.8 million, an increase of 2.4 percent as compared to $25.2 million for the five weeks ended August 5, 2001. For comparison purposes, where noted, the Company's advertising revenues are presented on a same-store basis, which excludes the revenues of the Company's acquisitions and dispositions from the current and prior year periods. On a same-store basis, the Company's total advertising revenues for Period Seven decreased 1.2 percent as compared to Period Seven of 2001. The Company's advertising results were led by growth in retail revenues. Retail advertising revenues, on a same-store basis, increased 1.7 percent as compared to the prior year period, which is the best year-over-year retail advertising performance since Period Seven of 2000. Strong year-over-year retail advertising results in Period Seven were reported by the Company's Central 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. Cluster, which was up 9.0 percent, the Connecticut Cluster, which reported a gain of 3.2 percent, and the Capital-Saratoga Cluster, which increased 3.1 percent, all led by strength in preprint pre·print n. Something printed and often distributed in partial or preliminary form in advance of official publication: a preprint of a scientific article. tr.v. advertising. On a same-store basis, classified advertising revenues in Period Seven decreased 4.5 percent as compared to the prior year period. Classified real estate advertising revenues, on a same-store basis, were up 6.2 percent as compared to the prior year period led by the Company's Greater Philadelphia, Mid-Hudson and Connecticut Clusters, up 15.3 percent, 6.9 and 5.7 percent, respectively. Total classified automotive advertising revenues, on a same-store basis, increased 3.0 percent as compared to Period Seven of 2001, with strength in the Company's Capital-Saratoga, 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. and Connecticut Clusters, up 14.5 percent, 11.5 and 5.8 percent, respectively. Classified employment advertising revenues were down 16.4 percent for Period Seven as compared to the prior year period. National advertising revenues, on a same-store basis, for Period Seven grew 0.8 percent as compared to Period Seven of 2001. Several Journal Register Company newspapers had strong advertising revenue performances in Period Seven. In the Company's Greater Philadelphia Cluster, The Times Herald in Norristown, Pennsylvania Norristown is a home rule municipality in Montgomery County, Pennsylvania, 6 miles (10 km) northwest of the city limits of Philadelphia, on the Schuylkill River. It is the county seat of Montgomery County GR6. was up 19.0 percent primarily due to the Company's launch of the Lansdale edition of the Sunday Times Herald in March; 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 10.9 percent with strength in classified automotive and classified employment; and the Daily Local News in West Chester, Pennsylvania The Borough of West Chester is the county seat of Chester County, Pennsylvania.GR6 Philadelphia is 25 miles to the east and Wilmington 17 miles to the south. was up 2.9 percent led by retail advertising and classified real estate. In addition, several of the Company's weekly newspaper groups in the Greater Philadelphia Cluster reported strong total advertising revenue results. Acme (company, jargon) ACME - /ak'mee/ 1. A Company that Makes Everything. The canonical imaginary business. Possibly also derived from the word "acme" meaning "highest point". 2. A program for MS-DOS. Newspapers, based in Ardmore, Pennsylvania Ardmore is an unincorporated community in the U.S. state of Pennsylvania. The United States Census Bureau has also defined a census-designated place (CDP) around the community for statistical purposes. The community has no legal existence as a municipality. was up 4.5 percent with strength in classified real estate and retail advertising revenues and Town Talk Newspapers, based in Media, Pennsylvania The borough of Media is the county seat of Delaware County, PennsylvaniaGR6 and is located 12 miles (19 km) west of Philadelphia. Media was incorporated in 1850 at the same time that it was named the county seat. was up 3.8 percent, led by strong retail advertising revenues. In Connecticut, advertising revenues for The Middletown Press increased 9.5 percent with strength in retail advertising and classified automotive and employment advertising, The Bristol Press increased 7.2 percent led by retail advertising, classified automotive and classified real estate, and The Herald in New Britain New Britain, city, United States New Britain, industrial city (1990 pop. 75,491), Hartford co., central Conn.; settled c.1686, inc. 1871. The tin shops and brassworks in the city were established in the 18th cent. reported an increase of 6.4 percent with strength in retail and classified real estate advertising. In 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 , 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 in total advertising revenues of 4.8 percent with strength in retail and classified automotive advertising revenues. Also in New York, The Oneida Daily Dispatch was up 3.2 percent led by growth in retail and classified real estate advertising revenues. In Central New England, the Company's weekly newspaper group, Southern Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. Newspapers, in Wakefield, Rhode Island reported an increase in advertising revenues of 5.6 percent with strength in retail advertising and classified real estate and the Taunton Daily Gazette
The Taunton Daily Gazette (and Taunton Sunday Gazette) is a daily newspaper founded in 1848. in Taunton, Massachusetts Taunton is a city in Bristol County, Massachusetts, United States. It is the seat of Bristol County and the hub of the Greater Taunton Area. As of the 2000 census, the city had a total population of 55,976. Taunton's nicknames are derived from its history. reported an increase of 2.5 percent in advertising revenues led by strength in retail and classified automotive. Total advertising revenues for 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. in 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 , Connecticut decreased 2.8 percent as compared to the prior year period. Retail advertising revenues in New Haven increased 3.0 percent as compared to the same period in 2001, primarily due to strong major account advertising. This represents the best year-over-year retail advertising performance since Period Five of 2000. Classified advertising revenues declined 9.0 percent. By category, classified real estate advertising revenues were up 6.9 percent, classified automotive revenues were up 4.6 percent and classified employment advertising revenues were down 19.7 percent for Period Seven as compared to the prior year period. National advertising revenues for the New Haven Register, cycling against a major telecommunications advertising campaign from the prior year period, decreased 4.6 percent year-over-year. Journal Register Company Web sites generated approximately 9.4 million page views in Period Seven, an increase of 40.2 percent as compared to the prior year period. Journal Register Company is a leading U.S. newspaper publishing company that owns 23 daily newspapers, including the New Haven Register, Connecticut's second largest daily and Sunday newspaper, and 224 non-daily publications. Journal Register Company currently operates 139 individual Web sites featuring the Company's daily newspapers and non-daily publications, which can be accessed at www.journalregister.com. All the Company's operations are strategically clustered in six geographic areas: Greater Philadelphia, Connecticut, Greater Cleveland, Central New England, and the Capital-Saratoga and Mid-Hudson regions of New York. The Company has an investment in PowerOne Media, Inc., a leading provider of online solutions for newspapers, hosting the largest online newspaper network in the U.S. This news release contains forward-looking statements that involve a number of risks and uncertainties, which could cause actual results to differ materially. These 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 and the unavailability of or a material increase in the price of newsprint, among other things. 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
SEVENTH PERIOD ADVERTISING REVENUE REPORT
(Dollars in thousands, unaudited)
Five Week Period Ended Thirty-one Week Period Ended
---------------------- ----------------------------
% %
Inc/ Inc/
08/04/02 08/05/01 (Dec) 08/04/02 08/05/01 (Dec)
-------- -------- ----- -------- -------- -----
Local $13,186 $12,373 6.6% $92,845 $85,359 8.8%
National 1,351 1,338 1.0% 8,608 8,740 (1.5)%
Classified 11,239 11,453 (1.9)% 70,951 71,436 (0.7)%
------- ------- ------ -------- -------- ------
Total advertising
revenues $25,776 $25,164 2.4% $172,404 $165,535 4.1%
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Note: The 2001 advertising revenues presented above exclude the
advertising revenues of the properties sold on January 31, 2001. The
revenues of the Company's acquisitions are included from the date of
acquisition in all periods presented above.
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