A.H. Belo narrows 3Q loss as expenses fall

posted: 102 DAYS 22 HOURS AGO

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DALLAS -Lower costs helped A.H. Belo Corp., publisher of The Dallas Morning News, narrow its quarterly loss even as advertising revenue fell sharply.

The company, which publishes a handful of other dailies, posted a 27 percent drop in ad revenue for the third quarter Friday, comparable to declines at other newspaper publishers.

But falling newsprint and labor costs helped stem its losses. The company has cut jobs, salaries and employee benefits this year.

Its shares jumped 82 cents, or 24 percent, to $4.23 in afternoon trading.

Belo posted a net loss for the most recent quarter of $5.8 million, or 28 cents per share, compared with a loss of $17.3 million, or 84 cents per share, a year ago.

The most recent results included a $20 million charge related to the company's planned sale of a packaging facility operated by the Morning News. The company also booked a $12 million gain on a favorable tax adjustment.

Overall revenue tumbled 17 percent to $126.9 million.

2009-10-30 13:53:16