Journal Register Company Reports Twelfth Period Advertising Revenues Business Wire - February 07, 2001 TRENTON, N.J.--(BUSINESS WIRE)--Feb. 7, 2001-- Journal Register Company (NYSE:JRC) Proforma advertising revenues for the five weeks ended December 31, 2000 were $26.8 million compared to $22.5 million for the four weeks ended December 26, 1999, an increase of 18.9 percent. On the same basis, classified revenues for the twelfth period of 2000 increased 22.2 percent, retail revenues were up15.4 percent and national revenues were up 47.8 percent.20 For comparison purposes, where noted, the Company's results are presented on a pro forma basis, which excludes the results of the St. Louis clusteroperations, and on a comparable day basis, which adjusts for the estimated impact of the additional days resulting from the Company's change to a 52/53-week fiscal year. The St. Louis cluster operations included the Suburban Journals, St. Louis, Missouri, and The Telegraph, Alton, Illinois, which were sold on August 10, 2000 and October 24, 2000, respectively.20 "On a pro forma, comparable day basis, the twelfth period 2000 advertising revenues were basically flat with last year's advertising revenues," said Journal Register Company Chairman, President and Chief Executive Officer Robert M. Jelenic. "Classified revenues increased 0.8 percent with employment, which continued strong, up 14.9 percent, automotive down 3.3 percent and real estate down 5.4 percent. Retail revenues, as we anticipated, improved somewhat versus November, but were still down 3.1 percent. National revenues were very strong, up 31.0 percent."20 For the year, advertising revenues on a pro forma, comparable day basis were up 3.1 percent as compared to the Company's 1999 results. Classified revenues led the way and were up 4.5 percent. Employment was very strong for the year, up 14.6 percent. Automotive was up 1.2 percent and real estate was down 3.4 percent. Retail revenues were flat for the year. National revenues were up 41.5 percent.20 On a comparable day basis, the Company had several strong advertising revenue performers for the twelfth period of 2000. The following individual newspaper results are for the twelfth period and have been presented on a comparable day basis.20 In New York, The Record, in Troy, was up 21.4 percent with strength in classified automotive and retail. The Saratogian, in Saratoga Springs, was up 15.7 percent led by strong retail results. The Daily Freeman, in Kingston, was up 3.7 percent led by classified employment.20 In central New England, Southern Rhode Island Newspapers, based in Wakefield, Rhode Island, was up 8.7 percent with strength in retail, classified employment and classified real estate. In Massachusetts, the Taunton Daily Gazette was up 4.4 percent with strong results in classified employment and classified automotive. In Ohio, The Morning Journal, in Lorain, was up 5.4 percent with strong results in classified employment and retail. In greater Philadelphia, the Daily Local News, in West Chester, Pennsylvania, was up 7.9 percent with strong results in classified employment. The Delaware County Daily & Sunday Times, in Primos, Pennsylvania, was up 3.6 percent with strength in classified automotive.20 The Company's flagship newspaper, the New Haven Register, New Haven, Connecticut, was down 6.1percent with continued softness in retail.20For the year, on a comparable day basis, strong advertising revenue performers were the Taunton Daily Gazette, up 9.2 percent; The Herald News, in Fall River, Massachusetts, up 8.9 percent; The Saratogian, up 5.9 percent; Southern Rhode Island Newspapers, up 5.4 percent; The News-Herald, in Willoughby, Ohio, up 4.2 percent; and The Morning Journal, up 3.7 percent. The New Haven Register was up 1.3 percent for the year.20 On a pro forma basis, the Company's Web sites generated an 80 percent increase in page views in theperiod as compared to the prior year period. In Connecticut, ctcentral.com, the Company's largest regional portal, contributed approximately 1.3 million page views for the period.20 Journal Register Company is a leading U.S. newspaper publishing company that owns 22 dailynewspapers, including the New Haven Register, Connecticut's second largest daily and Sunday newspaper, and 162 non-daily publications. Journal Register Company currently operates 103 individual Web sites featuring the Company's daily newspapers and non-daily publications, which can be accessed at journalregister.com. The Company currently has equity investments in AdOne, LLC, a premier Internet-based classified advertising service, and PowerAdz.com, LLC, a leading Internet infrastructure provider for the newspaper industry.20 This news release contains forward-looking statements that involve a number of risks and uncertainties, which could cause actual results to differ materially. These include, but are not limited to, the success of the Company's acquisition strategy, dispositions, competitive pressures and general or regional economic conditions. 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 publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. JOURNAL REGISTER COMPANY TWELFTH PERIOD ADVERTISING REVENUE REPORT (Dollars in thousands, unaudited) Five Week Four Week Fifty-three Fifty-two20 Period Period Week Period Week Period Ended (1) Ended (1) Ended (1) Ended (1) --------- --------- ----------- % % 12/31 12/26 Inc/ 12/31 12/26 Inc/ 2000 1999(2) (Dec) 2000 1999(2) (Dec) ----- ------- ----- ----- ------- ----- Local $16,512 $14,309 15.4% $161,900 $159,409 1.6% National 1,392 942 47.8% 12,971 9,052 43.3% Classified 8,875 7,265 22.2% 130,660 123,606 5.7% ------- ------- ----- -------- -------- ----- Total advertising revenues $26,779 $22,516 18.9% $305,531 $292,067 4.6% 3D3D3D3D3D3D3D 3D3D3D3D 3D3D3D 3D3D3D3D3D 3D3D3D3D3D3D3D3D 3D3D3D3D3D3D 3D3D 3D3D3D3D3D ------------------------------------- (1) The 1999 and 2000 revenues have been restated on a pro forma basis to exclude revenues from the Suburban Newspapers of Greater St. Louis (including the Ladue News) and The (Alton, IL) Telegraph, which were sold on August 10, 2000 and October 24, 2000, respectively, from all periods presented above ("pro forma revenues"). (2) As previously reported, Journal Register Company changed its fiscal year from a calendar year to a 52/53-week fiscal year effective December 26, 1999. The 1999 periods presented above have been restated on a 52/53-week fiscal reporting basis. CONTACT: Journal Register Company 20 Noelle Greene-Hunt, Director of Investor Relations 609/396-2200 voice; 609/396-2292 fax