Today, Journal Media Group, Inc. (NYSE:JMG), declared results for its second quarter ended June 30, 2015, and the declaration of a cash dividend of $0.06 per share, payable on September 4, 2015, to shareholders of record as of the close of business on August 24, 2015. The Company also declared that its Board of Directors has authorized a share repurchase program of up to $25 million of its outstanding Common Stock over the next 36 months.
The second quarter results reflect the operations of the newly combined Journal Media Group, with the Journal Communications, Inc.’s newspaper business (“Journal”) presented using the acquisition method effective April 1, 2015. First quarter and preceding-year stated GAAP financials in the attached tables and in the Form 10-Q, which will be filed later recently, have been prepared on a “carve-out” basis derived from the financial statements of The E. W. Scripps Company (“Scripps”). The Journal newspaper business is reflected only in the second quarter results and year-to date results from April 1, 2015 to June 30, 2015.
Journal Media Group, Inc. operates as a media company with print and digital publishing activities in the United States. It publishes daily newspapers and associated digital products, and community newspapers that inform, engage, and empower readers and advertisers.
Another company, China Housing and Land Development, Inc. (NASDAQ:CHLN), declared its financial results for the quarter ended June 30, 2015.
Highlights for Q2 2015:
- Total revenue in the second quarter of 2015 was $36.2 million contrast to $23.8 million in the first quarter of 2015 and $44.1 million in the second quarter of 2014.
- Total gross floor area (“GFA”) sales were 35,939 sq. meters during the second quarter of 2015, contrast with 26,771 sq. meters in the first quarter of 2015 and 30,408 sq. meters in the second quarter of 2014.
- Average residential selling price (“ASP”) in the second quarter of 2015 was RMB6,061 contrast with RMB5,747 in the first quarter of 2015, and RMB6,493 in the second quarter of 2014.
- Gross profit was $4.7 million in the second quarter of 2015 contrast to $3.9 million in the first quarter of 2015 and $(816,509) in the second quarter of 2014. Gross margin in the second quarter 2015 was 12.9%, contrast with 16.2% in the first quarter of 2015 and (1.9)% in the second quarter of 2014.
- SG&A expenses as a percentage of total revenue was 10.0%, contrast to 13.6% in the first quarter of 2015 and 8.8% in the second quarter of 2014.
- Operating income was $128,519 in the second quarter of 2015 contrast to an operating loss of $464 thousand in the first quarter of 2015, and operating loss of $6.6 million in the second quarter of 2014.
- Net loss attributable to the Company in the second quarter of 2015 was $19.0 million, or $(2.73) per diluted share, contrast to net loss of $479 thousand, or $(0.01) per diluted share, in the first quarter of 2015 and $6.8 million, or $(0.98) per diluted share, in the second quarter of 2014.
China Housing & Land Development, Inc., a real estate development company, acquires, develops, manages, and sells commercial and residential real estate properties primarily in Xian, the People’s Republic of China.
Finally, Blonder Tongue Laboratories Inc. (NYSEMKT:BDR), declared its sales and results for the second quarter and six months ended June 30, 2015.
Net sales reduced $3,545,000 or 40.2% to $5,283,000 for the second quarter of 2015 from $8,828,000 for the comparable period in 2014. Net income (loss) for the three months ended June 30, 2015 was $(1,262,000) or $(0.20) per share in 2015, contrast to $347,000 or $0.06 per share for the comparable period in 2014.
The decrease in sales is primarily attributed to a decrease in sales of digital video headend products and analog video headend products offset by an enhance in contract manufactured products. Sales of digital video headend products were $2,396,000 and $5,122,000, analog video headend products were $873,000 and $1,990,000 and contract manufactured products were $526,000 and $134,000 in the second three months of 2015 and 2014, respectively.
For the six month period ended June 30, net sales reduced $4,381,000, or 30.4%, to $10,025,000 in 2015 from $14,406,000 in 2014. Net loss for the six months ended June 30, 2015 was $(2,677,000) or $(0.43) per share, contrast to $(814,000) or $(0.13) per share for the comparable period in 2014.
The decrease in sales is primarily attributed to a decrease in sales of digital video headend products and analog video headend products, offset by an enhance in contract manufactured products. Sales of digital video headend products were $4,505,000 and $7,526,000, analog video headend products were $1,913,000 and $3,661,000 and contract manufactured products were $697,000 and $214,000 in the first six months of 2015 and 2014, respectively.
Blonder Tongue Laboratories, Inc. operates as a technology-development and manufacturing company in the United States. It delivers television signal encoding, transcoding, digital transport, and broadband product solutions for a range of applications.
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