Click here to subscribe today or Login.
First Posted: 7/29/2013
(AP) A.H. Belo Corp. on Monday reported that earnings rose, even as revenue fell, because the newspaper publisher saved money on salaries and newsprint.
The company’s stock fell 12 cents, or 1.6 percent, to close at $7.50 on Monday.
The publisher of The Dallas Morning News said net income in the April-June period rose to $1.1 million, or 5 cents per share, compared with $262,000, or a penny per share, a year ago.
Revenue fell 4 percent to $104.5 million from $109.1 million a year ago.
Spending on salaries, wages and benefits fell 4 percent to $40.7 million and the cost of newsprint, ink and other supplies fell 7 percent to $14.3 million. Other production, distribution and operating costs were unchanged at $41.5 million.
The company said the revenue drop was the slimmest quarterly year-over-year decline since the company was spun off from Belo Corp. in 2008.
Advertising and marketing services revenue fell 4 percent, circulation revenue fell 2 percent and printing and distribution revenue fell 13 percent.
Like other newspaper publishers, A.H. Belo is trying to increase digital subscriptions. The Dallas Morning News reserves certain online stories for paying customers, and began charging for online access in 2011.
The circulation drop was primarily due to continued declines in home delivery and single copy sales of The Dallas Morning News, the company said. Companywide, gains in digital revenue did not make up for the drop in revenue from print display ads and classified ads.
Associated Press