Bucking the trend of newspapers publishers swinging to profit, AH Belo (NYSE: AHC) (NYSE: BLC) saw its net losses continue to expand and its revenues continuing to decline. The Dallas-based owner of The Providence Journal and The Dallas Morning News felt the impact of a $1.7 million ($0.10 per share) impairment charge for its investment in a “customer value management system” at its hometown paper.
While the company tried to hold down costs—for example, debt was held at $3.5 million as of June 30, 2009, down from $12.7 million last year—combined print and digital ad revenues were down 30.2 percent, due to declines in retail, general and classified. All told, the company’s net loss widened to $7.1 million from $3.1 million last year.
|2Q 2009||2Q 2008||Analysts’ Estimates For 2009|
Earnings release | Webcast (2:00PM EDT)
By David Kaplan