WINDSOR, Colo., May 20, 2013 /PRNewswire/ — Today, RealOrganized, Inc. announced another upgrade to their flagship RealtyJuggler Real Estate Software product.

This upgrade includes a new Valet Importer, which can load data from almost any data source into RealtyJuggler with just a single click.  “Loading fresh prospects into RealtyJuggler has never been easier.  Send us a sample of the data you need imported and we can create a customized importer menu specifically designed for that data format.  This is perfect for loading tax data, MLS data, or any other data source that you import on a regular basis into RealtyJuggler,” said Scott Schmitz President /CEO of RealtyJuggler.

A number of improvements have also been made to the RealtyJuggler Email Feed.  The Email Feed loads prospects from any web site into RealtyJuggler automatically.  Leads can be loaded from your web site, lead aggregator web sites such as Zillow and Trulia, as well as blogs.  RealtyJuggler also offers an open-house web app that can be used to collect contact information from open house visitors.

In today’s competitive environment, REALTORS and other real-estate professionals need efficient ways to respond quickly to fresh leads, as well as generate new business from database farming.  RealtyJuggler provides a centralized environment where all leads, regardless of source, are aggregated into a single unified database where they can be incubated using an automatic DRIP eMail sequence, placed on a touch-cycle and cultivated for best results.

About RealtyJuggler – RealtyJuggler is a cloud-based real estate software product for real estate agents and REALTORS. The software can be used for prospecting, touching past clients, transaction management and much more. RealtyJuggler is sold on a membership basis for $99 per year. It is multi-user and contains numerous features designed specifically for real estate, including transaction management, listing feedback, DRIP Letters, real-estate flyers, the ability to print mailing labels and much more.

About RealOrganized, Inc. – RealOrganized was founded in 2003 by a former executive from AOL and a top real estate agent, each with over a dozen years experience in their respective fields. The company’s mission is to create organizational software for the real estate industry. Visit:
http://www.RealtyJuggler.com
for more information.

Contact:  Scott Schmitz, RealOrganized, Inc. RealtyJuggler Real Estate Software http://www.RealtyJuggler.com Telephone: (970) 672-3467

This press release was issued through eReleases® Press Release Distribution. For more information, visithttp://www.ereleases.com.

 SOURCE RealOrganized, Inc.

 

Integration Allows Recruiters and Human Resource Professionals to Attract Top Job Candidates

SUNNYVALE, Calif.–(BUSINESS WIRE)–Simply Hired, a Gold level member of Oracle^® PartnerNetwork (OPN), today announced it has achieved Oracle Validated Integration of its performance-based job advertising solution with Oracle’s Taleo Business Edition. Simply Hired operates one of the world’s largest job search engines, which connects candidates and employers through its powerful search engine platform and performance-based job advertising solution. The integration with Oracle’s Taleo Business Edition enables recruiters and human resource professionals to easily advertise their jobs on Simply Hired from within the Oracle interface, making it easier to reach top talent.

“Achieving Oracle Validated Integration through Oracle PartnerNetwork gives our customers confidence that the integration between Simply Hired and Oracle’s Taleo Business Edition has been validated and that the products work together as designed. This helps reduce risk and improves the implementation cycles for our joint customers.”

To achieve Oracle Validated Integration, Oracle partners are required to meet a stringent set of requirements that are based on the needs and priorities of the customers. More than 5,000 small to midsize businesses across the nation use Oracle’s Taleo Business Edition for talent management and recruitment. Simply Hired makes it easy for these businesses to advertise job listings directly from Oracle’s Taleo Business Edition, enabling recruiters and human resource professionals to efficiently reach top talent in both active and passive candidate pools. Talent management professionals can also take advantage of job listing distribution through Simply Hired’s Partner Network of many thousands of websites, as well as daily email alerts.

“Simply Hired is thrilled to receive Oracle Validated Integration status with Oracle’s Taleo Business Edition as it is reinforces our effort to make finding top candidates as easy as possible for talent management professionals,” said James Beriker, president and CEO, Simply Hired. “Simply Hired is committed to matching the right candidates to employers, and now the many employers who use Oracle’s Taleo Business Edition can take advantage of our massive candidate reach – more than 30 million monthly unique visitors – to find the best talent out there.”

“Oracle Validated Integration applies a rigorous technical review and test process,” said Kevin O’Brien, senior director, ISV and SaaS Strategy, Oracle. “Achieving Oracle Validated Integration through Oracle PartnerNetwork gives our customers confidence that the integration between Simply Hired and Oracle’s Taleo Business Edition has been validated and that the products work together as designed. This helps reduce risk and improves the implementation cycles for our joint customers.”

With more than 30 million unique visitors per month, Simply Hired provides candidates access to over eight million job openings across all job categories and industries. Through its powerful search engine platform, Simply Hired reaches candidates on the web, social networks, mobile devices, email and through many thousands of partner sites.

About Simply Hired

Simply Hired®, a product and technology company that operates one of the world’s largest job search engines, connects candidates and employers through its powerful search engine platform and performance-based job advertising solution. With more than 30 million unique visitors per month, the company provides candidates access to over eight million job openings across all job categories and industries and reaches candidates on the web, social networks, mobile devices, email and through many thousands of partner sites. The Sunnyvale, California-based company has twice been named a “Top Workplace” by The Bay Area News Group and is privately held with funding from Foundation Capital and IDG Ventures.

About Oracle Validated Integration

Oracle Validated Integration, available through the Oracle PartnerNetwork (OPN), gives customers confidence that the integration of complementary partner software products with Oracle Applications and specific Oracle Fusion Middleware solutions have been validated, and the products work together as designed. This can help customers reduce risk, improve system implementation cycles, and provide for smoother upgrades and simpler maintenance. Oracle Validated Integration applies a rigorous technical process to review partner integrations. Partners who have successfully completed the program are authorized to use the “Oracle Validated Integration” logo. For more information, please visit Oracle.com at http://www.oracle.com/us/partnerships/solutions/index.html.

About Oracle PartnerNetwork

Oracle PartnerNetwork (OPN) Specialized is the latest version of Oracle’s partner program that provides partners with tools to better develop, sell and implement Oracle solutions. OPN Specialized offers resources to train and support specialized knowledge of Oracle products and solutions and has evolved to recognize Oracle’s growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to differentiate through Specializations. Specializations are achieved through competency development, business results, expertise and proven success. To find out more visit http://www.oracle.com/partners.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates.

WASHINGTON and SANTA MONICA, Calif., May 13, 2013 /PRNewswire/ – U.S. News & World Report, a multi-platform publisher of news and analysis, announced that it has expanded its relationship with TrueCar, Inc., an automotive pricing information and analysis company that helps create a better buying experience for consumers and dealers. U.S. News is now incorporating ClearBook^®, TrueCar’s full-featured used car valuation tool, in various places on the U.S. News Best Cars website.

(Logo: http://photos.prnewswire.com/prnh/20110118/LA31413LOGO)

TrueCar will be the exclusive provider of trade-in value and used car estimated market value data and pricing to 30 million annual visitors. U.S. News Best Cars becomes the latest automotive buying site to provide TrueCar’s ClearBook technology to used car buyers and sellers with transparent pricing information from actual used car sales data.

“TrueCar continues to launch new products that are in line with U.S. News’ mission of helping consumers make informed decisions,” says Bageshri Ghate, General Manager, Autos for U.S. News. “ClearBook gives used car shoppers more confidence regarding how much they should spend on a used car and what their own car is worth.”

With the introduction of ClearBook on U.S. News Best Cars, consumers visiting the site can now do the following:

• Find used vehicle pricing information for thousands of makes and models within a consumer’s local area including Expected Sale Price, Recommended List Price and Trade-in Price.
• View rankings of used car models based on a price range so consumers can find the best used cars within their budget.

“ClearBook helps millions of buyers, sellers and trade-in customers to more accurately price a used vehicle,” says Jason Nierman , Vice President, Business Development at TrueCar, Inc. ”ClearBook provides U.S. News customers with unprecedented transparency in the used car pricing information and valuation arena, which will enable them to make a smart used car buying decision.”

U.S. News already uses TrueCar new car pricing information to help its customers save time and money with a hassle-free new car buying experience. For more information on U.S. News Best Cars, please visit: www.usnews.com/cars.

About TrueCar, Inc.

TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for identically-equipped new cars in their geographic area. TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry and has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.

TrueCar is a data-driven company that sources, compiles, and analyzes car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold over 750,000 vehicles across the country. Its national network of more than 6,000 Certified Dealers is committed to provide no-hassle pricing for some of the country’s largest membership and service organizations, including American Express, AAA, USAA, and Consumer Reports that collectively represent more than one million monthly in-market customers.

You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.

ABOUT U.S. NEWS BEST CARS

Since 2007, U.S. News Best Cars, the automotive channel of U.S. News & World Report, has published rankings of the majority of new vehicles sold in America. Each year, U.S. News publishes the Best Cars awards, including Best Cars for the Money and Best Cars for Families.

U.S. News & World Report is a multi-platform publisher of news and analysis, which includes the digital-only U.S. News Weeklymagazine, www.usnews.com and www.rankingsandreviews.com. Focusing on Health, Money, Education, Travel, Cars and Public Service/Opinion, U.S. News has earned a reputation as the leading provider of service news and information that improves the quality of life of its readers. U.S. News & World Report’s signature franchise includes its News You Can Use® brand of journalism and its “Best” series of consumer guides that include rankings of colleges, graduate schools, hospitals, cars, mutual funds, health plans and more.

 

SOURCE TrueCar, Inc.

First Quarter 2013 compared to First Quarter 2012:

• Revenue of $94.7 million, up 15.1%
• Broadcast revenue up 31.1% , up 6.0% on a same-station basis
• Daily newspaper revenue trends improved with retail advertising revenue up 4.5%
• Publishing revenue down 3.8%, up 1.8% excluding northern Wisconsin community publications sold in December 2012
• Operating earnings of $8.5 million, up 47.3%
• Diluted EPS of $0.08, compared to $0.05 in 2012

MILWAUKEE–(BUSINESS WIRE)–Journal Communications, Inc. (NYSE:JRN) today announced results for its first quarter ended March 31, 2013.

“We are very pleased to report that Journal Communications experienced revenue growth in the first quarter at both our television and radio stations and improving trends at the Journal Sentinel daily newspaper”

“We are very pleased to report that Journal Communications experienced revenue growth in the first quarter at both our television and radio stations and improving trends at the Journal Sentinel daily newspaper,” said Steven J. Smith, Chairman and CEO of Journal Communications.

“Television revenue increased over 43%, driven by a solid quarter at the newly acquired NewsChannel 5 in Nashville. On a same-station basis, television revenue increased almost 8%, driven, in part, by increased retransmission revenue. In radio, revenue grew nearly 7% with same-station up almost 3%, with revenue increases seen in most markets. Same-station revenue was up more than 6% across the broadcast group.”

“Execution of an effective sales strategy at the Milwaukee Journal Sentinel drove year over year growth in retail ROP advertising and solid results in digital and commercial print. Excluding the divested northern Wisconsin publications, publishing revenue grew almost 2%.”

“Our overall revenue performance drove an operating earnings increase of over 47% in the quarter. Earnings per share were $0.08 compared to $0.05 last year.”

First Quarter 2013 Results

Note that unless otherwise indicated, all comparisons are to the first quarter ended March 25, 2012. Same-station comparisons exclude the operations of KHTT-FM and KBEZ-FM in Tulsa, Oklahoma and NewsChannel 5 in Nashville, Tennessee which were purchased in June and December 2012, respectively.

For the first quarter, revenue of $94.7 million increased 15.1% and operating earnings of $8.5 million increased 47.3%. Net earnings were $3.8 million, an increase of 29.9%. First quarter results were driven by the acquisition of Nashville NewsChannel 5 – WTVF-TV in December 2012.

In the first quarter, basic and diluted net earnings per share of class A and B common stock were $0.08 compared to $0.05 in 2012.

The operating margin was 8.9% for the first quarter compared to 7.0%. Adjusted EBITDA, as defined in Table 4, was $15.4 million, an increase of 33.2% from $11.6 million.

Consolidated and Segment Results

The following table presents our revenue and operating earnings (loss) by segment for the first quarters of 2013 and 2012 (dollars in millions).

		Q1			Q1			%
		2013			2012			Change
Revenue:
Broadcasting		$	58.2		$	44.4		31.1
Publishing			36.6			38.0		(3.8)
Corporate eliminations			(0.1)			(0.1)		58.1
Total Revenue		$	94.7		$	82.3		15.1
Operating earnings (loss):
Broadcasting		$	9.5		$	6.7		41.9
Publishing			0.9			0.7		17.3
Corporate			(1.9)			(1.7)		(13.1)
Total operating earnings		$	8.5		$	5.7		47.3

For the first quarter, total expenses of $86.2 million increased 12.7% compared to $76.5 million, driven by acquisitions in Nashville and Tulsa.

Broadcasting

For the first quarter, broadcasting revenue increased 31.1% to $58.2 million or 6.0% on a same-station basis. Total broadcast political advertising revenue decreased 61.4% to $0.5 million. Local advertising revenue, excluding political, was up 25.1%, or 3.2% on a same-station basis. National advertising revenue, excluding political, increased 41.0%, or 7.5% on a same-station basis. Retransmission revenue increased 145.1% to $5.4 million. Broadcasting operating earnings of $9.5 million increased 41.9%.

Television

Revenue from television stations for the first quarter increased 43.4% to $42.3 million, or 7.6% on a same-station basis. Television political advertising revenue was $0.4 million compared to $1.2 million. Local advertising revenue, excluding political, increased 36.7%, or 3.2% on a same-station basis, primarily due to an increase in automotive advertising. National advertising revenue, excluding political, increased 50.1% or 9.5% on a same-station basis, primarily due to increases in media and restaurant advertising. Operating earnings from television stations were $7.1 million, an increase of 84.3%. Television operating expenses increased 37.2%, or 10.4% on a same-station basis, excluding acquisition costs, primarily due to increases in network fees and employee-related costs.

Radio

For the first quarter, revenue from radio stations increased 6.7% to $15.9 million, or 2.8% on a same-station basis. Radio political advertising revenue was $0.1 million in each of 2013 and 2012. Local advertising revenue, excluding political, increased 7.2%, or 3.3% on a same-station basis, primarily due to an increase in retail advertising. National advertising revenue, excluding political, increased 2.1%, but decreased 1.3% on a same-station basis, primarily due to a decrease in communications advertising. Operating earnings from radio stations were $2.4 million compared to $2.9 million, a decrease of 15.3%. Radio operating expenses increased 11.9%, or 8.1% on a same-station basis, primarily due to employee-related expense increases and a non-cash building impairment charge of $0.2 million.

Publishing

For the first quarter, publishing revenue decreased 3.8% to $36.6 million, largely due to the sale of the northern Wisconsin community publications in December 2012. Operating earnings from publishing were $0.9 million, an increase of 17.3%. Total newsprint and paper expense of $3.8 million increased 0.2% as commercial printing volume increases were offset by price declines.

Daily Newspaper

Revenue at the daily newspaper for the first quarter increased 0.1% to $33.1 million. Total advertising revenue of $16.0 million declined 0.6%. Retail advertising revenue increased 4.5% due to successful programs that have grown share with local advertisers. Classified advertising revenue decreased 10.9% driven by a decrease in employment and automotive advertising. Digital advertising revenue of $2.9 million increased 12.6%, primarily due to an increase in sponsorship revenue. Circulation revenue of $12.0 million was down 2.2%. Other revenue of $5.1 million increased 8.5% driven by higher commercial printing revenue. Operating earnings from the daily newspaper were $0.8 million, a decrease of 5.5%. Daily newspaper operating expenses increased 0.3%, primarily due to increased costs associated with higher commercial printing revenue.

Community Newspapers

Community newspapers revenue for the first quarter decreased 29.6% to $3.5 million primarily due to the sale of the northern Wisconsin community publications in December 2012. Excluding revenue of $2.1 million related to the northern Wisconsin community publications in 2012, revenue increased by 20.3%, driven by commercial print revenue from the northern Wisconsin publications that we continue to print following the sale. Operating earnings from community newspapers and shoppers were $0.1 million compared to a loss of $0.1 million. Operating expenses declined to $3.5 million compared to $5.1 million as a result of the sale of the northern Wisconsin community publications in 2012.

Corporate

The operating loss for the first quarter was $1.9 million compared to $1.7 million.

Non-Operating Items

For the first quarter, other expense, which primarily consists of interest expense, was $2.1 million compared to $0.7 million. The increase in interest expense reflects an increase in average borrowings for the quarter.

The first quarter effective tax rate was 40.0% compared to 41.8%.

Notes Payable to Banks and Cash Flows

At the end of the first quarter, total debt was $239.3 million. During the first quarter, we reduced our total debt by $6.7 million as compared to the 2012 year-end. Our consolidated funded debt ratio, as defined in our credit agreement, was 2.22-to-1. Cash from operating activities was $8.7 million compared to $8.3 million due to an increase in net earnings. First quarter capital expenditures were $2.5 million compared to $2.8 million.

Second Quarter 2013 Outlook

In the second quarter of 2013, on a same-station basis excluding political advertising revenue, we expect total broadcast revenue to be up in the mid-single digits as compared to the second quarter of 2012. In publishing, excluding the northern Wisconsin community publications, we anticipate revenue declines in the low-single digits as compared to the second quarter of 2012.

Conference Call and Webcast

The company will hold an earnings conference call today at 10:00 a.m. Central Time (11:00 a.m. ET, 8:00 a.m. PT). To access the call, dial (866) 515-2909 (domestic) or (617) 399-5123 (international) at least 10 minutes prior to the scheduled start of the call. The access code for the conference call is 15265147. A live webcast of the first quarter conference call will be accessible through the Journal Communications’ website at www.journalcommunications.com/investors, also beginning at 10:00 a.m. CT this morning. An archive of the webcast will be available on this site today through May 9, 2013. Replays of the conference call will also be available through May 9, 2013. To hear the replay, dial (888) 286-8010 (domestic) or (617) 801-6888 (international) at least one hour after the completion of the call. The access code for the replay is 19678296. Pre-registration for the conference call is now available at www.journalcommunications.com/investors.

Annual Meeting of Shareholders

The company will hold its 2013 Annual Meeting of Shareholders on Tuesday, May 7, 2013 at 9:00 a.m. Central Time at the Imperial Ballroom of the Pfister Hotel, 424 East Wisconsin Avenue, Milwaukee, Wisconsin 53202.

About Journal Communications

Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was founded in 1882. We are a diversified media company with operations in television and radio broadcasting, publishing and digital media. We own and operate 15 television stations and 34 radio stations in 12 states. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and several community publications in Wisconsin. Our digital media assets build on our strong publishing and broadcasting brands.

Forward-looking Statements

This press release contains certain forward-looking statements related to our businesses that are based on our current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from the expectations expressed in the forward-looking statements, including, but not limited to, changes in advertising demand or the buying strategies of advertisers or the migration of advertising to the internet; changes in newsprint prices and other costs of materials; changes in federal or state laws and regulations or their interpretations (including changes in regulations governing the number and types of broadcast and cable system properties, newspapers and licenses that a person may control in a given market or in total or changes in spectrum allocation policies); changes in legislation or customs relating to the collection, management and aggregation and use of consumer information through telemarketing and electronic communication efforts; the availability of quality broadcast programming at competitive prices; changes in network affiliation agreements, including increased costs as networks seek a greater share of retransmission revenue; quality and rating of network over-the-air broadcast programs, including programs changing networks and changing competitive dynamics regarding how and when programs are made available to viewers; effects of the loss of commercial inventory resulting from uninterrupted television news coverage and potential advertising cancellations due to war or terrorist acts; and the effects of the rapidly changing nature of the publishing, broadcasting and printing industries, including general business issues, competitive issues and the introduction of new technologies. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Our written policy on forward-looking statements can be found in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission.

Tables Follow

												Table No. 1
Journal Communications, Inc.
Consolidated Statements of Operations (unaudited)
(dollars in thousands, except for shares and per-share amounts)
		First Quarter (A)
		2013						2012				% Change
Revenue:
Broadcasting		$	58,170					$	44,374			31.1
Publishing			36,580						38,021			(3.8	)
Corporate eliminations			(54	)					(129	)		58.1
Total revenue			94,696						82,266			15.1
Operating costs and expenses:
Broadcasting			28,202						22,426			25.8
Publishing			25,053						26,152			(4.2	)
Corporate eliminations			(54	)					(129	)		58.1
Total operating costs and expenses			53,201						48,449			9.8
Selling and administrative expenses			33,039						28,077			17.7
Total operating costs and expenses and selling and administrative expenses			86,240						76,526			12.7
Operating earnings			8,456						5,740			47.3
Other income and (expense):
Interest income			-						5
Interest expense			(2,133	)					(733	)
Total other income and (expense)			(2,133	)					(728	)		U
Earnings from continuing operations before income taxes			6,323						5,012			26.2
Provision for income taxes			2,530						2,093			20.9
Net earnings		$	3,793					$	2,919			29.9
Weighted average number of shares-Class A and B common stock:
Basic			50,170,685						50,381,619
Diluted			50,341,433			#			50,381,619
Weighted average number of shares-Class C common stock			-						3,264,000
Net earnings per share:
Basic – Class A and B common stock:		$	0.08					$	0.05
Diluted – Class A and B common stock:		$	0.08					$	0.05
Basic and diluted – Class C common stock:		$	-					$	0.19
# The two-class method of diluted EPS is no longer applicable in the first quarter of 2013, therefore the impact of non-vested restricted shares is included in diluted weighted average shares.
(A) 2013 first quarter: December 31, 2012 to March 31, 2013
2012 first quarter: December 26, 2011 to March 25, 2012
U Greater than 100% unfavorable variance

 

										Table No. 2
Journal Communications, Inc.
Segment Information (unaudited)
(dollars in thousands)
		First Quarter (A)
		2013				2012				% Change
Revenue
Broadcasting		$	58,170			$	44,374			31.1
Publishing			36,580				38,021			(3.8	)
Corporate eliminations			(54	)			(129	)		58.1
		$	94,696			$	82,266			15.1
Operating earnings (loss)
Broadcasting		$	9,521			$	6,709			41.9
Publishing			873				744			17.3
Corporate			(1,938	)			(1,713	)		(13.1	)
		$	8,456			$	5,740			47.3
Depreciation and amortization
Broadcasting		$	3,957			$	3,084			28.3
Publishing			1,747				2,472			(29.3	)
Corporate			172				165			4.2
		$	5,876			$	5,721			2.7
(A) 2013 first quarter: December 31, 2012 to March 31, 2013
2012 first quarter: December 26, 2011 to March 25, 2012

 

																												Table No. 3
Journal Communications, Inc.
Broadcasting and Publishing Segment Information (unaudited)
(dollars in thousands)
		First Quarter of 2013 (A)										First Quarter of 2012 (B)
Broadcasting:																						% Change			% Change			% Change
		Television			Radio			Total				Television			Radio				Total			Television			Radio			Total
Revenue		$	42,304		$	15,866		$	58,170			$	29,503		$	14,871			$	44,374		43.4			6.7			31.1
Operating earnings		$	7,099		$	2,422		$	9,521			$	3,851		$	2,858			$	6,709		84.3			(15.3	)		41.9
Publishing:
		Daily			Community							Daily			Community							% Change			% Change			% Change
		Newspaper			Newspapers			Total				Newspaper			Newspapers				Total			Daily			CN			Total
Advertising revenue:
Retail		$	12,199		$	1,427		$	13,626			$	11,679		$	3,165			$	14,844		4.5			(54.9	)		(8.2	)
Classified			3,191			425			3,616				3,580			599				4,179		(10.9	)		(29.0	)		(13.5	)
National			580			-			580				799			-				799		(27.4	)		N/A			(27.4	)
Direct Marketing			17			14			31				18			-				18		(5.6	)		N/A			72.2
Total advertising revenue			15,987			1,866			17,853				16,076			3,764				19,840		(0.6	)		(50.4	)		(10.0	)
Circulation revenue			12,014			356			12,370				12,280			432				12,712		(2.2	)		(17.6	)		(2.7	)
Other revenue			5,051			1,306			6,357				4,656			813				5,469		8.5			60.6			16.2
Total revenue		$	33,052		$	3,528		$	36,580			$	33,012		$	5,009			$	38,021		0.1			(29.6	)		(3.8	)
Operating earnings		$	821		$	52		$	873			$	869		$	(125	)		$	744		(5.5	)		F			17.3
(A) 2013 first quarter: December 31, 2012 to March 31, 2013
(B) 2012 first quarter: December 26, 2011 to March 25, 2012
F Greater than 100% favorable variance
NOTE:
Broadcasting and publishing segment information is provided to facilitate comparison of our broadcasting and publishing segments results with those of other broadcasting and publishing companies and is not representative of the overall business of Journal Communications or its operating results.

 

							Table No. 4
Journal Communications, Inc.
Reconciliation of Consolidated Net Earnings to Consolidated EBITDA and Adjusted EBITDA (unaudited)
(dollars in thousands)
		First Quarter (A)
		2013			2012
Net earnings		$	3,793		$	2,919
Provision for income taxes			2,530			2,093
Total other expense, net			2,133			728
Depreciation			5,114			5,340
Amortization			762			381
EBITDA		$	14,332		$	11,461
Acquisition and integration-related costs			785			55
Impairment of long-lived assets			238			-
Workforce reduction charges			32			38
Adjusted EBITDA		$	15,387		$	11,554
(A) 2013 first quarter: December 31, 2012 to March 31, 2013
2012 first quarter: December 26, 2011 to March 25, 2012
We define EBITDA as net earnings excluding earnings from discontinued operations, net, provision for income taxes, total other expense (which is comprised of interest income and expense), depreciation, and amortization; and we define Adjusted EBITDA as EBITDA excluding non-cash impairment charges, acquisition and integration-related costs, and workforce reduction charges. Our management uses EBITDA and Adjusted EBITDA, among other things, to evaluate our operating performance, and to value prospective acquisitions. EBITDA and Adjusted EBITDA are not measures of performance calculated in accordance with accounting principles generally accepted in the United States. EBITDA and Adjusted EBITDA should not be considered in isolation of, or as substitutes for, net earnings as indicators of operating performance or cash flows from operating activities as measures of liquidity. EBITDA and Adjusted EBITDA, as we calculate them, may not be comparable to EBITDA and Adjusted EBITDA reported by other companies.

 

										Table No. 5
Journal Communications, Inc.
Calculation of Diluted Earnings Per Share – Class A and B (unaudited)
(dollars and shares in thousands)
		First Quarter (A)
		2013					2012
Numerator for diluted earnings per share:
Dividends on class A and B common stock		$	-		*		$	-		*
Dividends on class C common stock			-					464
Dividends on non-vested restricted stock			-					-
Total undistributed earnings
Class A and B			3,793		*			2,283		*
Class C			-					148
Non-vested restricted stock			-		#			24
Net earnings		$	3,793				$	2,919
Denominator for diluted earnings per class A and B share:
Weighted average shares outstanding – Class A and B			50,171					50,382
Impact of non-vested restricted shares			164					-
Conversion of class C shares			-					-
Adjusted weighted average shares outstanding for class A and B			50,335		*			50,382		*
Diluted net earnings per share of class A and B:		$	0.08		*		$	0.05		*
* Included in calculation of diluted earnings per share – class A and B
# The two-class method of diluted earnings per share is not applicable for the first quarter of 2013, therefore undistributed earnings are not allocated to stock other than class A and B.
(A) 2013 first quarter: December 31, 2012 to March 31, 2013
2012 first quarter: December 26, 2011 to March 25, 2012

 

					Table No. 6
Journal Communications, Inc.
Consolidated Condensed Balance Sheets
(dollars in thousands)
		March 31, 2013			December 30,
		(unaudited)			2012
ASSETS
Current assets:
Cash and cash equivalents		$	2,131		$	2,430
Receivables, net			59,057			65,265
Inventories, net			2,982			2,944
Prepaid expenses and other current assets			4,848			3,980
Syndicated programs			2,294			2,446
Deferred income taxes			2,909			3,053
Total current assets			74,221			80,118
Property and equipment, net			168,532			171,354
Syndicated programs			4,862			5,200
Goodwill			124,318			125,818
Broadcast licenses			129,566			129,566
Other intangible assets, net			61,972			62,734
Deferred income taxes			41,104			43,019
Other assets			7,679			7,994
Total assets		$	612,254		$	625,803
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	21,454		$	26,861
Accrued compensation			9,307			10,715
Accrued employee benefits			5,848			5,155
Deferred revenue			16,069			16,277
Syndicated programs			2,370			2,686
Accrued income taxes			229			3,756
Other current liabilities			6,005			6,821
Current portion of unsecured subordinated notes payable			2,656			2,656
Current portion of long-term liabilities			107			126
Total current liabilities			64,045			75,053
Accrued employee benefits			91,978			92,907
Syndicated programs			5,213			5,477
Long-term notes payable to banks			223,405			230,095
Unsecured subordinated notes payable			13,279			13,279
Other long-term liabilities			3,716			3,491
Shareholders’ equity			210,618			205,501
Total liabilities and equity		$	612,254		$	625,803

FAIRPORT, N.Y., May 2, 2013 /PRNewswire/ –

First Quarter Highlights

• Total digital revenue increased 14.9% for the quarter.
• Total revenues for the first quarter were $110.9 million, down 6.0% from the prior year and down 5.7% on a same store basis.
• Operating costs and SG&A expense declined $2.8 million from the prior year, or 2.6%, to $103.1 million.  Adjusting for one-time items, operating costs and SG&A expense declined 1.8% from the prior year and core business operating costs and SG&A expenses declined $5.4 million, or 5.2%
• As Adjusted EBITDA was $8.4 million for the whole company and $11.6 million on the core business, excluding investment in GateHouse Ventures growth initiatives.
• Levered Free Cash Flow per share was ($0.14) versus ($0.03) for the prior year.
• Excess cash flow payment of $6.6 million was made on long-term debt in March.

GateHouse Media, Inc. (the “Company” or “GateHouse Media”) (OTC Pink Sheets: GHSE), a leading multi-media company providing news and information to local communities, today reported financial results for the first quarter ended March 31, 2013.  Total revenues were $110.9 million, a decrease of 6.0% versus the prior year.  On a same store basis total revenues declined 5.7% compared to the prior year.  Further, excluding the impact of the reduced Massachusetts foreclosure revenues due to recently enacted legislation, total revenues were down 4.5% to prior.  As Adjusted EBITDA was $8.4 million.  As Adjusted EBITDA on the core business, excluding new growth initiatives, was $11.6 million.

Commenting on GateHouse Media’s results, Michael E. Reed, Chief Executive Officer of GateHouse Media, said, “We continue to make strides in our new growth initiatives, particularly in the roll out of Propel Marketing, our digital solutions company.  While still a small part of GateHouse, Propel’s new business pipeline is growing and revenues in the first quarter surpassed all of 2012 revenues, which contributed to our overall 14.9% digital growth.  We are still making net investments in this initiative as we ramp up the business, which negatively impacted our year over year expense and profit comparisons in the quarter.

“Our total revenue on a same store basis, which was down 5.7% (4.5% decline excluding the particular Massachusetts foreclosure issue), continues to be impacted by heavy pressure on local print retail and classified advertising.  These two categories combined account for 39% of our total revenue and 61% of our advertising revenue.  Although we face continued secular pressures in these categories, we are also seeing particular softness in local retail print from reduced small business advertising spend.  Currently our larger regional and national advertising spend is holding up well, as evidenced by our preprint revenues being flat to prior year.  However, small businesses are holding back on spending.  Classified revenues continued to be impacted by lower foreclosure revenue in Massachusetts, which accounted for 20% of our total revenue decline and 40% of our classified revenue decline.  We will cycle this particular issue by the end of Q3.  We also saw weaker employment advertising in the quarter.  On a positive note, our preprint advertising has held up quite well and is flat year over year.  In addition, digital advertising revenue grew by 14.9% in the quarter and circulation was also up slightly over the prior year.

“After adjusting for one-time and non-cash items, our operating expenses declined 1.8% on a same store basis compared to the prior year and if you adjust for our investments in new growth initiatives our core businesses expenses were down 5.2%.  As Adjusted EBITDA was $8.4 million, a decline of $4.8 million compared to the prior year.  Half of the decline was due to our investment in new growth initiatives.  As Adjusted EBITDA in our core business was $11.6 million, a decline of $2.3 million compared to the prior year.  And a significant portion of the core business EBITDA decline was the result of $1.5 million loss in foreclosure revenue in Massachusetts.

“Investing in and growing our new digital services platforms will continue to be a primary focus throughout 2013.  And while our classified revenue has been impacted by the foreclosure issues in Massachusetts, we expect this to subside by the end of the third quarter and possibly reverse. We will remain focused on stabilizing our print advertising revenues while remaining diligent in our efforts to reduce core expenses.  We continue to explore alternatives to strengthen our capital structure as we move closer to the August 2014 maturity date on our long-term debt.”

First Quarter 2013 

Total revenues were $110.9 million for the quarter, a decline of 6.0% compared to the prior year and 5.7% on a same store basis.  The same store results were driven by strong digital revenue growth of 14.9% offset by declines in print advertising.  The improvement in digital revenue was driven primarily by increases from new growth initiatives, particularly Propel Marketing, and digital advertising in our core business.  Total advertising revenue declined 9.6% on a same store basis as growth in digital advertising was more than offset by declines in local print and classified revenue, which were down 9.1% and 16.2%, respectively.  Circulation revenue also increased slightly from the prior year.

Total operating and SG&A expenses in the quarter were $103.1 million, down 2.6% compared to the prior year and down 1.8% on a same store basis. The expense declines were primarily from lower compensation.  Excluding investments made in new growth initiatives, operating and SG&A expenses declined $5.4 million, or 5.2%, on a same store basis.

Operating loss for the quarter was ($2.7) million compared to operating income of $0.6 million in the prior year.  As Adjusted EBITDA for the quarter was $8.4 million, a decline of $4.8 million from the prior year.  Both the decline in Operating income and As Adjusted EBITDA are primarily due to lower revenues and investments in growth initiatives partially offset by lower core operating expenses.  Excluding new growth initiatives, core business As Adjusted EBITDA was $11.6 million, a decline of $2.3 million compared to the prior year.

Levered Free Cash Flow for the quarter was ($8.2) million.  Adjusting for the timing of interest payments, Levered Free Cash Flow was ($5.9) millioncompared to ($1.8) million in the prior year. The decline is primarily due to the additional $2.4 million net investment made in new growth initiatives.

One-time costs incurred and other non-cash expenses in the quarter were $1.5 million, and related primarily to reorganization efforts and initiatives introduced to realize permanent expense reductions.

About GateHouse Media, Inc.

GateHouse Media, Inc., headquartered in Fairport, New York, is one of the largest publishers of locally based print and online media in the United States as measured by its 78 daily publications.  GateHouse Media currently serves local audiences of approximately 10 million per week across 21 states through hundreds of community publications and local websites.  GateHouse Media is traded in the over-the-counter market under the symbol “GHSE.”

For more information regarding GateHouse Media and to be added to our email distribution list, please visit www.gatehousemedia.com.

Non-GAAP Financial Measures

A non-GAAP financial measure is generally defined as one that purports to measure historical or future financial performance, financial position or cash flows, but excludes or includes amounts that would not be so adjusted in the most comparable GAAP measure.  GateHouse Media defines and uses Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues, and Levered Free Cash Flow, non-GAAP financial measures, as set forth below.  The Company strongly urges stockholders and other interested persons not to rely on any single financial measure to evaluate its business.  In addition, because Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow are not measures of financial performance under GAAP and are susceptible to varying calculations, these non-GAAP measures, as presented in this press release, may differ from and may not be comparable to similarly titled measures used by other companies.

Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow

The Company defines Adjusted EBITDA as income (loss) from continuing operations before interest, income tax expense (benefit), depreciation and amortization and other non-recurring or non-cash items.  The Company defines As Adjusted EBITDA as Adjusted EBITDA before other non-cash items such as non-cash compensation, non-recurring integration and reorganization costs and Adjusted EBITDA from non-wholly owned subsidiaries.  The Company defines As Adjusted Revenues as total revenues plus revenues of discontinued operations less revenues from non-wholly owned subsidiaries. The Company defines Levered Free Cash Flow as As Adjusted EBITDA less capital expenditures, cash taxes and interest expense, excluding non-wholly owned subsidiaries.

Management’s Use of Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow

Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow are not measurements of financial performance under GAAP and should not be considered in isolation or as alternatives to income from operations, net income (loss), cash flow from continuing operating activities or any other measure of performance or liquidity derived in accordance with GAAP.  GateHouse Media’s management believes these non-GAAP measures, as defined above, are useful to investors for the following reasons:

• Evaluating performance and identifying trends in day-to-day performance because the items excluded have little or no significance on its day-to-day operations;
• Providing assessments of controllable expenses that afford management the ability to make decisions which are expected to facilitate meeting current financial goals as well as achieving optimal financial performance; and
• Indicators for management to determine if adjustments to current spending decisions are needed.

Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow provide GateHouse Media with measures of financial performance, independent of items that are beyond the control of management in the short-term, such as depreciation and amortization, taxation and interest expense associated with its capital structure.  These metrics measure GateHouse Media’s financial performance based on operational factors that management can impact in the short-term, namely the cost structure or expenses of the organization.  Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow are some of the metrics used by senior management and the Board of Directors to review the financial performance of the business on a monthly basis.  In addition, GateHouse Media’s management utilizes these metrics to evaluate the Company’s performance, along with other criteria, to determine the funds available for paying the quarterly dividend.

Forward-Looking Statements

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to various risks and uncertainties, including without limitation, statements relating to progress made by the Company in its integration efforts, growth in revenues and cash flow, on-line revenues, expense reduction efforts and potential acquisition and sale opportunities.  Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “would,” “project,” “predict,” “continue” or other similar words or expressions.  Forward looking statements are based on certain assumptions or estimates, discuss future expectations, describe future plans and strategies, contain projections of results of operations or of financial condition or state other forward-looking information.  The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain.  Although the Company believes that the expectations reflected in such forward looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements.  Factors which could have a material adverse effect on the Company’s operations and future prospects or which could cause events or circumstances to differ from the forward-looking statements include, but are not limited to, the condition of the  economy and the credit markets generally, the Company’s ability to maintain adequate liquidity and financing sources and an appropriate level of debt, the Company’s ability to maintain debt covenants, the Company’s ability to successfully grow digital revenues and audience and consumer revenues, the Company’s ability to successfully stabilize print revenues, the ability of the Company to successfully identify and develop new business ventures, the Company’s ability to close on a timely basis upon announced or contemplated transactions, unexpected liabilities arising from any transaction or that the Company will not receive the expected benefits from the transaction, the Company’s ability to generate sufficient cash flow to cover required interest and long-term obligations, the effect of the Company’s indebtedness and long-term obligations on its liquidity, the Company’s ability to integrate acquired assets and businesses, any increases in the price or reduction in the availability of newsprint, seasonal and other fluctuations affecting the Company’s revenues and operating results, any declines in circulation, the Company’s ability to obtain additional capital on terms acceptable to it, the Company’s ability to compete effectively in the local media industry, the Company’s success or failure in pursuing its digital business and related initiatives and strategic realignments and undertakings, increases in health costs, the Company’s vulnerability to economic downturns, regulatory changes or acts of nature in certain geographic areas, increases in competition for skilled personnel, a portion of the Company’s workforce being unionized, departure of key officers, increases in market interest rates, the cost and difficulty of complying with increasing and evolving regulation, and other risks detailed from time to time in the Company’s SEC reports, including but not limited to its most recent Annual Report on Form 10-K filed with the SEC under Commission File Number 001-33091.  When considering forward- looking statements, readers should keep in mind the risk factors and other cautionary statements in such SEC filings.  Readers are also cautioned not to place undue reliance on any of these forward-looking statements, which reflect management’s views as of the date of this press release.  The factors discussed above and the other factors noted in the Company’s SEC filings could cause actual results to differ significantly from those contained in any forward-looking statement.  Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements and expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

 

 

 

 

 

 

 

 

 

 

 

 

SOURCE GateHouse Media, Inc.

The first in a series of non-English versions to be rolled out globally

MAYNARD, Mass.–(BUSINESS WIRE)–Expanding its growing adoption in the U.S. among enterprise companies and staffing firms, Monster, the worldwide leader in successfully connecting people to job opportunities and flagship brand of Monster Worldwide, Inc. (NYSE: MWW) today announced the launch of SeeMore™ in France, the first semantic search and workforce analytics recruitment platform available in the French market. Powered by Monster’s 6Sense™ semantic search technology, SeeMore offers employers a powerful solution to reduce recruitment costs and improve hiring efficiency and effectiveness.

“Companies who can crack the code of managing their data in recruitment will improve efficiency and cost per hire, gain knowledge to make strategic business and hiring decisions, and ultimately achieve the competitive edge they’re after.”

“SeeMore provides the focus for recruitment teams to build relationships and manage talent, which in turn empowers them with actionable information and predictive workforce analytics to grow their business,” said Mark Conway, Chief Information Officer, Monster Worldwide. “Companies who can crack the code of managing their data in recruitment will improve efficiency and cost per hire, gain knowledge to make strategic business and hiring decisions, and ultimately achieve the competitive edge they’re after.”

Through simple, seamless integration with all systems, SeeMore consolidates all of a company’s resumes from multiple sources and stores a copy in one safe, secure location. The precision of Monster’s 6Sense semantic search technology then searches resumes from internal databases, Monster’s database, referrals, and social networks, to sort and rank the best candidates all in one place. With SeeMore, companies move beyond talent sourcing to talent management, using advanced analytics for strategic workforce planning. HR teams can better streamline their talent management workflow reducing recruitment costs and improving the productivity of HR teams.

In a CXP-Monster France survey of more than 570 HR and Recruiting Managers in France ⁱ, the biggest recruitment challenges include lack of time (59%), targeting good talent pools (55%) and the quantity of data being managed (50%). HR departments today face two main challenges; an overwhelming amount of data from multiple sources and the lack of advanced technology to help manage the talent pools. Talent management technology is expressed as a barrier by 37% of participants, which presents an opportunity for these managers in the French market.

“With SeeMore on the market in France, Monster will be giving a new dimension to its HR solutions, thus becoming a 360-degree talent management partner for our customers,” said Gilles Cavallari, General Manager of Monster France, Spain and Belux. “In a job market that has been undergoing massive changes, Monster’s role has evolved; we will connect seekers and employers, globally, by providing innovative HR solutions with high added value.”

SeeMore™ in France has been ranked second out of 43 at a Big Data Innovation Trophy event, which rewards innovative products in big data management.

SeeMore is currently available in the US, Canada, UK, Australia and now France. For more information on Monster’s SeeMore cloud technology and full suite of Monster technology solutions, visit http://findbetter.monster.com/.

About Monster Worldwide

Monster Worldwide, Inc. (NYSE:MWW), is the global leader in successfully connecting job opportunities and people. Monster uses the world’s most advanced technology to help people Find Better, matching job seekers to opportunities via digital, social and mobile solutions including monster.com®, our flagship website, and employers to the best talent using a vast array of products and services. As an Internet pioneer, more than 200 million people have registered on the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities globally. For more information visit about.monster.com.

ⁱ Source: Survey conducted in France by Monster and CXP between January 9 and 30, 2013. The 574 validated participants are, for a wide majority, part of HR Departments or Corporate General Management (81%) and 26% are Recruiting Managers.