Journal’s 3Q TV Revenue Down 6.7%

Journal Communications Inc. today announced results for its third quarter ended Sept. 25 that included a 6.8% drop in revenue from its television stations to $27.9 million compared to $30.0 million in the previous year’s quarter.

Excluding political and issue advertising revenue of $1.8 million in 2011 and $4.3 million in 2010, revenue from television stations increased 1.6%.

Local advertising revenue increased 2.5% primarily due to an increase in retail, restaurants and automotive advertising.

National advertising revenue decreased 10.5% primarily due to a decrease in automotive advertising.

Operating earnings were $2.9 million compared to $5.5 million, a decrease of 47.4%. Television operating expenses increased 2.3% primarily due to higher employee-related expenses and promotion costs, the company said.

The company as a whole (including its newspaper and radio operations) had Revenue of $87.8 million, down 4.4%, and operating earnings of $8.1 million, down 26.9%.

“Journal Communications remained focused on growing our local market revenue share in a soft economic environment in the third quarter,” said Steven Smith, chairman of the Board and CEO. “While total broadcast revenue was down, core revenue, excluding political and issue advertising, was up. On the publishing side, a challenging advertising revenue environment was offset by improved circulation revenue and a solid increase in commercial print and distribution revenue.”

Read the company’s report here.