Journal Communications Inc. today reported first quarter net earnings of $2.9 million, down from $3.4 million in the same period a year ago.
The quarterly earnings per share for the Milwaukee-based parent company of the Milwaukee Journal Sentinel remained flat at 5 cents.
The firm’s quarterly total revenues dipped slightly to $82.3 million from $83.9 million a year earlier.
A quote that was unattributed in the company’s quarterly earnings announcement stated, “Journal Communications reported a solid first quarter. Broadcast revenue was up 5.4 percent with the majority of our markets reporting revenue growth. We also had a number of other broadcast highlights in the quarter. First, we are pleased that our Milwaukee 620 AM WTMJ radio station extended its longstanding radio rights agreement with the Milwaukee Brewers. In addition, we reached a long-term agreement to originate the Green Bay Packers preseason television network. Publishing revenue was down for the quarter, although we posted positive operating earnings on strong cost controls. We faced tough comparisons to the first quarter 2011, during which incremental advertising and circulation revenue was driven by the Green Bay Packer Super Bowl appearance.”
