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A. H. Belo Corp (AHC) SEC Filing 10-K Annual report for the fiscal year ending Friday, December 31, 2010

A. H. Belo Corp

CIK: 1413898 Ticker: AHC
Exhibit 99.1
GRAPHIC
     
 
  FOR IMMEDIATE RELEASE
Tuesday, February 22, 2011

7:00 A.M. CST
A. H. Belo Corporation Reports
Fourth Quarter and Full-Year 2010 Financial Results
     DALLAS — A. H. Belo Corporation (NYSE: AHC) today reported fourth quarter and full-year 2010 total revenues of $130.8 million and $487.3 million, respectively. The Company recorded a pre-tax $132.3 million pension withdrawal charge in the fourth quarter, and posted a fourth quarter net loss of $5.65 per share. The Company’s full-year 2010 net loss was $5.92 per share.
     When pension and impairment charges are added back to EBITDA (“Adjusted EBITDA”) in both periods, the resulting Adjusted EBITDA in the fourth quarter was $15.6 million, a decrease of $4.2 million compared to the prior year. Adjusted EBITDA for the full-year 2010 was $56.5 million, an increase of $23.8 million or 72.5 percent compared to the prior year.
     Robert W. Decherd, chairman, president and Chief Executive Officer, said, “Our improved 2010 operating performance reflects the Company’s success in executing a content-first strategy of producing local news and information on a scale that other media cannot match. For 2011, the Company’s top three priorities are executing on revenue initiatives, remaining vigilant on expenses, and maximizing operating cash flow. Although the timing of real estate dispositions and potential proceeds are hard to predict, we are hopeful that results similar to 2010’s will be realized in 2011.”
     As of December 31, 2010, A. H. Belo had approximately $86 million of cash and cash equivalents, had no borrowings outstanding under its bank credit facility, and remained in compliance with bank covenants. As the Company announced on January 3, 2011, the Company will make an additional $30 million contribution into the two new defined benefit pension plans created, sponsored and managed by or on behalf of the Company (the “AHC Pension Plans”). The Company anticipates making the additional cash contribution in the first quarter, and this contribution will reduce the Company’s
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P.O. Box 224866 Dallas, Texas 75222-4866 Tel. 214.977.8200 Fax 214.977.8201
www.ahbelo.com Deliveries: 508 Young Street Dallas, TX 75202

 


The following information was filed by A. H. Belo Corp (AHC) on Wednesday, February 23, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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A. H. Belo Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2011 10-K Annual Report includes:

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SEC Filing Tools
Ticker: AHC
CIK: 1413898
Form Type: 10-K Annual Report
Accession Number: 0000950123-11-024802
Submitted to the SEC: Fri Mar 11 2011 4:50:07 PM EST
Accepted by the SEC: Fri Mar 11 2011
Period: Friday, December 31, 2010
Industry: Newspapers Publishing Or Publishing And Printing

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