Shares of AH Belo Corporation (NYSE: AHC), a newspaper publishing and local news and information company that owns and operates four daily newspapers and a diverse group of websites, plunged in Tuesday�s trading session after the company reported its fourth-quarter financial results. Although AHC swung to a profit in the fourth quarter, the company continued to see a decline in advertising sales.�
AH Belo shares fell to an intra-day low of $5.15 on Tuesday before finishing the day 9.31% lower at $5.16.�
AH Belo�s results reflect the problems faced by the newspaper industry as a whole. The newspaper industry has been facing declining advertising sales. AH Belo has struggled since the company was spun off from Belo Corp. in 2008. AHC�s revenue has continued to decline since 2008.�
In the fourth quarter, AH Belo�s advertising revenue, which includes print and digital, dropped 8.2%. The company�s display advertising sales fell 14%, while its digital advertising sales dropped 12%.�
For the quarter ended December 31, 2011, the Dallas, Texas-based company reported a profit of $2.8 million, or $0.12 per share, compared with a loss of $119.5 million, or $5.65 per share reported for the same period in the previous year. The company swung to a profit in the fourth quarter in prior-year pension impacts.�
Revenue for the quarter ended December 31, 2011 dropped 4.6% to $124.9 million. The company�s printing and distribution revenue for the quarter climbed 12%.�
Robert W. Decherd, Chairman and CEO of AH Belo, said that the company intends to spend approximately $3 million at the Dallas Morning News on initiatives focused on small and mid-size businesses. The company also plans to spend another $4 million for marketing programs.�
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