Dolan Media Co., the Minneapolis-based owner of a number of business newspapers across the country, reported first-quarter revenue rose 20 percent and profits increased slightly.
The increase in revenue was due mainly to a demand for information from its legal services division.
Ben Mook of The Daily Record in Baltimore, one of its papers, writes, “Dolan Media has two divisions, business information and professional services. The business information division has nearly 60 publications of mainly business and legal newspapers in 21 markets. The professional services division provides specialized services to the legal profession through subsidiaries NDeX, Counsel Press and DiscoverReady.
“The company said that the professional services division accounted for nearly 73 percent of the total revenue, up from 66 percent the previous year. The professional services division’s revenue for the first quarter was $56 million, an increase of 33 percent from $42 million for the corresponding period in 2009.
“On the publishing side, revenue for the first quarter of 2010 was $21 million, down 4.3 percent from the prior year’s $21.9 million, largely a result of decreases in display and classified advertising revenues, which were down by $1.3 million.”
Read more here. Dolan Media owns the Long Island Business News, Mississippi Business Journal, the Colorado Springs Business Journal, the Idaho Business Review and the Daily Journal of Commerce in Portland, Ore., among others.
