Daily Journal Corp. Reports Operating Results (10-K)

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Dec 15, 2010
Daily Journal Corp. (DJCO, Financial) filed Annual Report for the period ended 2010-09-30.

Daily Journal Corp. has a market cap of $99.4 million; its shares were traded at around $72 with a P/E ratio of 12.6 and P/S ratio of 2.5. Daily Journal Corp. had an annual average earning growth of 11.3% over the past 10 years.DJCO is in the portfolios of Whitney Tilson of T2 Partners Management, LP.

Highlight of Business Operations:

The Company has several court rules services. One is Court Rules, a multi-volume, loose-leaf set which had approximately 1,800 subscribers at September 30, 2010 paying $305 per year. Court Rules reproduces court rules for certain state and federal courts in California. The Court Rules appear in two versions, one of which covers Northern California courts (nine volumes) and one of which covers Southern California courts (eight volumes). The Company updates Court Rules on a monthly basis. In addition, the Company publishes a single volume of rules known as Local Rules for major counties of California. Six versions are published for Southern California, each a single bound volume for the rules of: (1) Los Angeles County; (2) Orange County; (3) San Diego County; (4) San Bernardino County; (5) Riverside County; and (6) Ventura, Santa Barbara and San Luis Obispo counties. Also, the Company publishes single-volume rules for the Federal District Court in the Central District of California and California Probate Rules. In Northern California, three versions of the Local Rules appear in loose-leaf books for Santa Clara/San Mateo, Alameda/Contra Costa and San Francisco counties. The regular subscription price for Local Rules volumes ranges from $62 to $96 per year, and volumes are normally updated or replaced whenever there are substantial rule changes. At September 30, 2010, the Company had approximately 2,350 subscribers for its Local Rules publications.

The Judicial Profiles services contain information concerning nearly all judges in California, both active and retired, many of whom are available for private judging. Most of the profiles have previously appeared in The Daily Journals as part of a regular feature. The Judicial Profiles include biographical data and financial disclosure statements on judges and information supplied by each judge regarding the judge's policies and views on various trial and appellate procedures and the manner in which appearances are conducted in his or her courtroom. Subscribers may purchase either the ten-volume set for Southern California or the eight-volume set for Northern California. The approximately 650 subscribers to Judicial Profiles receive updates on a quarterly basis. A subscription is $387 for each or $515 for both per year.

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