A. H. Belo Corporation Announces First Quarter 2018 Financial Results
Digital subscriptions grew by 8,036 subscribers, or 44.2 percent, in 2018 compared to 2017
Operating expense decreased $10.2 million, or 15.5 percent, in 2018 compared to 2017
DALLAS - A. H. Belo Corporation (NYSE: AHC) today reported first quarter 2018 net loss of $(4.0) million, or $(0.19) per share. In the first quarter of 2017, A. H. Belo Corporation (the “Company”) reported net loss of $(4.4) million, or $(0.21) per share.
In the first quarter of 2018, on a non-GAAP basis, the Company reported operating loss adjusted for certain items (“adjusted operating loss”) of $(2.5) million, a decrease of $1.7 million, or 198.7 percent, when compared to adjusted operating loss of $(0.8) million reported for the first quarter of 2017.
Jim Moroney, chairman, president and Chief Executive Officer, said, “During the first quarter, we grew our paid digital subscriber base by 8,036 subscribers, or 44.2 percent, over the first quarter 2017, ending the first quarter 2018 with 26,206 paid digital subscribers. It is imperative that we continue to build our base of consumer revenue and our results in the first quarter show real progress. Also, we continued to decrease our dependence on print advertising revenue. For the first quarter, total digital and marketing services revenue, excluding the impact of the new revenue guidance, was 41.1 percent of total advertising and marketing services revenue, reflecting a 430 basis point increase when compared to the 36.8 percent reported in the first quarter of 2017. Total digital and marketing services revenue was 22.4 percent of total revenue, reflecting a 110 basis point increase when compared to the 21.3 percent reported in the first quarter of 2017. Fortunately, we had implemented strong cost reduction actions in 2017, which contributed to total adjusted operating expense being 10.8 percent lower than the first quarter in the prior year.”