Dolan Media Co., which owns weekly business newspapers across the country, reported second-quarter earnings Wednesday that were higher than expected.
The Minneapolis-based company reported net income of $4.92 million or 16 cents per share, compared to net income of $2.57 million or 14 cents per share a year ago. Cash earnings per share were 9 cents, down from 20 cents per share last year.
Five analysts polled by Thomson Reuters expected the company to report earnings of 2 cents per share. Analysts’ estimates typically exclude special items.
Total revenues declined to $63.76 million from $68.39 million in the prior-year quarter. Analysts expected revenues of $68.12 million.
Read the earnings release here. Dolan owns the Long Island Business News, Mississippi Business Journal, the Idaho Business Review and the Daily Journal of Commerce in Portland, Ore., among others.
