Journal Communications, Inc. today announced second quarter results with revenue of $104.7 million, an increase of 4.9 percent; digital revenue of $5.4 million, up 10 percent; and operating earnings of $17.4 million, an increase of 34.4 percent. Total expenses of $87.3 million were up 0.5 percent.
“Last week, Journal Communications announced an exciting transaction with The E.W. Scripps Company, where together we will create two publicly traded media businesses that will continue to serve their communities with a commitment to integrity, excellence, and enterprise journalism,” said Steven J. Smith, chairman and CEO of Journal Communications.
“Today, we are focused on the second quarter of 2014 and we are pleased to report that Journal Communications revenue of $105 million grew nearly 5 percent, benefiting from the continued growth in television retransmission revenue.
“Digital revenue growth of 10 percent and radio revenue growth in the quarter were also encouraging.
“Increased revenue drove an operating earnings increase of 34 percent in the quarter. Earnings per share were $0.21 compared to $0.13 last year.”
The operating margin was 16.7 percent for the second quarter compared to 13 percent. Adjusted EBITDA was $23.8 million, an increase of 18.2 percent.