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Exhibit 99.1
A. H. Belo Corporation Announces First Quarter 2019 Financial Results
DALLAS – A. H. Belo Corporation (NYSE: AHC) today reported a first quarter 2019 net loss of $3.0 million, or $(0.14) per share. In the first quarter of 2018, the Company reported a net loss of $4.0 million, or $(0.19) per share.
For the first quarter of 2019, on a non-GAAP basis, A. H. Belo reported operating loss adjusted for certain items (“adjusted operating loss”) of $0.9 million, an improvement of $2.6 million, or 74.7 percent, compared to the first quarter of 2018.
Robert W. Decherd, chairman, president and Chief Executive Officer, said, “The Company made notable progress during the first quarter by narrowing our net loss and concentrating on a range of initiatives designed to build a strong digital business.
“There were encouraging signs at The Dallas Morning News during the first quarter, particularly the improvement in run-of-press print advertising. The News continues to see sequential growth in digital subscription volume and pricing, albeit at levels that must continue to grow in order to fully implement our digital-first strategy. News and editorial content of the newspaper has been highly-impactful during the first four months of the year.
“Changes implemented by The News in its commercial printing business during the quarter have matched our expectations for margin improvement and re-sizing the business to focus on a few, major customers.
“At Belo + Company, timing of sales and fulfillment of contracts were the focus during the first quarter, along with the bolt-on acquisition of a small creative agency in Tulsa, Oklahoma, acquired on April 1st, that will complete Belo + Company's suite of services and support client activities now and into the future. We are also benefiting from the presence of new leaders in both the sales and agency channels.”
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by A. H. Belo Corp.
A. H. Belo Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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The most significant decline in advertising revenue has been attributable to print display and classified categories.
Revenue decreased $1,023 due to a volume decline in preprint newspaper inserts, consistent with the decline in circulation volumes discussed below.
The Companys advertising revenue from its core newspapers continues to be adversely affected by the shift of advertiser spending to other forms of media and the increased accessibility of free online news content, as well as news content from other sources, which resulted in declines in advertising and paid print circulation volumes and revenue.
These categories have declined to 17.6 percent of consolidated revenue thus far in 2019, and further declines are likely in future periods.
The table below sets forth the components of the Companys operating costs and expense.
Revenue decreased due to home...Read more
On March 7, 2019, the...Read more
Revenue decreased $228 primarily due...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: 0001413898-19-000015
Submitted to the SEC: Mon Apr 29 2019 5:21:34 PM EST
Accepted by the SEC: Mon Apr 29 2019
Period: Sunday, March 31, 2019
Industry: Newspapers Publishing Or Publishing And Printing