PTZ Pulitzer

Pulitzer Inc. Reports Fourth-Period Revenue for Five Weeks Ended May 1, 2005 ST. LOUIS, May 17 /PRNewswire-FirstCall/ -- Pulitzer Inc. (NYSE:PTZ) today announced that revenue increased 1.2 percent for the five-week accounting period ended May 1, 2005, and 2.7 percent for the eighteen-week year-to-date period when compared to the respective 2004 periods. April 2005 advertising revenue in St. Louis and at the 12 Pulitzer Newspapers, Inc. ("PNI") markets increased 2.1 percent. Advertising revenue was unchanged at the St. Louis operations and increased 7.0 percent at PNI. On a comparable basis, excluding the results of PNI acquisitions absent in the comparable periods of 2004, total revenue increased 0.7 percent for the five-week period ended May 1, 2005, and increased 2.2 percent for the eighteen-week year-to-date period. Comparable advertising revenue increased 1.5 percent for the five-week period ended May 1, 2005, and increased 3.5 percent for the eighteen-week year-to-date period. Fourth-period 2005 comparable advertising revenue was flat at the St. Louis operations and increased 5.1 percent at PNI. Comparable advertising revenue increased 1.8 percent at the St. Louis operations and 7.8 percent at PNI for the eighteen- week year-to-date period. The principal components of the fourth-period comparable advertising revenue results for St. Louis and PNI were: -- Comparable retail advertising revenue, including preprints, decreased 2.4 percent. Comparable retail ROP revenue decreased 3.3 percent, principally due to weakness in the department store and financial categories. St. Louis local territory revenues increased 0.5 percent. Comparable retail ROP revenue decreased 5.2 percent in St. Louis and increased 0.2 percent at PNI. Comparable retail preprint revenue decreased 0.3 percent in St. Louis and decreased 1.2 percent at PNI. -- Comparable fourth-period national advertising revenue, including preprints, increased 10.4 percent versus the respective 2004 period. This increase was principally due to strength in the financial and national automotive and technology categories, partially offset by weakness in the entertainment, telecommunication and pharmaceutical categories. Comparable national preprint revenue increased 30.4 percent for the period and comparable national ROP revenue increased 5.5 percent. Comparable national advertising revenue, including preprints, increased 12.0 percent in St. Louis and decreased 8.2 percent at PNI. -- Comparable fourth-period classified revenue increased 4.9 percent versus the respective 2004 period. Comparable Classified Advertising Revenue Percentage Change 2005 Versus 2004 Total Pulitzer, including Tucson Tucson Period 4 Total Newspaper Newspaper St. Louis PNI Pulitzer Agency Agency Help Wanted 3.7% 34.0% 11.8% 12.5% 11.9% Automotive (5.8%) (6.0%) (5.8%) 2.5% (4.9%) Real Estate 9.4% 11.4% 10.0% (9.3%) 8.5% Total Classified Revenue 1.2% 14.6% 4.9% 6.2% 5.1% Comparable Classified Advertising Revenue Percentage Change 2005 Versus 2004 Total Pulitzer, including Tucson Tucson Year-To-Date Total Newspaper Newspaper St. Louis PNI Pulitzer Agency Agency Help Wanted 4.5% 34.1% 11.8% 19.3% 12.9% Automotive (5.4%) (6.9%) (5.8%) 3.7% (4.7%) Real Estate (2.8%) 13.8% 2.4% (8.6%) 1.5% Total Classified Revenue (0.9%) 14.3% 3.3% 8.5% 3.8% April 2005 revenue associated with the Company's 50 percent interest in the Tucson Newspaper Agency ("TNI") increased 4.1 percent and total advertising revenue increased 4.5 percent. TNI retail revenue, including preprints, increased 3.9 percent, with an 8.0 percent increase in retail ROP and a 4.6 percent decrease in retail preprint revenue. Local territory revenues increased 3.0 percent for the period. TNI national revenue, including preprints, decreased 3.8 percent. April classified revenue increased 6.2 percent at TNI. Easter occurred in March of 2005 and April of 2004. Generally an increase in retail advertising and a decrease in classified advertising is associated with the Easter holiday. Pulitzer Inc., through various subsidiaries and affiliated entities, is engaged in newspaper publishing and related new media activities. The Company's newspaper operations include two major metropolitan dailies, the St. Louis Post-Dispatch and the Arizona Daily Star in Tucson, Ariz., and, through its Pulitzer Newspapers, Inc. ("PNI") subsidiary, 12 other dailies and more than 75 weekly newspapers, shoppers, and niche publications. The PNI dailies are The Pantagraph, Bloomington, Ill.; The Daily Herald, Provo, Utah; the Santa Maria Times, Santa Maria, Calif.; The Napa Valley Register, Napa, Calif.; The World, Coos Bay, Ore.; The Sentinel, Hanford, Calif.; the Arizona Daily Sun, Flagstaff, Ariz.; The Daily Chronicle, DeKalb, Ill.; The Garden Island, Lihue, Hawaii; the Daily Journal, Park Hills, Mo.; The Lompoc Record, Lompoc, Calif.; and The Daily News, Rhinelander, Wis. The Company's newspaper operations also include the Suburban Journals of Greater St. Louis, a group of 36 weekly papers and various niche publications. The Company's new media and interactive initiatives include STLtoday.com in St. Louis, azstarnet.com in Tucson, and Web sites for all of its other dailies. Pulitzer Inc. is the successor to the company originally founded by Joseph Pulitzer in St. Louis in 1878. For further information, visit our Web site at http://www.pulitzerinc.com/ . NOTES: This press release contains forward-looking statements based on current management expectations. Numerous factors may cause events to differ materially from those anticipated in the forward-looking statements including regulatory and other factors. Many of the factors that will determine those events are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual events may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management's view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. PULITZER INC. AND SUBSIDIARIES PERIOD REVENUE AND STATISTICAL REPORT (Revenue in thousands--Unaudited) Five Five Eighteen Eighteen Weeks Weeks Weeks Weeks Ended Ended Ended Ended May 1, May 2, May 1, May 2, 2005 2004 Change 2005 2004 Change (Note 3) (Note 3) Consolidated Operating Revenue (Note 1): Advertising: Retail $11,800 $12,130 (2.7%) $ 39,637 $ 39,959 (0.8%) National 2,417 2,291 5.5% 8,626 8,452 2.1% Classified 14,071 13,308 5.7% 47,408 45,555 4.1% Total 28,288 27,729 2.0% 95,671 93,966 1.8% Preprints 7,086 6,932 2.2% 24,180 21,150 14.3% Total Advertising 35,374 34,661 2.1% 119,851 115,116 4.1% Circulation 7,823 7,941 (1.5%) 27,739 28,509 (2.7%) Other 705 797 (11.5%) 2,454 2,509 (2.2%) Total $43,902 $43,399 1.2% $150,044 $146,134 2.7% Operating Revenue of Consolidated Subsidiaries: St. Louis Operations (Note 2): Advertising $24,572 $24,565 0.0% $ 83,598 $ 82,110 1.8% Circulation 5,830 5,929 (1.7%) 20,651 21,317 (3.1%) Other 181 265 (31.7%) 593 714 (16.9%) Total $30,583 $30,759 (0.6%) $104,842 $104,141 0.7% Pulitzer Newspapers, Inc. Advertising $10,802 $10,096 7.0% $ 36,253 $ 33,006 9.8% Circulation 1,993 2,012 (0.9%) 7,088 7,192 (1.4%) Other 524 532 (1.5%) 1,861 1,795 3.7% Total $13,319 $12,640 5.4% $ 45,202 $ 41,993 7.6% Operating Revenue of Unconsolidated Newspaper Joint Venture: Pulitzer's 50% share of Tucson Newspaper Agency: Advertising $ 4,445 $ 4,253 4.5% $ 15,645 $ 14,631 6.9% Circulation 1,121 1,123 (0.2%) 4,095 4,151 (1.3%) Other 55 23 139.1% 217 140 55.0% Total $ 5,621 $ 5,399 4.1% $ 19,957 $ 18,922 5.5% Note 1 Year-to-year comparisons are affected by acquisitions of weekly newspapers, shoppers, and niche publications within the last 12 months that complement the Company's newspapers in several markets. On a comparable basis, excluding the impact of the acquisitions for comparable ownership periods in each year, advertising and total revenues would have increased as follows: Five Weeks Eighteen Weeks Comparable Change Comparable Change Total Total Pulitzer PNI Pulitzer PNI Advertising Revenue 1.5% 5.1% 3.5% 7.8% Total Revenue 0.7% 3.8% 2.2% 5.9% Note 2 Includes revenues of the St. Louis Post-Dispatch, Suburban Journals of Greater St. Louis, St. Louis e-media operations, and STL Distribution Services. Note 3 Certain reclassifications have been made to the 2004 financial statements and statistical data to conform with the presentation made in 2005. PULITZER INC. AND SUBSIDIARIES PERIOD REVENUE AND STATISTICAL REPORT SELECTED STATISTICAL INFORMATION Five Five Eighteen Eighteen Weeks Weeks Weeks Weeks Ended Ended Ended Ended May 1, May 2, May 1, May 2, 2005 2004 Change 2005 2004 Change (Note 3) (Note 3) Advertising Linage (in thousands of inches): ST. LOUIS POST-DISPATCH: Advertising Inches Full run (all zones) Retail 64.5 74.0 (12.8%) 209.8 246.4 (14.9%) National 15.3 15.5 (1.3%) 55.5 57.5 (3.5%) Classified 92.3 97.3 (5.1%) 316.3 327.1 (3.3%) Total 172.1 186.8 (7.9%) 581.6 631.0 (7.8%) Part run (Retail/ Classified) 35.9 53.9 (33.4%) 129.7 184.3 (29.6%) Total Inches 208.0 240.7 (13.6%) 711.3 815.3 (12.8%) TUCSON NEWSPAPER AGENCY: Star/Citizen advertising inches Full run (all zones) Retail 141.1 140.4 0.5% 495.5 503.4 (1.6%) National 6.9 6.3 9.5% 29.6 27.9 6.1% Classified 151.9 166.4 (8.7%) 527.2 560.2 (5.9%) Total 299.9 313.1 (4.2%) 1,052.3 1,091.5 (3.6%) Part run (Retail/ Classified) 3.1 1.9 63.2% 9.2 7.2 27.8% Total Inches 303.3 315.0 (3.8%) 1,061.5 1,098.7 (3.4%) Circulation (Note 4): Five Five Eighteen Eighteen Weeks Weeks Weeks Weeks Ended Ended Ended Ended May 1, May 2, May 1, May 2, 2005 2004 Change 2005 2004 Change ST. LOUIS POST-DISPATCH: Daily 283,745 279,985 1.3% 284,705 281,119 1.3% Sunday 443,217 445,179 (0.4%) 445,283 453,688 (1.9%) COMBINED PULITZER NEWSPAPERS, INC.: Daily 193,098 194,533 (0.7%) 192,319 192,393 (0.0%) Sunday 190,543 189,627 0.5% 188,287 188,801 (0.3%) TUCSON NEWSPAPER AGENCY: Star Daily 114,259 109,980 3.9% 114,989 112,519 2.2% Citizen Daily 30,864 32,274 (4.4%) 30,953 32,900 (5.9%) Combined Daily 145,123 142,254 2.0% 145,942 145,419 0.4% Star Sunday 173,352 171,478 1.1% 177,590 177,927 (0.2%) Online Page Views (in thousands): Five Five Eighteen Eighteen Weeks Weeks Weeks Weeks Ended Ended Ended Ended May 1, May 2, May 1, May 2, 2005 2004 Change 2005 2004 Change (Note 3) (Note 3) St. Louis 45,679 38,003 20.2% 157,337 133,717 17.7% Combined PNI Web sites 10,741 9,031 18.9% 41,935 35,282 18.9% Combined Tucson Web sites 11,074 6,435 72.1% 38,974 26,775 45.6% Totals 67,494 53,469 26.2% 238,246 195,774 21.7% Note 4 Year-to-date circulation levels represent averages (unaudited) for the current ABC annual audit periods ending September 30 and December 31 for the St. Louis Post-Dispatch and Tucson Newspaper Agency, respectively. Year-to-date PNI amounts represent combined averages (unaudited) for the annual periods ending December 31. DATASOURCE: Pulitzer Inc. CONTACT: James V. Maloney, Director of Shareholder Relations, of Pulitzer Inc., +1-314-340-8402

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