OLD Media Moves

Dolan Media reports fourth-quarter profit

March 28, 2008

Dolan Media Co., which owns a number of weekly business newspapers, reported a fourth-quarter profit after posting a loss in the same quarter in 2006, according to a Thomson Financial story.

Dolan MediaThe story stated that Dolan Media “swung to fourth-quarter net income of $3.1 million, or 12 cents a share, from a net loss of $3.3 million, or 36 cents a share, in the same period a year earlier.

“The number of weighted average shares outstanding was 25.3 million for the latest quarter, compared with 9.3 million a year ago.

“The mean estimate of analysts polled by Thomson Financial was for earnings of 11 cents a share.

“Revenue for the period ended Dec. 31 rose 27% to $40.9 million from last year’s $32.2 million. Analysts had expected $39 million for the quarter.”

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.

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