Jones Lang LaSalle
Publisher profits down
TRENTON -- Profits for newspaper publisher Journal Register Co. fell in the first quarter, hindered by declining advertising and circulation revenues. Net income for the first three months of the year was $1.77 million, or 4 cents a share, down 76 percent from $7.5 million, or 18 cents a share, for the same period in 2005, the company reported Tuesday. Adjusted for a one-time refinancing charge, first-quarter profits were $5.2 million, or 13 cents a share, a penny above the consensus of analysts polled by Thomson Financial. Chairman and CEO Robert M. Jelenic said the figures represented solid financial results "in light of the impact the automotive industry has had on the local economies in our Michigan and Greater Cleveland clusters."
Publisher profits down
TRENTON -- Profits for newspaper publisher Journal Register Co. fell in the first quarter, hindered by declining advertising and circulation revenues. Net income for the first three months of the year was $1.77 million, or 4 cents a share, down 76 percent from $7.5 million, or 18 cents a share, for the same period in 2005, the company reported Tuesday. Adjusted for a one-time refinancing charge, first-quarter profits were $5.2 million, or 13 cents a share, a penny above the consensus of analysts polled by Thomson Financial. Chairman and CEO Robert M. Jelenic said the figures represented solid financial results "in light of the impact the automotive industry has had on the local economies in our Michigan and Greater Cleveland clusters."
posted by Jones Lang LaSalle NJ News Blog at 1:27 PM
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