Journal Communications Reports Second Quarter 2014 Results
August 7, 2014 Untitled Document
Journal Communications, Inc. today announced results for its second quarter ended June 29, 2014.
Second Quarter 2014 Highlights and Changes from Second Quarter 2013: * Revenue of $104.7 million, up 4.9%. * Television revenue of $46.9 million, up 12.8%. * Television retransmission revenue of $9.8 million, up 80.7%. * Radio revenue of $20.2 million, up 1.6% * Digital revenue of $5.4 million, up 10.0% * Operating earnings of $17.4 million, up 34.4%. * Diluted EPS of $0.21, compared to $0.13.
“Last week, Journal Communications announced an exciting transaction with The E.W. Scripps Company, where together we will create two publicly traded media businesses that will continue to serve their communities with a commitment to integrity, excellence, and enterprise journalism,” said Steven J. Smith, Chairman and CEO of Journal Communications.
“Today, we are focused on the second quarter of 2014 and we are pleased to report that Journal Communications revenue of $105 million grew nearly 5%, benefiting from the continued growth in television retransmission revenue.
“Digital revenue growth of 10% and radio revenue growth in the quarter were also encouraging.
“Increased revenue drove an operating earnings increase of 34% in the quarter. Earnings per share were $0.21 compared to $0.13 last year.”