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Profits Up at 2 Media Companies

April 09, 1992|From Times Staff and Wires

Dow Jones & Co. said Wednesday that its first-quarter profit climbed 58% from a year ago, while Media General Inc. said its profit was up 15.1%.

Both media companies cited improved earnings from their newspapers.

Dow Jones said its results reflected higher advertising volume at the Wall Street Journal, lower interest expense and improvement at its community newspapers and its electronic financial information service, Telerate Inc.

The New York-based company earned $28.4 million, or 28 cents a share, in the three months ended March 31, compared to $18 million, or 18 cents a share, a year ago.

Revenue rose 4.7% to $436.1 million from $416.6 million a year earlier. Operating income from business publications including Barron's magazine more than doubled to $24.6 million as revenue rose 8% to $186.6 million.

The company said ad linage at the Wall Street Journal rose 9.2% from the first quarter a year ago and was up 7.5% on a per-issue basis. There was one additional publishing day in the 1992 first quarter.

Operating income climbed 53% to $4.1 million at Ottaway Newspapers, the community newspaper chain, despite a 5.5% decline in ad linage.

Operating income was up 4.5% to $40.3 million at the information services segment, including Telerate, as revenue rose 2.2% to $196.3 million.

Dow Jones also publishes other periodicals and electronic business news and information services.

Richmond, Va.-based Media General earned $2.7 million, or 11 cents a share, in the three months ended March 29, compared to $2.4 million, or 9 cents a share, a year ago.

Revenue slipped 2.7% to $141.7 million from $145.6 million a year earlier.

The media company said its results reflected improved earnings from its daily newspapers, continued strength in its cable TV systems and cost controls.

Earnings, D12

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