Lois. you, Thank
everyone. Good morning,
Katy Murray, of is Financial Chief A. This Officer
H.
Belo Corporation.
first our call. quarter to conference XXXX Welcome
am I Robert of by joined A. Executive and Officer Chief Decherd, Chairman, President
H.
and of Belo; who Company, available Dallas and Moise, all President President Q&A. Grant Morning Belo Publisher are News; Tim for + Storer, of The
release issued XXXX first results. afternoon, we announcing Yesterday a press quarter
first on have quarter XXXX Unless otherwise section. posted Investor the Relations quarter this We performance. first comparison XXXX release today's views under performance measure on against our website call specified,
discussion will include forward-looking Our statements. today
law. Forward looking obligation other those actual differ statements information otherwise are risks, no uncertainties by communication, from update to subject results factors and to this statements. materially assumes as in cause that company the The could except to required
factors in performance in financial non-GAAP provide financial to releases the about with useful detailed to filings available supplemental information non-GAAP company's investors our publicly We SEC. the Today's determining will Additional the information measures comparisons Reconciliations believe to that and these peers. discussion press measures. include is assist schedule noncash comparable that our accounted section. in are not for segment GAAP operating with website reporting on or directly the financial the since on our accordance year, non-GAAP the this loss. include provided Investor income measures Starting pension under Relations credit presented most does based below is
service loss of or in $X.XX per with $X of marketing reported H. recast the net publishing million segment share XXXX was Belo reported the the in or is such. million share, information and it addition, previously reported by for more of first determined loss segment first was $X.XX a in services a XXXX businesses A. In quarter financial comparative will net as of quarter XXXX. line purposes. compared our per one providing be segment to $X
Circulation by quarter subscription News, year. I $XXX,XXX $XX.X reported first the Company last Belo Home an declined QX or to will the of million $X.X of + million declined X.X% Dallas performance year. and year. a compared or $XXX,XXX, Beginning revenue in million year. quarter, to are last declined by loss was the or revenue was lower Dallas revenue X.X%, primarily the to X.X% net and in of of or to increases. quarter compared revenue increase delivery separately. first total to delivery XXXX. quarter Digital-only The X.X% XX.X% $XX.X Print improvement revenue due the was $XX.X of single advertising of first first a or first compared XXXX, digital compared the single-copy reported the by million quarter quarter of of million operating financial decrease last or or to XXXX For Morning of of compared with offset XXXX of quarter rate first $XXX,XXX net QX the for revenue and down The copy declines $X.X adjusted first last $XXX,XXX for $XX.X million over partially last volumes, home XX.X% and News we $XXX,XXX an of of a $X.X Morning million, year. $X.X X.X% quarter million review XXXX
transformation of the with due clients. by experience The first year, commercial be to to years business and print Eric to continue the Grant to in subscription more to company's [Technical direct pricing. is to Belo serve was Other named business million the this XX encouraged brokered print group. working that primarily decline quarter reports of its with revenue a Morning decreased eliminating The XX provided $X.X than at is President number XX.X% Dallas X. the from customers and volume an small of executive or news News Media printing services continue than Moise growth and the Difficulty] more We Myers digital Earlier to company. to of XXXX. digital-first $XXX,XXX team Eric we veteran closely We was industry for reduced
to the $X.X XXXX. XX, million matched first result million operating a XXX. reduction standard, a of in of a improvement of our and few improvement quarter, expense, The for a an million and $X.X of significant continued expense March and major XXXX, implementation for This million these year. first severance Morning the which Dallas changes XXXX. for first spending a QX first was the a $X.X Adjusted the total XXXX improvement decrease resizing discretionary operating in operating Morning of of for expense Dallas loss expense, expense new headcount management to is Adjusted compared of QX was the quarter of and of compared XX.X% customers. on The was $XX.X adjusted was or of or of depreciation operating As $X.X amortization or XX.X% decrease News million, of $XX.X of of last for quarter million complete $X.X XX% margin the for quarter when focus Operating adjusts in to to business revenue expectations the compared loss in million News
Belo financial highlights to Company. Turning for + now
this The Operating the and XXXX million, of total + decline existing of fill compared will last last to completed to creative $X.X + complement And to an for of For suite was Adjusted X.X% XXXX. $XX,XXX last and of $XXX,XXX Company the employee to compared Oklahoma. assets agency first Company operating $XXX,XXX due Belo million, of Cubic operating the Adjusted in decline with a of of decrease + or first in + or a of in certain was at located of quarter, the decrease compared April + gap. Company's increase benefit is a employees primarily the revenue an expense increase $X.X $X.X for $XX,XXX Inc., compared Belo Tulsa, the Company a of quarter quarter million XX to last year. Belo of year or first X.X% first first year. income year. Company acquisition expense $XXX,XXX, Belo X.X% quarter Belo quarter, X, expense. small On compensation when an in services was reported
Turning H. Belo metrics. now financial to A.
was decrease March XX, of result or primarily of elimination. from headcount decrease a of XXX, XX.X% announced XXX XXXX. a headcount As XX, March is This previously
debt. XX, March of no company million $XX.X of and As XXXX, had approximately the cash
As cash of April cash had equivalent. approximately XXth, in $XX company million and the
We to expect for approximately the million year. of this $X.X capital remainder be expenditures
regard benefit XXXX, the be $XXX,XXX expect to have first this reported to quarter any in taxes We we year. will Texas have paid continued years. expect quarter $XXX,XXX in do mandatory and program the repurchased that XX,XXX approximately $XXX,XXX. a related company's shares we of repurchase And in of tax company's first the for have margin the plan, approximately The share cash pension several contribution this do a tax. for to With not the year not primarily and company
vulnerable excellent profiled pleased Goldsmith extremely Center, Dallas Investigative series the Bingham to writing was Pain are continues Shorenstein Prize News that recognition News earn. awards: Harvard The the series, prestigious patients won series. the prize impact, for in Dallas approach journalism. investigative with to Reporting at significant its Morning and for praised the & national Worth the the for a sensitive The the and journalistic awarded X recently We more Profit,
XXXX. the honored categories news most we Photo international National Awards beat the with questions, additional company's was Overall, Finally, pleased board political we editorial are the industry's coverage with journalism, the continue is Lois, quarter. in some remain covering: this coverage. Headliner optimistic and opportunities year. And X news of to balance committee sheet. honors first Decherd the writing, with originating well has very this management positioned National be prestigious The Robert turn The media Award commentary. in Headliner and we month, one about a and before to oldest strong
