Wednesday, May 5, 2010

Belo losses continue as advertising revenue falls 19 percent; company announces its "pleased" with results

Reporting its first quarter financial reports last night, A.H. Belo announced that it lost $9.1 million during Q1 as advertising revenue fell a further 19 percent, far more than other newspaper companies have reported.
"A. H. Belo's board of directors and management committee are pleased with the company's first-quarter results," said Robert W. Decherd, A. H. Belo's chairman, president and chief executive.

The Dallas Morning News, a A.H. Belo property, said that despite the results the company remains debt-free.

"They are struggling some more than some other newspaper companies," Edward Atorino, a media analyst at Benchmark Co. told the Morning News. "But they've got no debt, which is wonderful."