By: E&P Staff
By Kimberley Donoghue/PBN Web Editor
DALLAS, Texas – The A.H. Belo Corp., parent company of the Providence Journal, swung to the black in the third quarter, reporting a profit of $4.57 million, or 20 cents per diluted share, compared with a loss of $5.77 million for the same 2009 period.
The company had posted losses since it was spun off from Belo Corp. in 2008, except for one quarter.
The newspaper publisher, also responsible for The Dallas Morning News and California’s The Press-Enterprise, said Wednesday that revenue shrunk 6.1 percent to $119.13 million for the three months ended Sept. 30, compared with $126.87 million as seen a year earlier. Total advertising revenue, including print and digital revenue, declined 11.2 percent as circulation revenue slipped 0.9 percent.
Read full story here.