Daily Journal Corp Stock Price, News & Analysis

Daily Journal Corporation (NASDAQ:DJCO) reported consolidated revenues of $12,301,000 for Q4 2022, up from $11,736,000 in Q4 2021, driven by increased consulting fees and public service revenues. The Traditional Business saw a pretax income increase to $935,000, while Journal Technologies reported a pretax loss of $1,651,000 due to rising operating expenses. The company sold marketable securities for $2,826,000, realizing $422,000 in net gains. Net income was $17,827,000 ($12.95 per share), up from $6,878,000 ($4.98 per share) year-on-year. Marketable securities valued at $307,151,000 included $144,717,000 in unrealized gains.

Daily Journal Corporation (DJCO) reported fiscal 2022 consolidated revenues of $54.01 million, up from $49.93 million in the previous year, driven by increased consulting fees and advertising revenues. However, the company faced a $102.55 million pretax loss, contrasting with a $153.05 million pretax income in fiscal 2021. Net loss for 2022 was $75.62 million (-$54.81 per share). The company also sold marketable securities worth $80.57 million and accrued unrealized losses of $229.9 million. The overall effective tax rate was 26.3%.

During the first nine months of 2022, Daily Journal Corporation (NASDAQ:DJCO) reported consolidated revenues of $34.8 million, down from $38 million in the prior year, primarily due to declines in Journal Technologies' license fees and Traditional Business circulation revenues. The company incurred a consolidated pretax loss of $40.5 million compared to a pretax income of $154.4 million in the same period last year. Additionally, they recorded a net loss of $30.8 million, translating to -$22.31 per share. The ongoing pandemic continues to pose risks to operations and marketable securities valuations.

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.