Earnings: AH Belo Slims Loss As Revenues Drop 15 Percent
This story was written by David Kaplan.
Newspaper publisher AH Belo (NYSE: AHC) (NYSE: BLC) posted a $33.1 million ($1.62 per share) net loss in Q4, narrowing down from last year's $343.6 million ($16.80 per share). Revenues for the quarter declined 15 percent to $160 million. The fall was naturally attributed to diminishing ad revenues, both on the print and online sides, as the segment was down 22 percent in Q4, driven primarily by declines in classifieds at The Dallas Morning News. The earnings results were also impacted by a $1.5 million ($0.05 per share) related to job eliminations. Thew company's $10 million in debt was unchanged from Q3 and were used to help fund buyouts during the year.
The full year: AH Belo, not to be confused with its broadcast sibling Belo Corp., saw 2008 results closely reflect its Q4. Total revenues fell 14 percent to $637 million. Meanwhile, its loss was slimmed to $62.3 million versus 2007's $347 million.
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By David Kaplan