A. H. Belo Corporation Announces
Second Quarter 2017 Financial Results
Digital and marketing services revenue grew 14.8 percent in 2017 compared to 2016, primarily from DMV, which grew $1.8 million, or 50.3 percent
Digital and marketing services revenue represented 38.5 percent of 2017 total advertising and marketing services revenue compared to 31.8 percent in 2016
Operating expense decreased $0.5 million compared to 2016
DALLAS - A. H. Belo Corporation (NYSE: AHC) today reported second quarter 2017 net loss attributable to A. H. Belo Corporation (the “Company”) of $(0.8) million, or $(0.04) per share. In the second quarter of 2016, the Company reported net income attributable to A. H. Belo Corporation of $0.7 million, or $0.03 per fully diluted share.
In the second quarter of 2017, on a non-GAAP basis, the Company reported operating income excluding certain items (“adjusted operating income”) of $2.8 million, a decrease of $3.0 million, or 51.6 percent, when compared to adjusted operating income of $5.8 million reported in the second quarter of 2016.
Jim Moroney, chairman, president and Chief Executive Officer, said, “While the second quarter decline in print-related revenues was challenging, we continue to see excellent growth from digital marketing services as revenue improved by 14.8 percent over the prior year, primarily driven by DMV’s growth of 50.3 percent compared to the second quarter of 2016. In addition, we are making steady progress in building a base of paid digital subscribers which increased to 20,270 at the end of the second quarter, a gain of 2,101 subscribers, or 11.6 percent, over the total at the end of the first quarter. These two areas of our business have significant upside opportunity and provide the basis for growing our way into a sustainable business model.
“On the news side, we were very pleased to be recognized with numerous awards. Most recently, we received a national Edward R. Morrow Award and were recognized as a finalist for