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JRC Earnings Sag
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Business New Haven
10/29/2001
By: BNH
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TRENTON, N.J. - The Journal Register Co. (NYSE: JRC), parent company of the New Haven Register, posted lower third-quarter earnings on lower revenues as the September 11 attacks deepened the impact of already slowing advertising spending.
The company earned 17 cents per share for the quarter ended September 30, excluding gains on the sale of some properties and the reversal of tax accruals, compared with 23 cents in the year ago period.
On average, analysts were looking for earnings of 17 cents per share, according to tracking firm Thomson Financial/First Call. Including unusual items, net income for Journal Register totaled $8.9 million, or 21 cents per share. The company also said it anticipated fourth-quarter earnings per share in the range of current analysts' estimates of 23 cents to 26 cents.
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