Total Revenue Fell in 2Q at ACN

By: E&P Staff American Community Newspapers (ACN) reported on Monday that on a same property basis, total revenue fell 2.8% for 2Q compared to the same period a year ago. Cash flow grew 6.6% and EBITDA increased 7.6% to $5 million.

Including its most recent Columbus acquisition, total revenue was up 24.9% to $18.1 million while advertising revenue grew 23.1% to $17 million.

Internet advertising revenue advanced 48.1%.

Gene Carr, chairman and CEO of ACN, said in a statement that the company expects to further expand EBITDA margins in the second half of the year as it integrates the Columbus cluster into the fold.

?The majority of cost savings have yet to be realized form the Columbus cluster, as we began implementing the most significant of our expense savings initiatives at the beginning of 3Q. Additionally, we recently restructured the cluster?s management team and sales force ? greatly improving and streamlining the advertising sales process.?

ACN is a community newspaper publisher, which operates three daily and 83 weekly newspapers in St. Paul, Minn., Dallas, Northern Virginia, and Columbus, Ohio.