Good release and and by morning, second Kevin. and Officer you, Thank everyone, Belo H. conference President Chief Corporation; I of Chairman, well We announcing A. issued quarter Moise, you welcome call. and of of am Morning who Decherd, News, all second joined Publisher we Belo’s The H. afternoon, Robert Grant are families A. and Executive President XXXX hope and are quarter Dallas a Yesterday press available our for Q&A. to results. safe. your XXXX
We specified, performance quarter XXXX have the otherwise comparison under views website performance. on against second measures release posted XXXX on today’s our quarter Unless Investor Relations section. call this second
forward-looking discussion will Our include statements. today
this and obligation subject statements cause company results to are Forward-looking statements. update materially risks, to assumes required the except actual to The factors could those in as from otherwise communication, differ by no law. that other uncertainties information
about useful investors information comparisons reconciliation believe and press in SEC. our the the with include with is these to information GAAP measures discussion of detailed performance non-GAAP releases will our filings release. available financial provide non-GAAP financial is Today’s to measures. included publicly that non-GAAP in company’s We A determining measure supplemental assist press factors to Additional peers. financial
second provides net have our added services generated We total fully XXXX gain growth $XX.X second reminder, XXXX, a XXX visibility its this concerning per the share. as a marketing tax-free headquarters advertising net we single Belo operating As loss diluted generating A. details of H. digital circulation revenue company and are year, and reporting Young and share. company million. $X.XX per sold In into revenue. of million, reported strategy. $XX.X In or reported segment which of part quarter or second digital operating the believe Street, print last and quarter $X.XX a revenue, is $X.X quarter of the income of former the million at as
offset For was gain tax purposes, the net operating operating with losses.
million quarter to the revenue was of compared $X.X million total second $XX.X reported the when $XX.X the million, quarter decrease $XX.X or million of of $X.X recorded XXXX. In to XX.X%, for For a decline digital second Approximately GAAP XXXX, the second of year-over-year relates million, and services advertising $X.X services revenue marketing revenue and XXXX, of decrease marketing of of we advertising XXXX. a this year. revenue. to of quarter relationship million cars.com the in Morning Digital revenue year. million quarter an second in million in of $X of from quarter $XXX,XXX of the the is XX.X% Approximately of of this or $X decline the circulation reported last or was attributable XX.X% $X.X last News year, to compared September second million second termination with affiliate the increase quarter the Dallas The
when one As paid subscribers. increase XX.X% compared XXXX the second stated, last is to of The ended our of We to digital-only previously the quarter with highest of XX,XXX paid of digital number grow XX,XXX an quarter second News’ subscriptions, the of year. or priorities
quarter revenue and display of summary million a last our digital $XX.X due year. Relations advertising to reported revenue The Print Investor declines posted decrease by quarter have the all million in classified on or advertising was categories. website, decrease We and when is for same to of million the the our $X.X compared year for XX.X% period on page. second XXXX, subscriptions $X.X a of
million, price is of for to XX% of was year. prior of revenue compared to of the by This offset second the decrease sales second million, quarter reported quarter copy the XXXX $X.X trends the revenue. XXXX the general a the or to circulation $XX.X single second in compared commercial our addition printing decrease in a and impacted significantly subscriptions, pandemic adversely publishing increases. advertising COVID-XX revenue. XXXX. of $X.X million Print delivery This In is industry, the Other decline $X.X print home the in quarter decrease impacting in company’s million was $XXX,XXX the result to declines revenue due
last million, quarter Second operating to expense was GAAP second total XXXX, of million quarter increase compared the or $XX.X of $XX.X an XX% of year.
million newsprint of $X.X amortization, $XX.X $X.X adjusted gain $X.X services the last and expense, last due depreciation, to this a asset quarter million The standard, which Excluding of in reported year consulting of $X.X of sale expense improvement engagement. in this $XX.X improvement income of management loss million. $X.X the in year, improvement in second $X.X million revenue. for employee was approximately is compares expense for expense, impairment and in from a operating second of newsprint marketing of in result second is for headcount, of or the in $XXX,XXX million management decrease quarter total was year spending, is and operating year-over-year decline adjusts Adjusted compensation last adjusted operating primarily the adjusted in $X.X million operating significant advertising operating a $XX.X headquarters a $XX.X quarter expense, distribution discretionary services second the reductions of and revenue of million expense year of The of and operating result second QX continued expense, decrease million, benefit of disposals XX.X%. an severance year, outside $XX.X the the million of in the million, incurred in year last of from savings, the quarter operating former for This improved the in expense to company’s primarily million XXXX. quarter million expense, expense. Adjusted the
June June As or of was XXX of of decrease XX, XXX, headcount year. last a XX.X% XX from
cash XX, had company no equivalents the cash As $XX.X approximately of of and debt. June million and
this plans, the not do do have have expect July company in At contribution cash approximately contributions we pension time, next year. a As regard not any equivalents. we and company’s the to XX, With mandatory of had million mandatory $XX this year. cash to
On the of impact be COVID-XX in quarter of to year we margin Texas that this the current across-the-board on the could operations, April of X related of second conditions. of XXXX, and cash announced XXXX impacted to depending on $XXX,XXX company in tax. tax individual The an we then of employee’s XX%, to company However, X% by uncertainty approximately due the pay and taxes level. recorded market be reduction between compensation $XXX,XXX expect an expense
second as year the versus financial in performance and hope able of be conditions will or to part first improved, half reductions restore plan will who reductions. effective less compensation XX in the this April. for half of of Based to visibility the was had August salaries Our we compensation XXXX, or of late prior on that made we all our base $XX,XXX economic restore base employees the for
are financial This has everyone While the focus is facing, all momentum we Robert. and presented work hard momentum of our result I pleased company’s with of is employees. in of challenges that we over to the growth turn the performance now call seeing revenue a strategy. in are this year digital will our
