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.”