Daily Journal Corporation Announces Financial Results for the Six Months ended March 31, 2013

Daily Journal Corporation Announces Financial Results for the Six Months ended
March 31, 2013

LOS ANGELES, May 14, 2013 (GLOBE NEWSWIRE) -- During the six months ended
March 31, 2013, consolidated pretax income of Daily Journal Corporation
(Nasdaq:DJCO) decreased by $2,435,000 (45%) to $2,925,000 from $5,360,000 in
the comparable prior year period.

The Company's traditional business segment pretax income decreased by
$1,165,000 to $5,168,000 from $6,333,000 primarily because of a reduction in
trustee sale notice and related service fee revenues of $1,778,000, partially
offset by a reduction in operating costs and expenses of $759,000.

Sustain's and New Dawn's business segment had a pretax loss of $2,243,000
compared to $973,000 in the prior year period primarily due to (i) the
addition of New Dawn's pretax loss of $356,000 and (ii) an increase in
Sustain's personnel costs of $692,000 during the six months ended March 31,

Consolidated revenues were $17,446,000 and $15,986,000 for the six months
ended March 31, 2013 and 2012, respectively. This increase of $1,460,000 was
primarily from the additional New Dawn revenues of $3,690,000, partially
offset by the reduction in trustee sale notice and related service fee
revenues of $1,778,000. Although public notice advertising revenues were down
compared to the prior year period, and although that trend is expected to
continue, the Company still continued to benefit from the relatively large
number of foreclosures in California and Arizona for which public notice
advertising is required by law.

At March 31, 2013, the Company held marketable securities valued at
$120,299,000, including unrealized gains of $70,605,000. It accrued a
liability of $28,125,000 for income taxes due only upon the sales of the
appreciated securities. The marketable securities consist of common stocks of
three Fortune 200 companies, two foreign companies and certain bonds of a
sixth, and most of the unrealized gains were in the common stocks.

Comprehensive income includes net income and net unrealized gains on
investments, net of taxes.

Comprehensive Income
                                                    Six months ended March 31
                                                    2013         2012
Net income                                           $ 1,985,000  $ 3,750,000
Net change in unrealized appreciation of             10,915,000  16,840,000
investments (net of taxes)
Comprehensive income                                 $12,900,000  $20,590,000

Consolidated net income was $1,985,000 and $3,750,000 for the six months ended
March 31, 2013 and 2012, respectively.Net income per share decreased to $1.44
from $2.72.

Financial Information for the Company's Reportable Segments

                                 Traditional  Sustain and Total
                                   business     New Dawn*
Six months ended March 31, 2013                            
Revenues                           $12,439,000 $ 5,007,000 $17,446,000
Pretax income (loss)               5,168,000    (2,243,000) 2,925,000
Income tax (expense) benefit       (1,660,000) 720,000      (940,000)
Net income (loss)                  3,508,000    (1,523,000) 1,985,000
Amortization of intangible assets* --         635,000     635,000
                                  Traditional  Sustain      Total
Six months ended December 31, 2012                         
Revenues                           $14,528,000 $1,458,000 $15,986,000
Pretax income (loss)               6,333,000    (973,000)   5,360,000
Income tax (expense) benefit       (2,235,000) 625,000      (1,610,000)
Net income (loss)                  4,098,000    (348,000)   3,750,000

^*Includes New Dawn's financial results from December 5, 2012 through March
31, 2013 with revenues of $3,690,000, expenses of $4,046,000 (including
intangible amortization expenses of $635,000), and inter-company income tax
benefits of $115,000.

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.Sustain Technologies, Inc.
and New Dawn Technologies, Inc. are wholly-owned subsidiaries and supply case
management software systems and related products to courts and other justice

Daily Journal Corporation's Form 10-Q for the period ended March 31, 2013 is
expected to be filed electronically with the Securities and Exchange
Commission today. We invite your attention to the Form 10-K which contains our
consolidated financial statements, management's discussion and analysis of
financial condition and results of operations and other information.

This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Certain statements contained in
this press release are "forward-looking" statements that involve risks and
uncertainties that may cause actual future events or results to differ
materially from those described in the forward-looking statements. Words such
as "expects," "intends," "anticipates," "should," "believes," "will," "plans,"
"estimates," "may," variations of such words and similar expressions are
intended to identify such forward-looking statements. We disclaim any
intention or obligation to revise any forward-looking statements whether as a
result of new information, future developments, or otherwise.Although we
believe that the expectations reflected in such forward-looking statements are
reasonable, we can give no assurance that such expectations will prove to have
been correct. Additional information concerning factors that could cause
actual results to differ materially from those in the forward-looking
statements is contained from time to time in documents we file with the
Securities and Exchange Commission, including the Form 10-Q we expect to file
today and our Annual Report on Form 10-K for the fiscal year ended September
30, 2012.

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