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Dow Jones Reports Sharp Rise In Profit; Ad Sales IncreaseDow Jones & Company reported sharply higher fourth-quarter earnings yesterday on special gains from the sale of several newspapers, an acquisition and stronger advertising sales at The Wall Street Journal. The company, whose divisions include Barron’s magazine and Dow Jones Newswires, earned $192.9 million, or $2.30 a share, for the fourth quarter, up from $41.2 million, or 49 cents a share, in the period a year ago. Revenue rose 6.1 percent, to $485.4 million, partly because of the acquisition of the half of the Factiva news database business that the company did not already own. Excluding a one-time gain from the sale of six local newspapers and another investment, a tax gain and a revamping charge, Dow Jones earned $39.9 million, or 47 cents a share, in the quarter, up from $34.4 million, or 41 cents a share, in the year-ago period. Analysts surveyed by Thomson Financial had expected earnings of 43 cents a share. Dow Jones’s shares rose 35 cents, or 1 percent, to $38.92. Advertising revenue at The Journal’s print edition rose 5.1 percent despite a 1.4 percent decline in linage, as the paper was able to secure higher advertising payments. Paid subscribers to The Journal’s Web site rose 5.6 percent, to 811,000. For 2007, Dow Jones said it expected total revenue growth of 3 percent to 5 percent, excluding the effect of adding the Factiva stake. On a net basis, revenue is expected to grow 18 percent to 20 percent. For the full year, Dow Jones reported net income of $388.6 million, or $4.64 a share, versus $60.4 million, or 73 cents a share, a year earlier. Excluding one-time items, full-year earnings rose 13 percent, to $92.6 million, from $81.8 million. Annual revenue rose 6.6 percent, to $1.78 billion. Tag CloudExternal InformationAdditional InformationWith Software and an iBand, There’s No Need for Roadies...Buffett Is Named as a Witness in the Fraud Trial of 5 Insurance Executives... Carlyle Group in Talks to Acquire Virgin Media... World Business Briefing: Brazil: Embraer’s Profit Slides... Where Am I?News Main Page - Business - Dow Jones Reports Sharp Rise In Profit; Ad Sales Increase |
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