welcome second and call. XXXX everyone, morning, to quarter our conference Good
am Chairman, of Decherd, by and I Robert Officer President joined Chief Executive A.
H.
Dallas Grant President and Publisher Morning The Corporation; News. Belo Moise, of and
a press Yesterday afternoon, we release our XXXX second announcing results. quarter issued
this posted website our on Relations under release Investor section. have We the
on call XXXX performance. second specified, XXXX quarter otherwise Unless today's performance comparisons used measure against quarter second
forward-looking will Our include statements. discussion today
uncertainties from and results Forward statements. other by that as to looking statements no actual materially are otherwise could the this assumes to Company risks, differ update information those subject The cause required to communication, factors obligation law. in except
Additional in filings the information publicly detailed available factors with and about is Company's the press these releases SEC.
non-GAAP in provide assist Relations our in the based discussion GAAP information to segment performance, supplemental determining most Investor financial measures presented measures website under peers. non-GAAP will directly believe Today's include Reconciliations investors useful on the reporting section. to financial are our comparisons our measures. financial to provided on with comparable that accordance We
of share second recorded sale the H. in Company of of income or for million million, $XXX,XXX gain $XX.X headquarters net diluted $XX XXXX $X.XX the to per quarter resulting quarter pre-tax fully or of per A. XXXX, of $XX.X $X.XX share quarter loss the net second compared second XXXX. completed Belo In a in million. the its former of
improvement with the to firm. global second for operating of $X.X reported due leading related compared compared XXXX, XX.X% of adjusted of consulting or For would decline $XX.X $XXX,XXX, over expense, decline the we million, quarter H. quarter million And we for management $X.X million Normalizing to operating consulting a quarter of $XXX,XXX one-time total reported X.X% adjusted expense last $X.X The of $X was this for last of represents adjusted Total quarter the of million revenue or X.X% one-time engagement operating to a second income year. Belo of a compared or of million $XX.X improvement to year. primarily representing of to decline $X.X a A. year. operating expenses million, an the last have adjusted income was XXXX. million
X.X% $X.X lines expense quarter, last the of majority from quarter across the year. almost of and adjusted expense fewer from to $X.X The we million headcount, or and the million savings compared being year. operating last comes compared benefit reduction with to having expense incurred for when improved of compensation XXX this Normalizing consulting one-time million expense line, $X.X
second to now the of of + I'll Company Belo Dallas review News separately. the turn The quarter Morning financial performance and
million News or compared X.X% X%, compared million million $X.X Dallas decrease Total quarter the the $XX.X was revenue revenue digital $XX.X second X.X%, Circulation to QX of down compared or to was advertising The of of for and $XX revenue reported in declined $XXX,XXX for $X.X million, million of in XXXX, last XXXX. quarter second XXXX. Morning second a million to of Print year. $XX.X or the
$XXX,XXX a by due copy by lower delivery home compared a single to were The and or net declined single revenue revenue $XXX,XXX partially by primarily declined increases. or declines delivery Home net X.X% volumes, and last offset year. copy to XX.X%, rate
year. million $XXX,XXX of Digital-only XX.X% quarter, an subscription or $X.X increase second revenue the was for last over
pricing multiyear this a by subscription volume and is strategy. encouraged know in growth but are We the digital
small decline services of XXXX. direct decreased Morning the The second XX.X% The was Other million eliminating $X $X.X to provided revenue at to the Dallas News's clients. business that due primarily printing print quarter million to business its or for brokered News
focus These of reduced on changes, we a XX we customers serve, business major print than year, this local of quarter and X. from are improvement. to margin matching more commercial our for first expectations the few the to In number resizing customers national the
$XX.X The was Dallas News of second for expense the XXXX for Morning Operating million.
for gain the compared year. operating $X.X last million of QX $XX.X of to the reduction the or former $XX.X sale Excluding million headquarters, X% million, expense a was
headcount which new last revenue operating employee expense the operating in of X%, a total million $XX.X standard, on amortization, compensation was expense a asset million compared resulting in represents second and from assets year. depreciation, operating adjusted or expense, and severance of a Adjusted This to QX for and benefit for newsprint expense. quarter. XXX impairments, a decrease due decrease to the of adjust improvement gain reduction is of expense, expense, $X.X sale in decrease This
quarter for income $XXX,XXX compared net of of News The operating of $X.X quarter decline a loss second Dallas of was $X.X Morning the year. in to million the second Adjusted XXXX, when in the last million
Turning now Belo Company. to +
to Company For million, compared + of Belo Company or XX.X% revenue to the or compared was increase increase million, of the of second reported QX Belo services. Company quarter, Creative, to revenue quarter $X.X of total + related acquired + $XXX,XXX complements of increase $X.X XX.X%, last year. $X.X expense in which of recently The was Cubic an million an Operating agency suite Belo second expense our XXXX.
operating + of Adjusted XXXX increase quarter for income a the decline additional operating from $XXX,XXX, Company was of Adjusted to $XXX,XXX the to Belo XXXX Cubic in expense for second quarter, $X.X of to or last second year. due $XXX,XXX XX.X% Creative. compared million was an expenses compared
now Turning A. metrics. H. to financial Belo
headcount year. XX.X% was last June from of XXth decrease June a XXth, XXX of XXX, or of As
As the of June Company approximately $XX had of debt. cash no XXXX, million and XX,
cash equivalents. in As of July XXth, approximately million the Company and had $XX cash
be We the the of for second expect The in approximately XX,XXX shares $X.X XXXX. program $XXX,XXX. repurchase approximately quarter resulted Company remainder of share expenditures repurchases in million for to capital
the of $XXX,XXX expense related XXXX former recorded million tax of million in Company regard which The The sale approximately not pension income, plans, years. for taxes and to With margin our we of headquarters several with pretax the expect for XXX% contribution the have generated second net quarter any $X.X will do a to to be have carryforwards. of Texas do operating XXXX. is tax. not in $XX.X XXXX offset loss Cash
of second about are provides with fall, committee encouraging decision-making a digital the objective and creation the that operating the results and the continue subscription this to be structure launched future Company's quarter optimistic Board in platform momentum to management Overall, Arc the single prosecutes.
So, Lisa, commentary. we Robert Decherd has before turn to some questions, additional
