Please wait while we load the requested 10-K report or click the link below:
|FOR IMMEDIATE RELEASE|
Tuesday, February 21, 2012
5:00 A.M. CST
A. H. Belo Corporation Announces Fourth Quarter and
Full-Year 2011 Financial Results and Discusses 2012 Outlook
DALLAS A. H. Belo Corporation (NYSE: AHC) today reported fourth quarter net income of $0.12 per share compared to a net loss of $5.65 per share in the fourth quarter of 2010. Fourth quarter 2011 net income includes non-cash expenses of $6.5 million for the impairment of Southern California real estate; $2.6 million for net investment-related losses; and $1.4 million for the write-down of spare parts inventory. For the full-year 2011, the Companys net loss was $0.51 per share compared to a net loss of $5.92 per share in 2010.
Adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization (EBITDA) with pension expense, impairment expense and net investment-related losses added back, was $22.3 million in the fourth quarter of 2011 an increase of 42.9 percent compared to the prior year period. Adjusted EBITDA for full-year 2011 was $47.7 million, a decrease of 15.6 percent compared to the prior year period due primarily to $0.1 million of real estate gains in 2011 compared to $7.1 million of real estate gains in 2010.
As of December 31, 2011, cash and cash equivalents were $57.4 million, and the Company had no borrowings under its bank credit facility.
Robert W. Decherd, chairman, president and Chief Executive Officer, said, We finished the year with improved year-to-year comparables, particularly in Dallas and Riverside. Due to better advertising trends and ongoing expense containment, Adjusted EBITDA in the fourth quarter and full-year 2011 exceeded our expectations.
Decherd continued, For the third consecutive year, we begin the year with a strong balance sheet and the flexibility to deploy cash in the long-term interests of the Company, its shareholders and employees. In 2012, we will invest approximately $3 million into a new operating initiative at The Dallas Morning News that will provide
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 Tuesday, February 21, 2012 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.
View differences made from one year to another to evaluate A. H. Belo Corp's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by A. H. Belo Corp.