US: Newspaper sale boosts Dow Jones’ earnings
Posted by Jean Yves Chainon on January 26, 2007 at 11:33 AM
Dow Jones & Co.'s fourth-quarter earnings rose sharply, fueled by the sale of its local newspapers.
Dow Jones' fourth-quarter net income rose to $192.9 million, $2.30 per share, from $41.2 million, 49 cents per share, a year earlier.
"For the fourth quarter and full year 2006, we bucked print industry trends and posted solid gains in revenue and earnings," said Chief Executive Rich Zannino in the earnings press release.
He also said that the performance was achieved through its organizational restructuring and transformation projects.
The redesigned Wall Street Journal was successfully launched on Jan. 2, as well as a redesigned Barron on Jan. 8.
But Dow Jones’ local newspapers, it seems, only provided significant revenue through their sale… Dow Jone’s financial success, and that of its executives, was based in big part on ‘restructuring’ – job cuts.
The Wall Street Journal publisher expects 2007 earnings per share of $1.40 to $1.55, before items, based on a revenue growth of 18% to 20% in 2006.
The company also said it would no longer give quarterly earnings and ad revenue forecasts, but only a full-year guidance outline.
Source: SmartMoney.com
"For the fourth quarter and full year 2006, we bucked print industry trends and posted solid gains in revenue and earnings," said Chief Executive Rich Zannino in the earnings press release.
He also said that the performance was achieved through its organizational restructuring and transformation projects.
The redesigned Wall Street Journal was successfully launched on Jan. 2, as well as a redesigned Barron on Jan. 8.
But Dow Jones’ local newspapers, it seems, only provided significant revenue through their sale… Dow Jone’s financial success, and that of its executives, was based in big part on ‘restructuring’ – job cuts.
The Wall Street Journal publisher expects 2007 earnings per share of $1.40 to $1.55, before items, based on a revenue growth of 18% to 20% in 2006.
The company also said it would no longer give quarterly earnings and ad revenue forecasts, but only a full-year guidance outline.
Source: SmartMoney.com
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