Daily Journal Corporation Reports Results for its Fiscal First Quarter Ended December 31, 2011

February 14, 2012

Daily Journal Corporation (NasdaqCM: DJCO) reported revenues for its fiscal first quarter ended December 31, 2011 fell 14.8% to $7.92 million compared to revenues of $9.3 million during the first quarter of the prior fiscal year.  The primary reason for the decline was the result of a decrease of $1.03 million in revenue from trustee sale notices and related services.

Net income for the first quarter dropped 21.9% to $1.71 million or $1.24 per share versus net income of $2.18 million or $1.58 per share during the first quarter of fiscal 2011.

As of December 31, 2011, the balance sheet reflected cash, US Treasury bills and marketable securities of $79.32 million, current assets of $86.19 million, total assets of $97.77 million, current liabilities of $22.33 million and total liabilities of $27.26 million.  Shareholders’ equity increased 8.7% to $70.5 million during the first quarter of fiscal 2012.

Daily Journal Corporation publishes newspapers and web sites covering California and Arizona, as well as the California Lawyer magazine, and produces several specialized information services. The company also serves as a newspaper representative specializing in public notice advertising. Through Sustain Technologies, Inc., a wholly-owned subsidiary, the company supplies case management software systems and related products to courts and other justice agencies, including administrative law organizations.

Source: Daily Journal Corporation


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