Network Communications Reports First Quarter Revenue Up
Lawrenceville, Georgia-based Network Communications reported Thursday first quarter revenues of $47.7 million, an increase of 19.5 percent over revenues for the same period last year. For the period ended June 18, the company’s operating profit was $4.5 million, compared to $3 million in the first quarter of 2005, an increase of 49.8 percent. EBITDA for the quarter was also up, $11.5 million compared to $9.2 million a year earlier, an increase of $2.3 million or 24.9 percent.
The company attributed the increases in revenue and profit to ad page volume growth in The Real Estate Book, as well as the opening of new TREB markets and the contribution of two acquisitions, one of which was made in last fiscal year, the other was made this year. Also, the company said its rental and leasing product area revenue increased by $740,000 or 6.1 percent in the first quarter due to growth in ad pages in Apartment Finder and Mature Living Choices. The company said it did experience a decline of $130,000 in year-over-year revenue for Black’s Guide.
Network Communications publications also include New Home Finder, Enclave, Unique Homes, Kansas City Homes & Gardens, Atlanta Homes & Lifestyles, Atlanta Home Improvement, At Home In Arkansas, Relocating In Las Vegas, Colorado Homes & Lifestyles, St.Louis Homes & Lifestyles, Seattle Homes & Lifestyles, and Mountain Living. The company records its financials on a March fiscal year. Online magazine content can be accessed at www.livingchoices.com.