AH Belo Corp. reported net income of $5.6 million, or $0.27 per share, in the fourth quarter of 2009. This was a marked improvement from the net loss of $33.1 million, or $1.67 per share, in the fourth quarter of 2008.
Despite the improvement in net income, revenues in the fourth quarter of 2009 fell on a year-over-year basis to $135.5 million, from $160.0 million in the fourth quarter of 2008.
AH Belo Corporation also improved its balance sheet on a year over year basis. The company increased its cash balance to $24.5 million at December 31, 2009, from $9.8 million a year earlier. AH Belo Corporation has no long term debt outstanding, and nothing drawn on its bank credit facility.
“Although macroeconomic and secular challenges remain, A. H. Belo will continue to focus on managing expenses, producing high-quality local content, and delivering value-added circulation to its advertisers,” said Robert W. Decherd, the CEO of AH Belo Corporation.
AH Belo Corporation has attempted to grow its Internet based revenues to offset declines in newspaper advertising. The company was unsuccessful at this in the fourth quarter of 2009, and saw Internet revenues decline 8.5% from the fourth quarter of 2008.
AH Belo Corporation is a publishing company located in Dallas, Texas. The company owns and operates four daily newspapers – The Dallas Morning News, The Providence Journal, The Press-Enterprise (Riverside, CA) and the Denton Record-Chronicle.