By: Publishing company Journal Register Co. said Thursday its revenue for the five weeks ended Aug. 5 dropped 7.7 percent because of weakness in Michigan and a decline in auto and real estate ad sales.
Total revenue from continuing operations slipped to $41.5 million from $44.9 million in the prior-year period.
Excluding its Michigan publications, sales fell 6.5 percent. Results in Michigan have been hurt by weakness in the domestic auto industry.
Total advertising revenue slid 10.2 percent to $31.2 million versus $34.7 million a year ago because of the softness in Michigan.
Classified ad revenue declined 10.7 percent as auto ad sales tumbled 20.9 percent and real estate dropped 16.5 percent. Excluding Michigan, classified revenue fell 8.2 percent, with auto sales down 16.3 percent and real estate off 14.6 percent.
National ad sales, which make up about 4 percent of total ad revenue, sagged 26.2 percent on continued telecommunications weakness.
Retail revenue declined 8.4 percent on a poor performance from its building, hardware and garden stores segment. Excluding Michigan, retail sales dipped 7.4 percent.
Online revenue jumped 25.4 percent to $1.8 million.
Journal Register owns 22 daily newspapers and 346 non-daily publications. Shares rose 7 cents to $2.80 in morning trading.
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