JRC Journal Register

Journal Register Company (NYSE:JRC) today reported total revenues from continuing operations for Period Five, the four weeks ended June 3, 2007, were $37.6 million compared to $41.4 million for the four weeks ended May 28, 2006, a decrease of 9.2 percent. Excluding results from the Michigan cluster, total revenues decreased 7.9 percent as compared to the prior year period. Total advertising revenues for Period Five in 2007, from continuing operations, were $29.0 million compared to $32.8 million for Period Five in 2006, a decrease of 11.5 percent. Senior Vice President and Chief Financial Officer Julie A. Beck said, �Our unsatisfactory revenue results for Period Five reflect the difficult advertising market across all categories, generally, and the transitioning economies in two of our clusters � Michigan and Greater Cleveland. We are encouraged by the improvement in automotive advertising, which had the best performance trend of the year and by our continued growth in online revenue.� Revenue Performance by Category: Online Continued strong performance from the Company�s online operations produced online revenues for Period Five of $1.5 million, and an increase of 22.1 percent as compared to Period Five of 2006. The Company�s Web sites had 4.0 million unique visitors generating 28.8 million page views in Period Five, representing an increase of 16.2 percent and 5.2 percent, respectively, as compared to the prior year period. Retail Retail advertising revenues were down 13.8 percent in Period Five, as compared to the prior year period. The Company�s retail advertising revenues were down 13.0 percent excluding the results of the Company�s Michigan cluster. Softness in the financial/insurance and building/hardware/garden stores advertising revenue categories was partially offset by strength in the political advertising revenue category. Classified Classified advertising revenues for Period Five decreased 8.4 percent, as compared to the prior year period. Excluding the results from the Michigan cluster, total classified advertising revenues decreased 5.7 percent for the period. Classified other advertising revenues increased 0.3 percent in Period Five, as compared to the prior year period. Excluding the results from the Company�s Michigan cluster, classified other advertising revenues increased 2.8 percent in Period Five. Classified auto advertising revenues were down 6.8 percent, as compared to Period Five of 2006. Excluding results from the Company�s Michigan cluster, classified auto advertising revenues were down 1.6 percent for the period. Classified employment advertising revenues decreased 7.3 percent in Period Five, as compared to Period Five of 2006. The Company�s classified employment advertising revenues were down 7.2 percent excluding the results from the Company�s Michigan cluster. The Company�s classified real estate advertising revenues decreased 18.9 percent. The Company�s classified real estate advertising revenues were down 14.4 percent excluding the results of the Company�s Michigan cluster. National National advertising revenues, which represent approximately four percent of total advertising revenues, decreased 9.6 percent in Period Five, as compared to the prior year period, with softness in the telecommunications advertising revenue category. Circulation Circulation revenues for Period Five decreased 1.0 percent as compared to the prior year period. About Journal Register Company Journal Register Company is a leading U.S. media company. Journal Register Company owns 22 daily newspapers and 345 non-daily publications. Journal Register Company currently operates 226 individual Web sites that are affiliated with the Company's daily newspapers, non-daily publications and its network of employment Web sites. These Web sites can be accessed at www.JournalRegister.com. All of the Company�s operations are strategically clustered in six geographic areas: Greater Philadelphia; Michigan; Connecticut; Greater Cleveland; and the Capital-Saratoga and Mid-Hudson regions of New York. The Company owns JobsInTheUS, a network of 19 premier employment Web sites. Safe-Harbor This release contains forward-looking information about Journal Register Company that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as �believe,� �expect,� �may,� �will,� �should,� �project,� �plan,� �seek,� �intend,� or �anticipate� or the negative thereof or comparable terminology, and include discussions of strategy, financial projections and estimates and their underlying assumptions, the extent or timing of cost savings, charges, the extent of employees impacted, and statements about the future performance, operations, products and services of the Company. These forward-looking statements involve a number of risks and uncertainties, which could cause actual results to differ materially. These risks and uncertainties include, but are not limited to, the success of the Company's acquisition strategy, dispositions, the ability of the Company to achieve cost reductions and integrate acquisitions, competitive pressures including competition from non-newspaper forms of media , general or regional economic conditions and advertising trends, the unavailability or a material increase in the price of newsprint and increases in interest rates, changes in performance that affect financial covenant compliance or funds available for borrowing, technological changes, the adoption of new accounting standards or changes in accounting standards. These and additional risk factors are outlined in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Financial Summary follows. � JOURNAL REGISTER COMPANY PERIOD FIVE AND YEAR-TO-DATE REVENUE REPORT (Dollars in thousands, unaudited) � � Period Five Year-To-Date Four weeks ended Twenty-Two weeks ended Revenues: 6/3/2007� 5/28/2006� % Change� 6/3/2007� 5/28/2006� % Change� Advertising: Local $16,112� $18,681� (13.8) $82,630� $88,866� (7.0) Classified 11,731� 12,806� (8.4) 62,321� 67,886� (8.2) National 1,153� 1,275� (9.6) 6,162� 8,272� (25.5) Total Advertising 28,996� 32,762� (11.5) 151,113� 165,024� (8.4) � Circulation 7,095� 7,161� (0.9) 38,714� 39,052� (0.9) Other revenue 1,527� 1,508� 1.3� 8,433� 8,017� 5.2� Total Revenue Continuing Ops. 37,618� 41,431� (9.2) 198,260� 212,093� (6.5) � Discontinued Operations 0� 3,285� 3,309� 16,570� � Total Company $37,618� $44,716� $201,569� $228,663� � Notes: � (1) The revenues of the Company's acquisitions are included from the date of acquisition in each period presented above. � (2) Other revenue is primarily Commercial Printing revenue � (3) Discontinued operations represent the divestiture of the Company's New England newspapers