By: Mark Fitzgerald Unlike its bigger newspaper publishing peers, Dallas-based A.H. Belo on Monday failed to report a pleasantly surprising second-quarter performance.
Instead, The Dallas Morning News parent reported its second-quarter loss more than doubled form a year ago as ad revenue dropped 30.2%.
Belo posted a net loss of $7.1 million, or 34 cents a share, compared with a net loss of $3.2 million, or 16 cents a share, in the year-ago period.
The 2009 Q2 loss included an impairment charge of $1.7 million or $0.10 per share related to a ?customer value management system? at the Morning News, Belo said. That was partially offset by $1.1 million, or 8 cents a share, in proceeds from an insurance claim the company received in the quarter.
Belo said total revenue decreased 21.9% in the quarter.
The 30.2% fall in advertising revenue, including print and Internet, represented declines in all major categories at all of Belo?s properties. Internet revenues also fell 20.8% to $9.8 million.
Like its peers, Belo reported deep cuts in expenses for the second quarter. It said total consolidated operating dropped 21.1% for the period to $132 million.
The expense cut for Belo, however, was not enough to offset the falling revenue -- unlike companies such as The McClatchy Co. and Gannett Co. that announced Q2 profits despite ad revenue that fell about by the same percentage.
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