By: (AP) Newspaper publisher Journal Register Co. posted a 5% increase in first-quarter profit as higher advertising revenue more than offset increased costs for newsprint and flat circulation revenues.
The Trenton-based publisher of the New Haven (Conn.) Register, The Trentonian and other newspapers said Friday that net income for the January-March period was $10.3 million, or 24 cents per share, up from $9.8 million, or 24 cents per share, in the year-ago quarter.
The latest results matched the 24 cents-per-share forecast of analysts surveyed by Thomson First Call.
Revenues rose 3% to $99.2 million, from $96.6 million.
"Our classified advertising revenues, particularly in the employment and real estate categories, were very strong and led our overall results," said Robert M. Jelenic, chairman and CEO. "Growth in our retail and national advertising revenue categories also contributed to our strong quarter."
Journal Register shares were down 2 cents at $19.18 on the New York Stock Exchange in morning trading.
Comments
No comments on this item Please log in to comment by clicking here