Journal Communications (JRN) 8-K Other events

Journal Communications, Inc.
Consolidated Statements of Earnings (unaudited)
(dollars in thousands, except for shares and per-share amounts)

	2003 Quarters
	First			Second			Third			Fourth			Total     (audited)
Operating revenue:
Publishing	$	74,555		$	79,907		$	78,153		$	84,361		$	316,976
Broadcasting		32,251			37,657			38,483			42,353			150,744
Telecommunications		36,658			37,461			36,976			38,443			149,538
Printing services		22,707			20,714			20,716			21,821			85,958
Other		23,699			23,652			24,770			22,952			95,073
Total operating revenue		189,870			199,391			199,098			209,930			798,289
Operating costs and expenses:
Publishing		38,324			39,337			38,496			40,645			156,802
Broadcasting		15,084			15,784			17,250			16,580			64,698
Telecommunications		20,141			20,948			21,353			22,280			84,722
Printing services		18,464			17,545			17,283			18,024			71,316
Other		19,857			19,304			20,354			18,739			78,254
Total operating costs and expenses		111,870			112,918			114,736			116,268			455,792
Selling and administrative expenses		56,783			59,995			52,840			59,470			229,088
Total operating costs and expenses
and selling and administrative
expenses		168,653			172,913			167,576			175,738			684,880
Operating earnings		21,217			26,478			31,522			34,192			113,409
Other income and expense:
Interest income and dividends		82			55			82			223			442
Interest expense, net		(535	)		(916	)		(360	)		(98	)		(1,909	)
Total other income and expense		(453	)		(861	)		(278	)		125			(1,467	)
Earnings before income taxes		20,764			25,617			31,244			34,317			111,942
Provision for income taxes		8,306			10,386			12,653			13,804			45,149
Net earnings	$	12,458		$	15,231		$	18,591		$	20,513		$	66,793
Weighted average number of shares:
Basic		77,747,211			77,747,211			77,747,211			81,232,227			78,644,722
Diluted		77,747,211			77,747,211			77,747,211			85,684,227			83,096,722
Earnings per share:
Basic:
Net earnings	$	0.16		$	0.20		$	0.24		$	0.25		$	0.84
Diluted:
Net earnings	$	0.16		$	0.20		$	0.24		$	0.24		$	0.80