By: E&P Staff Journal Register Co. said today that total revenue dropped 9.2% to $37.6 million in May compared to the same period a year ago. Advertising revenue fell 11.5% to $29 million.
In a statement, Senior Vice President and CFO Julie Beck said the company's weak results had to do with its Michigan and Cleveland properties. "Our unsatisfactory revenue results for period five reflect the difficult advertising market across all categories, generally. ? We are encouraged by the improvement in automotive advertising, which had the best performance trend of the year and by our continued growth in online revenue."
Retail advertising was down 13.8%. Classified advertising fell 8.4%. Within the classified category, auto slipped 6.8% -- excluding the Michigan cluster, auto advertising was down 1.6%. Employment dropped 7.3%. Real estate plunged 18.9%.
National advertising decreased 9.6%.
Circulation revenue was down 1%.
The company's online revenue was up 22.1% to $1.5 million.
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