Pulitzer Inc. Reports Sixth-Period Revenue for Four Weeks Ended
June 27, 2004 ST. LOUIS, July 20 /PRNewswire-FirstCall/ -- Pulitzer
Inc. (NYSE:PTZ) today announced that revenue increased 6.6 percent
for the four-week accounting period ended June 27, 2004 and
increased 5.1 percent for the twenty-six-week year-to-date period
when compared to the respective 2003 periods. June 2004 advertising
revenue in St. Louis and at the 12 Pulitzer Newspapers, Inc.
("PNI") markets increased 8.1 percent, with increases of 6.2
percent at the St. Louis operations and 13.2 percent at PNI. On a
comparable basis, excluding the results of PNI acquisitions absent
in the comparable periods of 2003, total revenue increased 5.7
percent for the four-week period ended June 27, 2004 and increased
4.2 percent for the twenty-six-week year-to-date period. Total
comparable advertising revenue increased 7.1 percent for the
four-week period ended June 27, 2004 and increased 5.0 percent for
the twenty- six-week year-to-date period. Sixth period 2004
comparable advertising revenue increased 6.2 percent at the St.
Louis operations and 9.5 percent at PNI. Comparable advertising
revenue increased 3.6 percent at the St. Louis operations and 8.9
percent at PNI for the twenty-six-week year-to-date period. The
principal components of the sixth-period comparable advertising
revenue results for St. Louis and PNI were: -- Comparable retail
advertising revenue, including preprints, increased 6.9 percent.
Comparable retail ROP revenue increased 4.3 percent, principally
due to gains in the grocery segment, as well as gains in local
territory revenue, which increased 16.5 percent in St. Louis. These
gains were offset by weakness in the department store,
entertainment, home improvement, and furniture categories.
Comparable retail ROP revenue increased 3.3 percent in St. Louis
and increased 6.2 percent at PNI. Comparable retail preprint
revenue increased 16.3 percent in St. Louis and 5.2 percent at PNI.
-- Comparable sixth period national advertising revenue, including
preprints, increased 4.0 percent versus 2003, principally due to
strong schedules from IBM and Boeing and strength in the telecom
segment, partially offset by weakness in the pharmaceutical and
packaged goods categories. Comparable national preprint revenue
increased 33.9 percent for the period and comparable national ROP
revenue decreased 0.2 percent. Comparable national advertising
revenue, including preprints, increased 2.7 percent in St. Louis
and 29.8 percent at PNI. -- Comparable classified revenue increased
8.2 percent, with growth in all major categories. Comparable
Classified Advertising Revenue Percentage Change 2004 Versus 2003
Total Pulitzer, including Tucson Tucson Total Newspaper Newspaper
PERIOD 6 St. Louis PNI Pulitzer Agency Agency Help Wanted 12.8%
32.5% 17.4% 33.1% 19.3% Automotive 5.7% 0.9% 4.7% 0.9% 4.2% Real
Estate 4.4% 18.4% 8.4% 0.5% 7.8% Total Classified Revenue 6.0%
14.5% 8.2% 12.0% 8.6% Comparable Classified Advertising Revenue
Percentage Change 2004 Versus 2003 Total Pulitzer, including Tucson
Tucson Total Newspaper Newspaper Year-to-date St. Louis PNI
Pulitzer Agency Agency Help Wanted 8.5% 32.1% 13.5% 40.6% 16.7%
Automotive 8.5% 5.0% 7.7% 3.6% 7.2% Real Estate 8.5% 18.3% 11.2%
(4.6%) 9.8% Total Classified Revenue 7.9% 16.2% 10.0% 13.4% 10.3%
June 2004 revenue associated with the Company's 50 percent interest
in the Tucson Newspaper Agency ("TNI") increased 5.2 percent and
total advertising revenue increased 8.3 percent. TNI retail
revenue, including preprints, increased 6.1 percent with a 4.2
percent increase in retail ROP and an 11.5 percent increase in
retail preprint revenue. Local territory revenues increased 15.8
percent for the period. TNI national revenue, including preprints,
increased 5.5 percent. June classified revenue increased 12.0
percent. 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 further information, visit our Web site at
http://www.pulitzerinc.com/. 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. PULITZER INC. AND SUBSIDIARIES
PERIOD REVENUE AND STATISTICAL REPORT (Revenue in
thousands--Unaudited) Four Four 26 26 Weeks Weeks Weeks Weeks Ended
Ended Ended Ended June 27, June 29, June 27, June 29, 2004 2003
Change 2004 2003 Change (Note 3) (Note 3) Consolidated Operating
Revenue (Note 1): Advertising: Retail $ 9,385 $ 8,892 5.5% $ 58,825
$ 56,537 4.0% National 2,506 2,511 (0.2%) 13,101 14,357 (8.7%)
Classified 10,995 10,036 9.6% 67,757 60,852 11.3% Total 22,886
21,439 6.7% 139,683 131,746 6.0% Preprints 5,115 4,457 14.8% 31,384
29,535 6.3% Total Advertising 28,001 25,896 8.1% 171,067 161,281
6.1% Circulation 6,194 6,210 (0.3%) 41,032 40,493 1.3% Other 587
508 15.6% 3,689 3,570 3.3% Total $34,782 $32,614 6.6% $215,788
$205,344 5.1% Operating Revenue of Consolidated Subsidiaries: St.
Louis Operations (Note 2): Advertising $19,948 $18,784 6.2%
$121,593 $117,384 3.6% Circulation 4,632 4,596 0.8% 30,640 30,054
1.9% Other 224 90 148.9% 1,038 803 29.3% Total $24,804 $23,470 5.7%
$153,271 $148,241 3.4% Pulitzer Newspapers, Inc. Advertising $
8,053 $ 7,112 13.2% $ 49,474 $ 43,897 12.7% Circulation 1,562 1,614
(3.2%) 10,392 10,439 (0.5%) Other 363 418 (13.2%) 2,651 2,767
(4.2%) Total $ 9,978 $ 9,144 9.1% $ 62,517 $ 57,103 9.5% Operating
Revenue of Unconsolidated Newspaper Joint Venture: Pulitzer's 50%
share of Tucson Newspaper Agency: Advertising $ 3,348 $ 3,092 8.3%
$ 21,362 $ 20,805 2.7% Circulation 822 849 (3.2%) 5,821 5,874
(0.9%) Other 22 42 (47.6%) 207 253 (18.2%) Total $ 4,192 $ 3,983
5.2% $ 27,390 $ 26,932 1.7% Note 1 Year-to-year comparisons are
affected by acquisitions of weekly newspapers within the last 12
months that complement the Company's newspapers in several markets.
On a comparable basis, excluding the impact of the acquisitions for
comparable ownership periods in each year, advertising and total
revenues would have increased as follows: Four Weeks 26 Weeks
Comparable Change Comparable Change Total Total Pulitzer PNI
Pulitzer PNI Advertising Revenue 7.1% 9.5% 5.0% 8.9% Total Revenue
5.7% 5.8% 4.2% 6.3% Note 2 Includes revenues of the St. Louis
Post-Dispatch, Suburban Journals of Greater St. Louis, St. Louis
e-media operations, and STL Distribution Services. Note 3 Certain
reclassifications have been made to the 2003 financial statements
and statistical data to conform with the presentation made in 2004.
PULITZER INC. AND SUBSIDIARIES PERIOD REVENUE AND STATISTICAL
REPORT SELECTED STATISTICAL INFORMATION Four Four 26 26 Weeks Weeks
Weeks Weeks Ended Ended Ended Ended June 27, June 29, June 27, June
29, 2004 2003 Change 2004 2003 Change (Note 3) (Note 3) Advertising
Linage (in thousands of inches) ST. LOUIS POST-DISPATCH:
Advertising Inches Full run (all zones) Retail 52.1 56.5 (7.7%)
345.2 357.7 (3.5%) National 15.5 17.8 (12.6%) 88.1 99.2 (11.2%)
Classified 79.4 82.2 (3.4%) 488.0 505.6 (3.5%) Total 147.1 156.5
(6.0%) 921.3 962.5 (4.3%) Part run (Retail/ Classified) 41.5 37.1
11.7% 277.2 238.7 16.1% Total Inches 188.6 193.6 (2.6%) 1,198.4
1,201.2 (0.2%) TUCSON NEWSPAPER AGENCY: Star/Citizen advertising
inches Full run (all zones) Retail 108.3 108.5 (0.2%) 724.7 758.3
(4.4%) National 6.7 9.6 (30.7%) 39.2 47.7 (17.8%) Classified 131.5
124.5 5.6% 825.1 777.0 6.2% Total 246.5 242.6 1.6% 1,589.0 1,583.0
0.4% Part run (Retail/ Classified) 3.6 5.4 (33.4%) 24.0 36.3
(33.9%) Total Inches 250.1 248.0 0.8% 1,613.0 1,619.3 (0.4%)
Circulation (Note 4): Year-to-Date Period Average Average 2004 2003
Change 2004 2003 Change ST. LOUIS POST-DISPATCH: Daily 282,603
282,914 (0.1%) 282,059 287,229 (1.8%) Sunday 450,763 462,458 (2.5%)
453,579 466,343 (2.7%) COMBINED PULITZER NEWSPAPERS, INC.: Daily
185,094 184,731 0.2% 191,478 192,066 (0.3%) Sunday 187,484 188,893
(0.7%) 188,568 190,578 (1.1%) TUCSON NEWSPAPER AGENCY: Star Daily
95,167 95,704 (0.6%) 107,943 106,147 1.7% Citizen Daily 28,999
32,234 (10.0%) 31,795 34,727 (8.4%) Combined Daily 124,166 127,938
(2.9%) 139,738 140,874 (0.8%) Star Sunday 158,379 159,590 (0.8%)
172,108 174,122 (1.2%) Online Page Views (in thousands) Four Four
26 26 Weeks Weeks Weeks Weeks Ended Ended Ended Ended June 27, June
29, June 27, June 29, 2004 2003 Change 2004 2003 (Note 3) (Note 3)
Change St. Louis 26,054 16,766 55.4% 186,297 116,716 59.6% Combined
PNI Web sites 8,809 7,578 16.2% 53,003 43,406 22.1% Combined Tucson
Web sites 6,266 7,746 (19.1%) 38,900 39,562 (1.7%) Totals 41,129
32,090 28.2% 278,200 199,684 39.3% Note 4 Year-to-date circulation
levels represent averages (unaudited) for the current ABC annual
audit periods ending September 30 and December 31 for the St. Louis
Post-Dispatch and Tucson Newspaper Agency, respectively.
Year-to-date PNI amounts represent combined averages (unaudited)
for the annual periods ending December 31. DATASOURCE: Pulitzer
Inc. CONTACT: James V. Maloney, Director of Shareholder Relations,
Pulitzer Inc., +1-314-340-8402 Web site:
http://www.pulitzerinc.com/
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