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Exhibit 99.1
A. H. Belo Corporation Announces Third Quarter 2018 Financial Results
DALLAS - A. H. Belo Corporation (NYSE: AHC) today reported a third quarter 2018 net loss of $1.0 million, or $(0.05) per share. In the third quarter of 2017, the Company reported net income of $2.6 million, or $0.12 per fully diluted share.
For the third quarter of 2018, on a non-GAAP basis, A. H. Belo reported operating income adjusted for certain items (“adjusted operating income”) of $2.6 million, a decrease of $1.6 million, or 39.0 percent, when compared to adjusted operating income of $4.2 million reported for the third quarter of 2017.
Robert W. Decherd, chairman, president and Chief Executive Officer, said, “The forces at work in the newspaper industry continue to affect advertising revenues at The Dallas Morning News. And while circulation levels are fairly stable, the benefits of increased investment in both digital and print circulation are just beginning to be defined. The Management Committee and leaders throughout The Morning News are well along in building the framework for a sustainably profitable newspaper in the digital world, with specific initiatives being developed for 2019 and beyond. I'm convinced that A. H. Belo has the right leadership focusing on the right questions in order to achieve this long-term result.
“Operating results at Belo + Company in the third quarter did not meet expectations, as the replenishment of contracts that terminated at the end of 2017 and early in 2018 moved at a slower pace than anticipated. However, the basic attributes of our digital marketing business continue to be compelling as Belo + Company meets the needs of a very large market comprising companies of $5 million to $100 million in revenue. We are counting on improved results in 2019.
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A. H. Belo Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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Other production, distribution and operating costs Expense decreased $5,017 and $13,964 in the three and nine months ended September 30, 2018, respectively, reflecting savings as the Company continues to manage discretionary spending.
As a result of adopting this guidance, total operating costs and expense decreased $5,051 and $3,333 for the three and nine months ended September 30, 2017, respectively.
Classified print revenue decreased in the three and nine months ended September 30, 2018, as a result of revenue declines in all categories, with the largest declines in automotive and real estate.
Newsprint, ink and other supplies Expense decreased in the three and nine months ended September 30, 2018, primarily due to a decrease in promotional material printing costs associated with MarketingFX.
As a result of the continued declines the Publishing segment experienced, and expects to continue to experience, in advertising and print circulation revenues, the Publishing reporting units goodwill was determined to be fully impaired as of December 31, 2016.
Newsprint, ink and other supplies...Read more
A. H. Belo Corporation Third...Read more
Revenue decreased in the three...Read more
In retail, the financial, department...Read more
Revenue decreased due to a...Read more
Cash flows used for financing...Read more
Marketing Services Employee compensation and...Read more
Other production, distribution and operating...Read more
The most significant decline in...Read more
Effective income tax rates were...Read more
Cash proceeds of $8,252 were...Read more
The Company?s advertising revenue from...Read more
Adoption of the new revenue...Read more
Other income, net ? Other...Read more
Display revenue decreased in the...Read more
Revenue decreased primarily due to...Read more
These categories, which represented 24.0...Read more
Price increases and supplemental editions...Read more
On September 5, 2018, the...Read more
The effective income tax rate...Read more
Upon completion of the sale,...Read more
Depreciation ? Expense decreased in...Read more
Certain goodwill and intangible assets...Read more
Revenue decreased primarily due to...Read more
Revenue declined by $262 and...Read more
Legal proceedings ? From time...Read more
Current holdings of treasury stock...Read more
Financial Statements, Disclosures and Schedules
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A. H. Belo Corp provided additional information to their SEC Filing as exhibits
Ticker: AHC
CIK: 1413898
Form Type: 10-Q Quarterly Report
Accession Number: 0001413898-18-000051
Submitted to the SEC: Mon Oct 29 2018 7:41:11 PM EST
Accepted by the SEC: Tue Oct 30 2018
Period: Sunday, September 30, 2018
Industry: Newspapers Publishing Or Publishing And Printing