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A. H. Belo Corp (AHC) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

A. H. Belo Corp

CIK: 1413898 Ticker: AHC
Exhibit 99.1

 
FOR IMMEDIATE RELEASE
 
Tuesday, February 12, 2013
7:00 A.M. CST

A. H. Belo Corporation Announces Full-Year 2012 and
Fourth Quarter Net Income
DALLAS - A. H. Belo Corporation (NYSE: AHC) today reported full-year 2012 net income of $0.01 per share compared to a net loss of $0.51 per share in 2011. In the fourth quarter of 2012, the Company’s net income was $0.11 per share compared to a net income of $0.12 per share in the fourth quarter of 2011. Fourth quarter 2012 net income includes non-cash expense of $2.4 million for the impairment of press-related assets in Southern California and $0.6 million of costs to cease printing certain commercial products.
Adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization (“EBITDA”) with pension expense, impairment expense and net investment-related losses added back, was $41.8 million for the full-year 2012, reflecting our investments in new products and marketing. As a result of these investments Adjusted EBITDA decreased 12 percent compared to the prior year period. Adjusted EBITDA for the fourth quarter of 2012 was $13.6 million - a decrease of 39 percent compared to the prior year period.
As of December 31, 2012, cash and cash equivalents were $34.1 million, and the Company had no borrowings under its bank credit facility. On January 4, 2013, the Company terminated its credit agreement to provide greater financial and operating flexibility and eliminate substantial costs related to the credit agreement.
Robert W. Decherd, chairman, president and Chief Executive Officer, said, “Our 2012 operating performance reflects the Company’s success in fulfilling its financial principles, while continuing to focus on diversifying and stabilizing revenue streams, managing expenses and generating cash.
“For the first year since the spin-off from Belo Corp. in 2008, A. H. Belo was net income positive, an outstanding accomplishment during these transformational times. Thanks to prudent expense management, the Company delivered 2012 Adjusted EBITDA of $41.8 million, exceeding the high end of our previous guidance. We begin 2013 with a strong balance sheet and the flexibility to deploy cash in the long-term interests of the Company, its shareholders and employees.”

-more-

P.O. Box 224866 Dallas, Texas 75222-4866 Tel. 214.977.8200 Fax 214.977.8201
www.ahbelo.com Deliveries: 508 Young Street Dallas, Texas 75202

The following information was filed by A. H. Belo Corp (AHC) on Tuesday, February 12, 2013 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Changes In Accounting Estimates
Changes In Accounting Estimates (details Textual)
Commitments
Commitments (details Textual)
Commitments (details)
Commitments (tables)
Contingencies
Earnings Per Share
Earnings Per Share (details Textual)
Earnings Per Share (details)
Earnings Per Share (tables)
Fair Value Measurements
Fair Value Measurements (details Textual)
Fair Value Measurements (details)
Fair Value Measurements (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets Goodwill (details Textual)
Income Taxes
Income Taxes (tables)
Income Taxes Expense/benefit Reconciliation (details)
Income Taxes Net Deferred Tax Assets And Liabilities (details 2)
Income Taxes Rate Reconciliation (details 1)
Income Taxes Supplemental Information (details Textual)
Income Taxes Unrecognized Tax Positions (details 3)
Intangible Assets (details)
Intangible Assets (tables)
Intangible Assets Amortization (details Textual)
Investments
Investments (details Textual)
Investments (details)
Investments (note Table)
Long-term Debt
Long-term Debt (details Textual)
Long-term Incentive Plans
Long-term Incentive Plans (details 1)
Long-term Incentive Plans (details 2)
Long-term Incentive Plans (details 3)
Long-term Incentive Plans (details Textual)
Long-term Incentive Plans (details)
Long-term Incentive Plans (tables)
Pension And Other Retirement Plans
Pension And Other Retirement Plans (details Textual)
Pension And Other Retirement Plans (tables)
Pension And Other Retirement Plans Expected Benefit Payments (details 3)
Pension And Other Retirement Plans Fair Value And Allocation Of Plan Assets (details 2)
Pension And Other Retirement Plans Net Periodic Pension Expense (details 1)
Pension And Other Retirement Plans Summary (details)
Quarterly Results Of Operations (unaudited)
Quarterly Results Of Operations (unaudited) (details)
Quarterly Results Of Operations (unaudited) (tables)
Related Party Transactions
Related Party Transactions (details Textual)
Shareholders' Equity
Shareholders' Equity (details Textual)
Shareholders' Equity (details)
Shareholders' Equity (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies And Recently Issued Accounting Standards Property, Plant And Equipment Useful Lives (details)
Summary Of Significant Accounting Policies And Recently Issued Accounting Standards Property, Plant And Equipment Useful Lives (tables)
Summary Of Significant Accounting Policies And Recently Issued Accounting Standards Shareholders Equity (details Textual)
Summary Of Significant Accounting Policies And Recently Issued Accounting Standards Supplemental Information (details Textual)
Termination And Exit Costs
Termination And Exit Costs (details Textual)
Ticker: AHC
CIK: 1413898
Form Type: 10-K Annual Report
Accession Number: 0001413898-13-000013
Submitted to the SEC: Thu Mar 07 2013 6:03:56 PM EST
Accepted by the SEC: Fri Mar 08 2013
Period: Monday, December 31, 2012
Industry: Newspapers Publishing Or Publishing And Printing

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