Pulitzer Inc. Presents at Mid-Year Media Review Conference
23 June 2004 - 10:30PM
PR Newswire (US)
Pulitzer Inc. Presents at Mid-Year Media Review Conference ST.
LOUIS, June 23 /PRNewswire-FirstCall/ -- Pulitzer Inc. (NYSE:PTZ)
will present at the Mid-Year Media Review Conference in New York
today. Pulitzer Inc. President and Chief Executive Officer Robert
C. Woodworth will lead the presentation, which is scheduled to
begin at 3 p.m. (EDT). Joining Mr. Woodworth in the presentation
will be Terrance C.Z. Egger, senior vice president of Pulitzer Inc.
responsible for Pulitzer's St. Louis operations; Mark G. Contreras,
senior vice president of Pulitzer Newspapers, Inc.; and Alan G.
Silverglat, senior vice president-finance and chief financial
officer of Pulitzer Inc. In remarks prepared for the conference,
Company executives confirm the Company's previous guidance of 2004
base earnings of at least $2.10 per fully diluted share. The
guidance includes the impact of Company's new direct mail product
in St. Louis, Local Values, which is expected to reduce base
earnings by approximately $0.05 a share during 2004, and labor
costs resulting from the Company's new contract with the St. Louis
Newspaper Guild. The Company reaffirms its previous guidance of
mid-single digit percentage increases for both total revenue and
advertising revenue in 2004. The Company continues to expect to
hold non-newsprint cost increases in 2004 to inflationary levels
for the year absent the impact of acquisitions and the investment
in Local Values. Pulitzer anticipates 2004 newsprint cost
percentage increases in the low-to-mid double digits. Capital
expenditures are expected to be between $10 million and $12 million
in 2004. A live webcast of the presentation will be available at
http://www.pulitzerinc.com/ or at
http://www.midyearmediareview.com/ . The presentation will remain
accessible through those Web sites for four weeks. Pulitzer Inc.,
through various subsidiaries and affiliated entities, is engaged in
newspaper publishing and related new media activities. The
Company's newspaper operations include two major metropolitan
dailies, the St. Louis Post-Dispatch and the Arizona Daily Star in
Tucson, Ariz., and, through its Pulitzer Newspapers, Inc. (PNI)
subsidiary, 12 other dailies and more than 65 weekly newspapers,
shoppers, and niche publications. The PNI dailies are The
Pantagraph, Bloomington, Ill.; The Daily Herald, Provo, Utah; the
Santa Maria Times, Santa Maria, Calif.; The Napa Valley Register,
Napa, Calif.; The World, Coos Bay, Ore.; The Sentinel, Hanford,
Calif.; the Arizona Daily Sun, Flagstaff, Ariz.; the Daily
Chronicle, DeKalb, Ill.; The Garden Island, Lihue, Hawaii; the
Daily Journal, Park Hills, Mo.; The Lompoc Record, Lompoc, Calif.;
and The Daily News, Rhinelander, Wisc. The Company's newspaper
operations also include the Suburban Journals of Greater St. Louis,
a group of 38 weekly papers and various niche publications. The
Company's new media and interactive initiatives include
STLtoday.com in St. Louis, azstarnet.com in Tucson, and Web sites
for all of its other dailies. Pulitzer Inc. is the successor to the
company originally founded by Joseph Pulitzer in St. Louis in 1878.
For more information, visit our Web site at
http://www.pulitzerinc.com/ . For more information, please contact
James V. Maloney, director of shareholder relations at Pulitzer
Inc., at (314) 340-8402. NOTES: Statements in this press release
concerning the Company's business outlook or future economic
performance, anticipated profitability, revenues, expenses or other
financial items, together with other statements that are not
historical facts, are "forward-looking statements" as that term is
defined under the Federal Securities Laws. Forward-looking
statements are subject to risks, uncertainties and other factors,
which could cause actual results to differ materially from those
stated in such statements. Such risks, uncertainties and other
factors include, but are not limited to, industry cyclicality, the
seasonal nature of the business, changes in pricing or other
actions by competitors or suppliers (including newsprint), outcome
of labor negotiations, capital or similar requirements, and general
economic conditions, any of which may impact advertising and
circulation revenues and various types of expenses, as well as
other risks detailed in the Company's filings with the Securities
and Exchange Commission. Although the Company believes that the
expectations reflected in "forward-looking statements" are
reasonable, it cannot guarantee future results, levels of activity,
performance or achievements. Accordingly, investors are cautioned
not to place undue reliance on any such "forward-looking
statements," and the Company disclaims any obligation to update the
information contained herein or to publicly announce the result of
any revisions to such "forward- looking statements" to reflect
future events or developments. The Company's calculation of "Base
Earnings" and "Base Earnings per Diluted Share," including guidance
contained herein for full-year 2004 base earnings per diluted
share, exclude gains and losses related to certain non- operating
investments that are not a strategic component of the Company's
capital structure or operating plans (principally, investments in
new media companies and partnerships making similar investments),
and employment termination inducements associated with positions
that will not be staffed. Gains or losses on the sale of marketable
securities reflect activity in a strategic component of the
Company's capital structure and are, therefore, included in the
determination of "Base Earnings," and "Base Earnings per Diluted
Share. The Company cannot currently determine full-year 2004
investment gains and losses, if any, related to certain
non-operating investments or future employment termination
inducements, if any. The Company's calculation of "Base Earnings"
and "Base Earnings per Diluted Share," including guidance contained
herein for full-year 2004 base earnings per diluted share, may not
be comparable to similarly titled measures reported by other
companies. "Base Earnings" and "Base Earnings per Diluted Share,"
as defined above, are not measures of performance under generally
accepted accounting principles ("GAAP") and should not be construed
as substitutes for consolidated net income and diluted earnings per
share as a measure of performance. However, management uses "Base
Earnings" and "Base Earnings per Diluted Share" for comparing the
Company's past, current, and future performance and believes that
they provide meaningful and comparable information to investors to
aid in their analysis of the Company's performance relative to
other periods and to its peers. DATASOURCE: Pulitzer Inc. CONTACT:
James V. Maloney, Director of Shareholder Relations, Pulitzer Inc.,
+1-314-340-8402 Web site: http://www.pulitzerinc.com/
http://www.midyearmediareview.com/
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