Dallas Morning News Parent Reports $4 Million Quarterly Loss, a Decline From a Year Ago

The parent of The Dallas Morning News Wednesday reported a reduced first-quarter loss, even as revenue declined across each of its major business operations.For the three-month period that ended March 31, Dallas-based A.H. Belo Corporation posted a net loss of $4 million, or 19 cents a share, an improvement over the $4.4 million loss a year ago.The first-quarter loss would have been greater if not for more than $9 million in reduced costs, including staff reductions, and a $1.3 million tax benefit.The news and marketing services company competes in an industry that has seen declining sales as consumers migrate away from print newspapers and have yet to sign up in droves to pay for news online.A.H. Belo has adjusted its business model to rely more on digital subscriptions and has created new revenue streams by providing marketing services to advertisers.The number of paid digital subscribers grew by about 2,000 in the quarter, and the total of 26,206 marked a 44 percent gain compared with a year ago.Total revenue was just under $50 million, a decline of 19 percent from a year ago. The drop was due in part to the loss of print advertising from a major grocery chain that pulled its ads from newspapers nationwide.“That was a lot of revenue for the company to lose on a single account,” said Jim Moroney, who was presiding over his final financial report as the company’s chief executive. Moroney, 61, is retiring this month after leading The Dallas Morning News for 17 years and the parent company since 2013.  Continue reading...