By: E&P Staff McClatchy reported today advertising revenue for April fell 2.2% and total revenue declined 2.4% compared to the same period a year ago. Year-to-date, ad revenue is up 0.3% and total revenue is down 0.4%.
?We knew that Easter falling in April of 2006 would depress our classified advertising results compared to 2005 when Easter was in March,? Gary Pruitt, Chairman and CEO of McClatchy, said in a statement. ?So while revenues were down this April compared to last year, it was not unexpected. Based on current trends, we believe that second quarter advertising revenues will grow in the low-single digit range, similar to our first quarter 2006 advertising revenue growth.?
Retail advertising revenue fell 2.5%. National was down 3.3%. Classified decreased 3.7%. Within the classified category, real estate was up 15.6%, employment dropped 1.2%, and automotive plunged 23.3%.
Circulation revenue for April was down 2.4% to $113 million.
Daily circulation for the month dropped 3.6% and Sunday slipped 4.8%.
Advertising revenue for its California properties grew 1.4% to $37 million. Minneapolis was down 7.6% to $28.2 million. The Carolinas and the Northwest decreased -0.8% to $16 million and 1.7% to $14 million respectively.
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