A.H. Belo Loses $3.2 Million In First Quarter as Newspaper Pure-Play

By: Mark Fitzgerald

A.H. Belo Corporation, in its first quarterly report as a stand-alone newspaper company, reported a loss of $3.2 million, or 16 cents a share, on advertising revenue that sank 21%.

Total revenue was down 15% from the year-ago period, the publisher of The Dallas Morning News and three other dailies said.

A.H. Belo’s revenues were particularly hurt by the performance of The Press-Enterprise in Riverside, Calif., where ad revenue, including Internet revenue, fell 25% — a slight improvement, it noted, from the 26% decline in the first quarter.

The company did not break out its advertising results.

Robert W. Decherd, A.H. Belo’s chairman, president and CEO, said that “declines in ad revenue are unlikely to stabilize in the near term.”

Consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) was $10 million, A.H. Belo said.

Internet revenue of $12 million accounted for 7.4% of total revenue, it said. Circulation revenue increased 8.5% on a rise in commercial printing revenue, which was up 14%.

Aggregate newspaper EBITDA margin was 12% for Q2 — down from 22% in the year-ago quarter.

The company reported it has no long-term debt.

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