Morris Revenues Offset by Expenses

Posted Wednesday, August 11, 2004 12:00 am

By: E&P Staff Morris Publishing Group LLC of Augusta, Ga., said second-quarter net income slipped to $8.2 million from $11.7 million in the year-ago period.

Earnings before interest, taxes, depreciation and amortization (EBITDA) dropped to $26.3 million from $28.7 million.

Total revenue for the quarter increased by 3.2% to $114.6 million, driven by growth in retail, classified and national advertising. But circulation revenue dropped 2.1% and total operating expenses rose 8%, driven by rising health care and benefits costs, newsprint, and other expenses.

Morris Publishing is a subsidiary of Morris Communications Co. LLC, a privately held media group.

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Morris Revenues Offset by Expenses

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