Journal Communications earns $1.8M on aggressive cost-cutting, matches analysts’ expectations

Journal Communications earns $1.8M in 3rd quarter

MILWAUKEE — Media company Journal Communications Inc. says it returned to profitability in the third quarter as it continued aggressive cost-cutting efforts.

The Milwaukee-based company said Tuesday it earned $1.8 million, or two cents per share, in the quarter. That compares with a loss of $17.1 million, or 35 cents per share, in the same quarter last year.

Excluding one-time items, the company earned 8 cents per share for the quarter. That matches expectations of analysts polled by Thomson Reuters, who usually exclude one-time items from their estimates.

Revenue was $105.1 million, down 22.9 percent from the year-ago quarter.

The company says it expects modest increases in advertising revenue in the fourth quarter.

Shares fell 33 cents, or 7.3 percent, to close Tuesday at $4.22.

On the Net:

Journal Communications: www.journalcommunications.com/