Pulitzer (NYSE:PTZ)
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Pulitzer Inc. Presents at Mid-Year Media Review Conference
ST. LOUIS, June 23 /PRNewswire-FirstCall/ -- Pulitzer Inc. (NYSE:PTZ) will
present at the Mid-Year Media Review Conference in New York today.
Pulitzer Inc. President and Chief Executive Officer Robert C. Woodworth will
lead the presentation, which is scheduled to begin at 3 p.m. (EDT). Joining Mr.
Woodworth in the presentation will be Terrance C.Z. Egger, senior vice
president of Pulitzer Inc. responsible for Pulitzer's St. Louis operations;
Mark G. Contreras, senior vice president of Pulitzer Newspapers, Inc.; and Alan
G. Silverglat, senior vice president-finance and chief financial officer of
Pulitzer Inc.
In remarks prepared for the conference, Company executives confirm the
Company's previous guidance of 2004 base earnings of at least $2.10 per fully
diluted share. The guidance includes the impact of Company's new direct mail
product in St. Louis, Local Values, which is expected to reduce base earnings
by approximately $0.05 a share during 2004, and labor costs resulting from the
Company's new contract with the St. Louis Newspaper Guild.
The Company reaffirms its previous guidance of mid-single digit percentage
increases for both total revenue and advertising revenue in 2004. The Company
continues to expect to hold non-newsprint cost increases in 2004 to
inflationary levels for the year absent the impact of acquisitions and the
investment in Local Values. Pulitzer anticipates 2004 newsprint cost percentage
increases in the low-to-mid double digits. Capital expenditures are expected to
be between $10 million and $12 million in 2004.
A live webcast of the presentation will be available at
http://www.pulitzerinc.com/ or at http://www.midyearmediareview.com/ . The
presentation will remain accessible through those Web sites for four weeks.
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 65
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, Wisc. The Company's newspaper operations also
include the Suburban Journals of Greater St. Louis, a group of 38 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 more information, visit our Web site at
http://www.pulitzerinc.com/ .
For more information, please contact James V. Maloney, director of shareholder
relations at Pulitzer Inc., at (314) 340-8402.
NOTES:
Statements in this press release concerning the Company's business outlook or
future economic performance, anticipated profitability, revenues, expenses or
other financial items, together with other statements that are not historical
facts, are "forward-looking statements" as that term is defined under the
Federal Securities Laws. Forward-looking statements are subject to risks,
uncertainties and other factors, which could cause actual results to differ
materially from those stated in such statements. Such risks, uncertainties and
other factors include, but are not limited to, industry cyclicality, the
seasonal nature of the business, changes in pricing or other actions by
competitors or suppliers (including newsprint), outcome of labor negotiations,
capital or similar requirements, and general economic conditions, any of which
may impact advertising and circulation revenues and various types of expenses,
as well as other risks detailed in the Company's filings with the Securities
and Exchange Commission. Although the Company believes that the expectations
reflected in "forward-looking statements" are reasonable, it cannot guarantee
future results, levels of activity, performance or achievements. Accordingly,
investors are cautioned not to place undue reliance on any such
"forward-looking statements," and the Company disclaims any obligation to
update the information contained herein or to publicly announce the result of
any revisions to such "forward- looking statements" to reflect future events or
developments.
The Company's calculation of "Base Earnings" and "Base Earnings per Diluted
Share," including guidance contained herein for full-year 2004 base earnings
per diluted share, exclude gains and losses related to certain non- operating
investments that are not a strategic component of the Company's capital
structure or operating plans (principally, investments in new media companies
and partnerships making similar investments), and employment termination
inducements associated with positions that will not be staffed. Gains or losses
on the sale of marketable securities reflect activity in a strategic component
of the Company's capital structure and are, therefore, included in the
determination of "Base Earnings," and "Base Earnings per Diluted Share. The
Company cannot currently determine full-year 2004 investment gains and losses,
if any, related to certain non-operating investments or future employment
termination inducements, if any. The Company's calculation of "Base Earnings"
and "Base Earnings per Diluted Share," including guidance contained herein for
full-year 2004 base earnings per diluted share, may not be comparable to
similarly titled measures reported by other companies. "Base Earnings" and
"Base Earnings per Diluted Share," as defined above, are not measures of
performance under generally accepted accounting principles ("GAAP") and should
not be construed as substitutes for consolidated net income and diluted
earnings per share as a measure of performance. However, management uses "Base
Earnings" and "Base Earnings per Diluted Share" for comparing the Company's
past, current, and future performance and believes that they provide meaningful
and comparable information to investors to aid in their analysis of the
Company's performance relative to other periods and to its peers.
DATASOURCE: Pulitzer Inc.
CONTACT: James V. Maloney, Director of Shareholder Relations, Pulitzer
Inc., +1-314-340-8402
Web site: http://www.pulitzerinc.com/
http://www.midyearmediareview.com/