From The Associated Press
 

Newspaper publisher Journal Register Co. reported higher third-quarter earnings Oct. 16, crediting increased advertising revenues.

The Trenton-based publisher had net income of $31.9 million, or 76 cents a share, for the three months ended Sept. 29. A year earlier, income was $11.9 million, or 28 cents a share.

Without the effect of one-time items such as an accounting gain, earnings were 28 cents a share for the quarter, matching analysts' expectations and up from 26 cents in the same period in 2002.

Journal Register Chairman and CEO Robert M. Jelenic said in a statement that the results reflect "growth in overall advertising revenues driven by strong classified advertising revenues, as well as continued attention to strict cost controls and favorable interest rates."

Revenues edged up to $100.8 million from $100.5 million. That included $73.5 million from advertising, up 0.9% from a year earlier.

Among properties the company has had for at least a year, retail advertising revenues declined 1.5% for the quarter, but classified revenues increased 3.7%. National advertising, which accounts for about 5% of total advertising revenues, fell 7.7% in the third quarter.

For the first nine months of 2003, net income was $55.6 million, or $1.34 a share, compared with $35 million, or 83 cents a share, in 2002. Adjusted for special items, profits were 85 cents a share, up from 80 cents.

Journal Register publishes 23 daily newspapers in New England, upstate New York and the Cleveland and Philadelphia areas. The biggest paper is the New Haven (Conn.) Register. It also produces 235 other publications.

Journal Register shares fell 30 cents, or 1.5%, to $19.72 in midday trading on the New York Stock Exchange.