By: E&P Staff
Journal Communications said today that for 3Q, total revenue for its publishing division fell 5.1% to $80.4 million compared to the same period a year ago. The slip in revenue is reflected by the closing of the company?s printing plant in New Orleans and weak automotive advertising.
Operating earnings from the division dropped 6.6% to $9.7 million.
Total advertising revenue at the publishing division slipped 6.2% to $58.4 million. Retail was down 4.1% to $34.7 million. Classified revenue was down 10% to $19.6 million. National gained 13.8% to $2.6 million. Direct marketing fell 29.2% to $1.2 million.
Circulation revenue was down 1.7% to $13.8 million.
?Our daily newspaper had a disappointing 3Q, impacted negatively by the continued weakness in automotive classified advertising and a decline in retail advertising,? said Steven Smith, chairman and CEO of the company, in a statement.