Earnings: Journal Communications Revenue Falls; Profit Up
Second verse, same as the first: Journal Communications (JRN), publisher of the Milwaukee Journal Sentinel, posted a profit of $3.7 million but a 22.9 percent decrease in revenue to $105.1 million in the third quarter of 2009.
How did the company achieve a modest profit (especially compared to its $4.8 million loss last quarter) amid yet another terrible quarter for advertising? Through layoffs, of course. Expenses at the Journal Sentinel shrank 22 percent thanks to layoffs and a decline in the cost of paper; expenses at the company’s television stations fell 13.2
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