-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FE9z5+umyKpjUeLVGYL9Po8BOHO14jSHQLsyuz062nSGllkUb5ph15pz59ryLD94 WBIJjEEqOlNQE6HciVABxQ== 0001157523-07-009350.txt : 20070921 0001157523-07-009350.hdr.sgml : 20070921 20070921133819 ACCESSION NUMBER: 0001157523-07-009350 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070921 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070921 DATE AS OF CHANGE: 20070921 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JOURNAL COMMUNICATIONS INC CENTRAL INDEX KEY: 0001232241 STANDARD INDUSTRIAL CLASSIFICATION: NEWSPAPERS: PUBLISHING OR PUBLISHING & PRINTING [2711] IRS NUMBER: 200020198 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31805 FILM NUMBER: 071128937 BUSINESS ADDRESS: STREET 1: 333 WEST STATE STREET CITY: MILWAUKEE STATE: WI ZIP: 83203 FORMER COMPANY: FORMER CONFORMED NAME: JOURNAL CO DATE OF NAME CHANGE: 20030512 8-K 1 a5499370.txt JOURNAL COMMUNICATIONS, INC. 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ----------------------- Date of Report (Date of earliest event reported): September 21, 2007 Journal Communications, Inc. (Exact name of registrant as specified in its charter) Wisconsin 1-31805 20-0020198 - --------------- ------------------------ ------------------- (State or other (Commission File Number) (IRS Employer jurisdiction of Identification No.) incorporation) 333 West State Street, Milwaukee, Wisconsin 53203 ------------------------------------------------------------ (Address of principal executive offices, including zip code) (414) 224-2616 ------------------------------- (Registrant's telephone number) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c) Item 8.01. Other Events. - ---------- ------------- As previously disclosed, Journal Communications, Inc. ("Journal") and Journal Community Publishing Group, Journal's community newspaper and shopper subsidiary, sold the assets of three regional publishing and printing operations located in Ohio, Louisiana and New England, in separate transactions in June, July and August 2007, respectively. Each of the Ohio, Louisiana and New England publishing and printing operations were part of Journal's "Publishing" reportable segment and Exhibits 99.1 and 99.2 to this report reflect these publishing and printing operations as discontinued operations in the consolidated statements of earnings for each of the Company's quarterly periods in its fiscal year ended December 31, 2006 and its quarterly period ended April 1, 2007. Item 9.01. Financial Statements and Exhibits. - ---------- ---------------------------------- (a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Exhibits. The following exhibits are being filed herewith: (99.1) Consolidated Statements of Earnings (unaudited) of Journal Communications, Inc. for the quarterly periods ended March 26, June 25, September 24 and December 31, 2006, the year ended December 31, 2006 and the quarterly period ended April 1, 2007. (99.2) Segment Information (unaudited) of Journal Communications, Inc. for the quarterly periods ended March 26, June 25, September 24 and December 31, 2006, the year ended December 31, 2006 and for the quarterly period ended April 1, 2007. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. JOURNAL COMMUNICATIONS, INC. Date: September 21, 2007 By: /s/ Paul M. Bonaiuto ------------------------------------ Paul M. Bonaiuto Executive Vice President and Chief Financial Officer -3- JOURNAL COMMUNICATIONS, INC. EXHIBIT INDEX TO FORM 8-K Report Dated September 18, 2007 Exhibit No. (99.1) Consolidated Statements of Earnings (unaudited) of Journal Communications, Inc. for the quarterly periods ended March 26, June 25, September 24 and December 31, 2006, the year ended December 31, 2006 and the quarterly period ended April 1, 2007. (99.2) Segment Information (unaudited) of Journal Communications, Inc. for the quarterly periods ended March 26, June 25, September 24 and December 31, 2006, the year ended December 31, 2006 and for the quarterly period ended April 1, 2007. -4- EX-99.1 2 a5499370ex991.txt EXHIBIT 99.1 Exhibit 99.1
Journal Communications, Inc. Consolidated Statements of Earnings (unaudited) (dollars in thousands, except for shares and per-share amounts) 2006 Quarters 2007 Quarter ---------------------------------------------------------------- ------------ First Second Third Fourth Total First ------------ ------------ ------------ ------------ ------------ ------------ Continuing Operations: Revenue: Publishing $ 69,440 $ 67,910 $ 69,615 $ 77,765 $ 284,730 $ 66,457 Broadcasting 51,638 58,452 58,257 70,189 238,536 51,696 Printing services 16,310 16,686 15,456 18,504 66,956 16,874 Other 9,143 10,979 9,672 8,747 38,541 8,166 ------------ ------------ ------------ ------------ ------------ ------------ Total revenue 146,531 154,027 153,000 175,205 628,763 143,193 Operating costs and expenses: Publishing 36,561 36,430 36,033 40,874 149,898 36,875 Broadcasting 21,819 22,397 24,105 27,424 95,745 22,395 Printing services 13,788 14,007 12,910 15,424 56,129 14,165 Other 7,695 9,399 8,490 7,309 32,893 6,923 ------------ ------------ ------------ ------------ ------------ ------------ Total operating costs and expenses 79,863 82,233 81,538 91,031 334,665 80,358 Selling and administrative expenses 48,070 47,015 46,984 47,429 189,498 46,207 ------------ ------------ ------------ ------------ ------------ ------------ Total operating costs and expenses and selling and administrative expenses 127,933 129,248 128,522 138,460 524,163 126,565 ------------ ------------ ------------ ------------ ------------ ------------ Operating earnings 18,598 24,779 24,478 36,745 104,600 16,628 Other income and expense: Interest income and dividends 18 1 10 8 37 2 Interest expense (3,649) (3,877) (4,025) (4,056) (15,607) (2,998) ------------ ------------ ------------ ------------ ------------ ------------ Total other income and expense (3,631) (3,876) (4,015) (4,048) (15,570) (2,996) Earnings from continuing operations before income taxes 14,967 20,903 20,463 32,697 89,030 13,632 Provision for income taxes 5,914 8,384 8,238 12,711 35,247 5,392 ------------ ------------ ------------ ------------ ------------ ------------ Earnings from continuing operations 9,053 12,519 12,225 19,986 53,783 8,240 Discontinued operations 3,220 2,722 1,276 3,372 10,590 65,091 ------------ ------------ ------------ ------------ ------------ ------------ Net Earnings $ 12,273 $ 15,241 $ 13,501 $ 23,358 $ 64,373 $ 73,331 ============ ============ ============ ============ ============ ============ Weighted average number of shares: Basic 68,364,281 67,836,780 66,974,953 66,780,875 67,475,857 65,256,968 Diluted 72,859,331 72,318,319 71,461,595 71,281,044 71,984,963 69,778,936 Earnings per share: Basic: Continuing operations $ 0.12 $ 0.18 $ 0.17 $ 0.29 $ 0.77 $ 0.12 Discontinued operations 0.05 0.04 0.02 0.05 0.16 1.00 ------------ ------------ ------------ ------------ ------------ ------------ Net earnings $ 0.17 $ 0.22 $ 0.19 $ 0.34 $ 0.93 $ 1.12 ============ ============ ============ ============ ============ ============ Diluted: Continuing operations $ 0.12 $ 0.17 $ 0.17 $ 0.28 $ 0.75 $ 0.12 Discontinued operations 0.05 0.04 0.02 0.05 0.14 0.93 ------------ ------------ ------------ ------------ ------------ ------------ Net earnings $ 0.17 $ 0.21 $ 0.19 $ 0.33 $ 0.89 $ 1.05 ============ ============ ============ ============ ============ ============
EX-99.2 3 a5499370ex992.txt EXHIBIT 99.2 Exhibit 99.2
Journal Communications, Inc. Segment Information (unaudited) (dollars in thousands) 2006 Quarters 2007 Quarter ------------------------------------------------------------- ------------ First Second Third Fourth Total First ------------ ----------- ------------ ----------- ----------- ------------ Revenue - ------- Publishing $ 69,440 $ 67,910 $ 69,615 $ 77,765 $ 284,730 $ 66,457 Broadcasting 51,638 58,452 58,257 70,189 238,536 51,696 Printing services 16,310 16,686 15,456 18,504 66,956 16,874 Other 9,143 10,979 9,672 8,747 38,541 8,166 ------------ ----------- ------------ ----------- ----------- ------------ $ 146,531 $ 154,027 $ 153,000 $ 175,205 $ 628,763 $ 143,193 ============ =========== ============ =========== =========== ============ Operating earnings - ------------------ Publishing $ 7,141 $ 7,261 $ 9,013 $ 11,136 $ 34,551 $ 5,044 Broadcasting 11,586 16,159 15,052 23,090 65,887 9,995 Printing services 492 530 421 1,157 2,600 998 Other (621) 829 (8) 1,362 1,562 591 ------------ ----------- ------------ ----------- ----------- ------------ $ 18,598 $ 24,779 $ 24,478 $ 36,745 $ 104,600 $ 16,628 ============ =========== ============ =========== =========== ============ Depreciation and Amortization - ----------------------------- Publishing $ 3,165 $ 3,176 $ 3,089 $ 3,828 $ 13,258 $ 3,607 Broadcasting 2,999 3,226 3,140 3,605 12,970 3,148 Printing services 471 479 491 544 1,985 490 Other 213 216 226 210 865 260 ------------ ----------- ------------ ----------- ----------- ------------ $ 6,848 $ 7,097 $ 6,946 $ 8,187 $ 29,078 $ 7,505 ============ =========== ============ =========== =========== ============
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