Journal Register Company Reports Period Six 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 June 25, 2006 were $33.7 million, a decrease of 3.4 percent as compared to $34.9 million for the four weeks ended June 26, 2005. For comparison purposes, the Company's advertising revenues are presented, where noted, on a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis, which assumes that all properties currently owned by Journal Register Company were owned in both the current and prior year periods. On a pro forma basis, Journal Register Company's advertising revenues for Period Six decreased 4.4 percent, as compared to Period Six of 2005, reflecting particular softness in the Company's Great Lakes Great Lakes, group of five freshwater lakes, central North America, creating a natural border between the United States and Canada and forming the largest body of freshwater in the world, with a combined surface area of c.95,000 sq mi (246,050 sq km). clusters, Michigan and 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. . The Company's Great Lakes clusters are affected by the economic issues facing the US automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . Excluding the results from the Company's Great Lakes clusters, pro forma advertising revenues were down 1.1 percent as compared to the prior year period. Continued strong performance from the Company's online operations produced online revenues for Period Six of $1.3 million, an increase of 40.7 percent as compared to Period Six of 2005, on a pro forma basis. Online revenues from JobsInTheUS for the period were up 84.9 percent, on a pro forma basis. Retail advertising revenues, on a pro forma basis, were down 2.9 percent in Period Six, as compared to the prior year period. The Company's retail advertising revenues were essentially flat on a pro forma basis excluding the results of the Company's Great Lakes clusters. Strength in the building/hardware/garden stores and financial/insurance advertising revenue categories was partially offset by softness in home furnishings and department store advertising revenue categories. Pro forma classified advertising revenues for Period Six decreased 6.2 percent, as compared to the prior year period. Excluding the results from the Great Lakes clusters, total classified advertising revenues decreased 2.7 percent for the period on a pro forma basis. The Company's pro forma classified real estate advertising revenues increased 0.3 percent. The Company's classified real estate advertising revenues were up 5.9 percent excluding the results of the Company's Great Lakes clusters. Growth in classified real estate advertising revenues for the Company's other clusters 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 11.5 percent and the Connecticut cluster up 8.3 percent. Classified employment advertising revenues decreased 7.2 percent in Period Six, as compared to Period Six of 2005, when the Company reported a 6.2 percent increase as compared to the same period in 2004. The Company's classified employment advertising revenues were down 4.2 percent excluding the results from the Company's Great Lakes clusters. Classified automotive advertising revenues continued soft, with a decrease of 19.8 percent, as compared to Period Six of 2005. National advertising revenues decreased 6.0 percent in Period Six, on a pro forma basis, as compared to the prior year period. Several of the Company's operations reported increased advertising revenues in Period Six, as compared to the prior year period, as noted below. In the Greater Philadelphia cluster, The Reporter, based in Lansdale, PA was up 4.7 percent with strength in retail and classified real estate advertising revenues. The Company's weekly group, Chesapeake Publishing, based in Medford, NJ, was up 19.3 percent with strength in retail and all classified revenue categories. In the Connecticut cluster, the Housatonic Publications, in New Milford New Milford. 1 Town (1990 pop. 23,629), Litchfield co., W Conn., on the Housatonic River; inc. 1712. Situated in a dairy region, its manufactures include paper products and electronic equipment. , reported an increase of 9.2 percent with strength in retail advertising revenue. 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 8.0 percent led by retail advertising revenue. In the 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, Hometown Publications, in West Warwick West Warwick (wôr`wĭk, –`ĭk), town (1990 pop. 29,268), Kent co., central R.I., on the Pawtuxet River; set off from Warwick and inc. 1913. Textile manufacturing remains a leading industry. West Warwick includes the village of River Point. , RI, reported an increase in total advertising revenues of 11.1 percent with strength in retail, classified real estate and classified automotive advertising revenues. In the Company's Mid-Hudson, New York cluster, The Daily Freeman The Daily Freeman is a seven-day-a-week morning newspaper in Kingston, New York, the Ulster County seat. Serving all of Ulster County and parts of three other counties in the Mid-Hudson Valley, the broadsheet publication has a weekday circulation of approximately 22,000. , in Kingston, NY, reported an increase of 3.5 percent with strength in retail and classified real estate advertising revenues. The Taconic Press in Millbrook was up 17.3 percent led by retail, classified employment and classified automotive advertising revenue categories. The Company produced online revenues in Period Six of $1.3 million, an increase of 40.7 percent as compared to the prior year period, on a pro forma basis. The Company's Web sites had 3.6 million unique visitors A count of how many different people access a Web site. For example, if a user leaves and comes back to the site five times during the measurement period, that person is counted as one unique visitor, but would count as five "user sessions. generating 28.7 million page views in Period Six. Journal Register Company is a leading U.S. newspaper publishing company. Journal Register Company owns 27 daily newspapers and 365 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 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; New England; and the Capital-Saratoga and Mid-Hudson regions of New York. The Company owns JobsInTheUS, a network of seven 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. 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 or a material increase in the price of newsprint newsprint low 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 SIX ADVERTISING REVENUE REPORT
(Dollars in thousands, unaudited)
Four Week Period Ended Twenty-Six Week Period Ended
----------------------------- -----------------------------
6/25/06 6/26/05 % Change 6/25/06 6/26/05 % Change
--------- --------- --------- --------- --------- ---------
Local $18,212 $18,585 -2.0 % $113,488 $116,392 -2.5 %
Classified 13,973 14,681 -4.8 % 88,149 90,289 -2.4 %
National 1,559 1,659 -6.0 % 10,204 10,570 -3.5 %
--------- --------- --------- --------- --------- ---------
Total $33,744 34,925 -3.4 % $211,841 $217,251 -2.5 %
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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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