Exhibit 99.3
Journal Communications, Inc. | ||||||||||||||||||||
Calculation of Diluted Earnings Per Share - Class A and B (unaudited) | ||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
2010 Quarters | 2010 | |||||||||||||||||||
First | Second | Third | Fourth | Fiscal Year | ||||||||||||||||
Numerator for diluted earnings per share: | ||||||||||||||||||||
Dividends on class A and B common stock | $ | - | * | $ | - | * | $ | - | * | $ | - | * | $ | - | * | |||||
Dividends on class C common stock | 464 | 464 | 463 | 464 | 1,854 | |||||||||||||||
Dividends on non-vested restricted stock | - | - | - | - | - | |||||||||||||||
Total undistributed earnings from continuing operations | ||||||||||||||||||||
Class A and B | 4,428 | * | 6,892 | * | 5,416 | * | 9,901 | * | 26,634 | * | ||||||||||
Class C | 286 | 443 | 348 | 635 | 1,712 | |||||||||||||||
Non-vested restricted stock | 82 | 125 | 96 | 171 | 478 | |||||||||||||||
Gain (loss) from discontinued operations | - | |||||||||||||||||||
Class A and B | 40 | 162 | (26 | ) | 3,247 | 3,422 | ||||||||||||||
Class C | 3 | 10 | (2 | ) | 208 | 220 | ||||||||||||||
Non-vested restricted stock | - | 4 | - | 57 | 61 | |||||||||||||||
Net earnings | $ | 5,303 | $ | 8,100 | $ | 6,295 | $ | 14,683 | $ | 34,381 | ||||||||||
Denominator for diluted earnings per class A and B share: | ||||||||||||||||||||
Weighted average shares outstanding - Class A and B | 50,533 | 50,784 | 50,866 | 50,890 | 50,789 | |||||||||||||||
Impact of non-vested restricted shares | - | - | - | - | - | |||||||||||||||
Conversion of class C shares | - | - | - | - | - | |||||||||||||||
Adjusted weighted average shares outstanding for class A and B | 50,533 | * | 50,784 | * | 50,866 | * | 50,890 | * | 50,789 | * | ||||||||||
Diluted earnings per share of class A and B: | ||||||||||||||||||||
Continuing operations | $ | 0.09 | * | $ | 0.14 | * | $ | 0.11 | * | $ | 0.20 | * | $ | 0.52 | * | |||||
Discontinued operations | -- | -- | -- | 0.06 | 0.07 | |||||||||||||||
Net earnings | $ | 0.09 | $ | 0.14 | $ | 0.11 | $ | 0.26 | $ | 0.59 |
* Included in calculation of diluted earnings per share - class A and B