DALLAS--(BUSINESS WIRE)--Oct. 3, 2012--
A. H. Belo Corporation (NYSE: AHC) announced today that it expects third
quarter revenues to be in the range of $108 to $109 million, a decrease
of one to two percent versus the third quarter of 2011. This performance
was driven by advertising revenues in August and September at The
Dallas Morning News, and by increased printing and distribution
revenue in Providence and Riverside. Advertising revenue at The
Morning News was up over the prior year for both months.
Robert W. Decherd, chairman, president and Chief Executive Officer,
said, “We are encouraged by third quarter revenue performance. While
visibility remains challenging, our focus on diversifying and
stabilizing revenues remains our top priority, and these results reflect
the hard work of A. H. Belo’s employees on all fronts.”
The Company reaffirmed its guidance for full-year 2012 Adjusted EBITDA,
or earnings before interest, taxes, and depreciation and amortization
(“EBITDA”) with pension expense added back, of $37 to $41 million. The
2013 planning process is still underway. However, absent unexpected
changes, Adjusted EBIDTA for 2013 will be in the same range.
The Company also announced it is offering, or will automatically
distribute, lump sum payments to certain pension plan participants whose
benefits have a present value of $30,000 or less. The Board of Directors
authorized these actions in conjunction with the Company’s continued
efforts to address pension plan underfunding and reduce the cost of
operating the Company’s plans. Approximately 1,500 participants, or 30
percent of total plan participants, will receive these offers or
distributions. The number of actual participants selecting the voluntary
opportunities will not be known until later in 2012.
Investor Day
A. H. Belo’s 2012 Investor Day will take place on Thursday, October 4 in
Dallas, Texas beginning at 9:00 a.m. CDT. A. H. Belo's Management
Committee and Publishers will discuss operating and financial
strategies, and the Company's real estate portfolio. Investor Day will
be simultaneously webcast, beginning at 9:30 a.m. CDT, on the Company’s
website at www.ahbelo.com/invest.
The Company will place the 2012 Investor Day presentation on www.ahbelo.com/invest
at approximately 7:00 a.m. CDT. An archive and transcript of the webcast
will be available at www.ahbelo.com
in the Investor Relations section.
About A. H. Belo Corporation
A. H. Belo Corporation (NYSE: AHC), headquartered in Dallas, Texas, is a
distinguished newspaper publishing and local news and information
company that owns and operates four daily newspapers and related
websites. A. H. Belo publishes The Dallas Morning News, Texas’
leading newspaper and winner of nine Pulitzer Prizes; The Providence
Journal, the oldest continuously-published daily newspaper in the
United States and winner of four Pulitzer Prizes; The Press-Enterprise
(Riverside, CA), serving the Inland Southern California region and
winner of one Pulitzer Prize; and the Denton Record-Chronicle.
The Company publishes niche publications targeting specific audiences,
and its investments and/or partnerships include Classified Ventures,
owner of Cars.com, and the Yahoo! Newspaper Consortium. A. H. Belo also
owns and operates commercial printing, distribution and direct mail
service businesses. Additional information is available at www.ahbelo.com
or by contacting Alison K. Engel, Senior Vice President/Chief Financial
Officer, at 214-977-2248.
Statements in this communication concerning A. H. Belo Corporation's
(the "Company's") business outlook or future economic performance,
anticipated profitability, revenues, expenses, dividends, capital
expenditures, investments, impairments, pension plan contributions, real
estate sales, share repurchases, future financings, and other
financial and non-financial items that are not historical facts, are
"forward-looking statements" as the term is defined under applicable
federal securities laws. Forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual results
to differ materially from those statements.
Such risks, uncertainties and factors include, but are not limited
to, changes in capital market conditions and prospects, and other
factors such as changes in advertising demand and newsprint prices;
newspaper circulation trends and other circulation matters, including
changes in readership methods, patterns and demography, and audits and
related actions by the Audit Bureau of Circulations; challenges
implementing increased subscription pricing and new pricing structures;
challenges in achieving expense reduction goals, and on schedule, and
the resulting potential effects on operations; technological changes;
development of Internet commerce; industry cycles; changes in pricing or
other actions by existing and new competitors and suppliers; labor
relations; regulatory, tax and legal changes; adoption of new accounting
standards or changes in existing accounting standards by the Financial
Accounting Standards Board or other accounting standard-setting bodies
or authorities; the effects of Company acquisitions, dispositions,
co-owned ventures, and investments; pension plan matters; general
economic conditions and changes in interest rates; significant armed
conflict; and other factors beyond our control, as well as other risks
described in the Company's Annual Report on Form 10-K for
the year ended December 31, 2011, and other public disclosures and
filings with the Securities and Exchange Commission.
Source: A. H. Belo Corporation
A. H. Belo Corporation
Alison K. Engel, 214-977-2248
Senior
Vice President/Chief Financial Officer
www.ahbelo.com
