Daily Journal Corp - DJCO STOCK NEWS

Daily Journal Corporation (NASDAQ: DJCO) reported consolidated revenues of $22,245,000 for the six months ending March 31, 2022, down from $24,390,000 in the previous year, primarily due to declines in Journal Technologies’ fees. The Traditional Business saw a pretax income rise to $2,592,000, while Journal Technologies faced a pretax loss of $2,163,000. The company realized net gains of $14,249,000 from marketable securities sales, though it reported a consolidated net loss of $20,935,000 (-$15.16 per share) compared to income of $71,746,000 last year.

Daily Journal Corporation has appointed Steven Myhill-Jones as its new Chairman and Interim Chief Executive Officer, succeeding Gerald Salzman, who is retiring after 44 years. Myhill-Jones is a seasoned technology executive known for founding Latitude Geographics. The company also announced several internal promotions, including Tu To as Chief Financial Officer and Danny Hemnani as CEO of Journal Technologies. Additionally, Charles Munger is gifting $1 million in stock to support a new equity incentive plan, reflecting confidence in the leadership team.

During Q4 2021, Daily Journal Corporation (DJCO) reported consolidated revenues of $11,528,000, an increase of $1,108,000 from the previous year, driven by higher consulting and public service fees. However, the Traditional Business saw a $42,000 drop in pretax income, totaling $506,000. The company's marketable securities generated $875,000 in dividends. Consolidated net income was $6,878,000 or $4.98 per share, down from $59,270,000 or $42.93 per share in Q4 2020. The ongoing pandemic poses risks to operations, particularly affecting court-related services.

Daily Journal Corporation reported fiscal 2021 consolidated revenues of $49.39 million, a decline from $49.94 million the previous year, primarily due to decreased income from its Journal Technologies and Traditional Business divisions. Despite this revenue drop, the company achieved a significant increase in consolidated net income to $112.9 million ($81.77 per share) from $4.04 million ($2.93 per share) in the prior year. The pretax income rose to $153.05 million, benefiting from realized gains on marketable securities and operational improvements in both business segments.

Daily Journal Corporation (NASDAQ:DJCO) reported consolidated revenues of $37,952,000 for the nine months ending June 30, 2021, a increase of $1,045,000 compared to the previous year. The pretax income surged to $154,434,000, up from a loss of $39,102,000 last year, with net income reaching $114,319,000 ($82.80 per share). Key contributors included increased license fees and legal notice advertising. However, there's a risk from the ongoing COVID-19 pandemic affecting operations. The tax provision was $40,115,000, reflecting an effective tax rate of 26%.

Daily Journal Corporation (NASDAQ:DJCO) reported consolidated revenues of $24,390,000 for the six months ending March 31, 2021, reflecting a $357,000 increase from the prior year. This growth was primarily driven by higher fees from Journal Technologies, despite declines in the Traditional Business’ advertising and circulation revenues. Consolidated net income surged to $71,746,000 ($51.96 per share), compared to a net loss of $42,116,000 the previous year. The company is facing ongoing challenges due to COVID-19, which may impact its marketable securities' volatility.

Daily Journal Corporation reported consolidated revenues of $10,420,000 for the three months ending December 31, 2020, down from $11,677,000 year-over-year. Key declines came from decreased licensing, consulting fees, and advertising revenues. Despite revenue drops, pretax income rose to $81,450,000, leading to net income of $59,270,000 or $42.93 per share, up from $14,210,000 or $10.29 per share in the previous year. However, the company highlighted ongoing risks from the COVID-19 pandemic that could impact future performance.

Daily Journal Corporation (NASDAQ:DJCO) reported consolidated revenues of $49,942,000 for fiscal 2020, up from $48,655,000 in 2019. The revenue increase stemmed mainly from Journal Technologies, which saw a rise in license and maintenance fees by $1,468,000. However, Traditional Business faced declines in advertising revenue totaling $1,882,000. The company recorded a consolidated pretax income of $4,226,000, a significant recovery from the $31,476,000 loss in 2019. Notably, unrealized losses on investments decreased from $17,715,000 to $3,099,000.

Daily Journal Corporation (NASDAQ: DJCO) reported consolidated revenues of $36.91 million for the nine months ended June 30, 2020, up from $35.66 million YoY. Key drivers included increased fees from Journal Technologies. However, the Traditional Business faced significant revenue declines largely due to the COVID-19 pandemic, resulting in a pretax loss of $39.10 million. Quarterly gains were boosted by unrealized investment gains of $16.49 million. The firm anticipates a drop in future dividend income due to changes in its investment portfolio.