(Updated, May 4)
PROVIDENCE – A.H. Belo Corp. said it continued in the red, with a loss of $6.73 million in the first quarter, as compared to a loss of $9.13 million in the first quarter 2010.
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A.H. Belo publishes The Providence Journal, The Dallas Morning News, The Press-Enterprise (of Riverside, Calif.), and the Denton Record-Chronicle in Texas, as well as websites, niche publications and commercial printing operations.
The Providence Journal will begin its “subscriber content strategy” or online paywall in the second half 2011, A.H. Belo said in a presentation to investors on Tuesday. The Press-Enterprise will roll out an online paywall in early 2012.
The local newspaper’s total average circulation was about 92,000 for Monday through Friday, it added.
A.H. Belo also reported circulation numbers for its other newspapers. The Dallas Morning News and the Denton Record-Chronicle in Texas had approximately 405,000 in total average circulation during the week while The Press-Enterprise had about 122,000.
Advertising revenue declines were greatest at The Providence Journal and smallest at The Dallas Morning News.
Printing and distribution revenue increases in Providence and Riverside fueled an overall 15 percent revenue jump to $9.2 million.
A.H. Belo also reinstated a quarterly cash dividend of 6 cents per diluted share, payable June 3, approved by the board after the company amended its revolving credit facility; dividends are now permitted without restriction as long as there is no balance outstanding on the line of credit, it said.
Revenue decreased to $112.18 million in the three months ended March 31 from $115.76 million a year earlier.
Updated with information from A.H. Belo’s presentation to investors.
