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Exhibit 99.1
A. H. Belo Corporation Announces Fourth Quarter and
Full Year 2016 Financial Results
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Digital and marketing services revenue grew 20.0 percent in 2016 compared to 2015, primarily from DMV, acquired in 2015, which grew $7.8 million, or 86.6 percent |
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Digital and marketing services revenue represented 33.9 percent of 2016 total advertising and marketing services revenue compared to 27.1 percent in 2015 |
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Operating expense declined $6.7 million, or 2.3 percent, and adjusted operating expense declined $11.3 million, or 4.4 percent, in 2016 compared to 2015 |
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Annual unique visitors grew 23.9 percent in 2016 compared to 2015 |
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Signed operating lease to move the corporate headquarters |
DALLAS - A. H. Belo Corporation (NYSE: AHC) today reported fourth quarter 2016 net loss attributable to A. H. Belo Corporation (the “Company”) of $(18.9) million, or $(0.87) per share. In the fourth quarter of 2015, the Company reported net loss attributable to A. H. Belo Corporation of $(13.7) million, or $(0.64) per share. The fourth quarter 2016 loss was driven by a goodwill impairment charge of $22.7 million, while the fourth quarter 2015 loss was primarily attributable to a pension settlement charge of $15.0 million.
In the fourth quarter of 2016, on a non-GAAP basis, the Company reported operating income excluding certain items (“adjusted operating income”) of $1.8 million, a decrease of $6.8 million, or 79.3 percent, when compared to the fourth quarter of 2015.
For the full year 2016, net loss attributable to A. H. Belo Corporation was $(19.3) million, or $(0.90) per share. For the full year 2015, the Company reported net loss attributable to A. H. Belo Corporation of $(17.8) million, or $(0.84) per share. The full year 2016 loss was driven by a goodwill impairment charge of $22.7 million, while the full year 2015 loss was primarily attributable to a pension settlement charge of $15.0 million.
For the full year 2016, on a non-GAAP basis, the Company reported adjusted operating income of $11.6 million, a decrease of $0.8 million, or 6.4 percent, when compared to the full year 2015.
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