Projo parent posts $1.5M gain in 3Q

PROVIDENCE JOURNAL PARENT, A.H. Belo Corp., reported net income of $1.48 million during the third quarter, versus a net loss of $135,000 during the same period in 2011.
Posted 10/29/12

DALLAS – During the third quarter, A.H. Belo Corp., the parent company of the Providence Journal and three other daily newspapers, reported net income of $1.48 million, or 6 cents per diluted share, compared with a net loss of $135,000, or 1 cent per diluted share, for the third quarter of 2011.

The third quarter’s net income included a credit of $2.5 million for a consent judgment related to past tax assessments of real estate by the city of Providence.

A.H. Belo saw a 1 percent decline in revenue during the third quarter from $110 million during the third quarter of 2011 to $108.9 million during the third quarter of 2012.

The decline in revenue was the “lowest since our spin-off from Belo Corp.,” said A.H. Belo chairman, president and CEO Robert W. Decherd in a statement, adding that the decline was driven by advertising revenue performance at The Dallas Morning News and increased printing and distribution revenue in Providence and Riverside, Calif.

“We are very pleased with our results thus far in 2012,” said Decherd. “While advertising revenues are difficult to predict, we remain confident in the company’s ability to deliver adjusted EBITDA and generate cash.”

The company’s EBITDA – earnings before interest, taxes, depreciation and amortization – was $10.5 million during the three months ended Sept. 30, a decrease of 3 percent year over year.

Decherd said the company expected full-year 2012 adjusted EBITDA to total $37 million to $41 million.

For the first nine months of the year, A.H. Belo saw a revenue of $322.9 million, a 4.1 percent decline from the $336.7 million reported during the same period in 2011.

The company reported a net loss of $2.15 million, or 10 cents per diluted share, for the first nine months of 2012, compared with a net loss of $13.7 million, or 64 cents per diluted share, for the same period in 2011.

PBN Hosted

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News