The board of directors of Journal Communications Inc. amended Section 3.01 of Article III of the company’s Bylaws to decrease the number of directors of the company from nine to seven.

Journal Communications Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported total revenue of $94,696,000 against $82,266,000 for the same period in the last year. Operating earnings were $8,456,000 against $5,740,000 for the same period in the last year. Earnings from continuing operations before income taxes were $6,323,000 against $5,102,000 for the same period in the last year. Net earnings were $3,793,000 against $2,919,000 for the same period in the last year. Net earnings per basic and diluted Class A and B common stock were $0.08 against $0.05 for the same period in the last year. EBITDA was $14,332,000 against $11,461,000 for the same period in the last year. Adjusted EBITDA was $15,387,000 against $11,554,000 for the same period in the last year. First quarter results were driven by the acquisition of Nashville NewsChannel 5 - WTVF-TV in December 2012. First quarter capital expenditures were $2.5 million compared to $2.8 million. Cash from operating activities was $8.7 million compared to $8.3 million due to an increase in net earnings. In the second quarter of 2013, on a same-station basis excluding political advertising revenue, the company expects 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, the company anticipates revenue declines in the low-single digits as compared to the second quarter of 2012.

Journal Communications Inc., Q1 2013 Earnings Call, May 02, 2013