Get ready for second-quarter earnings reports. This boring-sounding topic could actually become one of the most pivotal influences on your daily life, so keep those eyelids open. Bad reports mean more lay-offs are to come. Really bad reports mean a lot more lay-offs are to come. Here’s our regular listing culled from news releases:
For the second quarter of 2007, total pro forma operating revenues were down 4.0 percent . . . newspaper advertising revenues for the quarter were 5.3 percent lower . . . local advertising declined 4.0 percent . . . classified revenues for the quarter declined 7.5 percent. Real estate revenues were 9.9 percent lower, employment was down 7.1 percent and automotive declined 13.6 percent.
Total revenue for the quarter from continuing operations decreased 3.2 percent from a year ago to $281.4 million. Total advertising revenue decreased 3.1 percent, with online advertising up 61.2 percent. Combined print and online retail advertising decreased 2.8 percent. Combined print and online classified advertising revenue decreased 2.1 percent, with employment up 7.6 percent, automotive down 9.1 percent and real estate down 8.3 percent. Combined print and online national advertising revenue decreased 13.6 percent. Circulation revenue declined 3.3 percent.
On a pro forma basis, including the 20 former Knight Ridder newspapers in the first half 2006, total revenues in 2007 would have been down 6.7%, with advertising revenues down 7.6%, and circulation revenues down 4.1%. Cash operating expenses were down 9.3% in the first half and operating cash flow was up 2.4% in the first six months of the year.
Publishing Division profit in the quarter declined by 28.7 percent. Total Publishing revenues decreased 9.6 percent, and newspaper advertising revenues were down 11 percent from 2006. Classified advertising revenues decreased $9.6 million, or 16.7 percent. The Richmond Times-Dispatch was even with last year, while The Tampa Tribune and Winston-Salem Journal reported decreases of 36.7 percent and 8.9 percent, respectively.
Total revenues decreased 3.7 percent to $788.9 million from $819.6 million. Advertising revenues decreased 5.7 percent; circulation revenues decreased 0.5 percent; and other revenues rose 2.2 percent . . . Operating profit decreased 49.8 percent to $43.3 million from $86.2 million.
At Scripps newspapers, total revenue during the second quarter was $166 million vs. $182 million for the same period a year ago. Newspaper online revenue increased 25 percent year over year to $10.7 million.Newspaper segment profit for the period was $33.2 million vs. $55.1 million last year.
Publishing’s second quarter operating revenues were $920 million, down 9 percent, or $95 million . . . Publishing operating cash flow was $147 million, a 41 percent decline from $250 million in 2006. Publishing operating profit decreased 51 percent to $102 million, from $208 million in 2006 . . . Advertising revenues decreased 11 percent, or $91 million, for the quarter.
Print advertising revenue at The Post in the second quarter declined 13% to $128.4 million, from $148.3 million in the second quarter of 2006, and decreased 15% to $253.6 million for the first six months of 2007, from $298.1 million in the same period of 2006.
