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A. H. Belo Corporation (NYSE: AHC) has received notice from the NYSE regarding non-compliance with continued listing standards due to low market capitalization and shareholders’ equity. As of October 28, 2020, AHC's average market capitalization fell below $50 million over a 30 trading-day period, and its shareholders’ equity was reported at $49.8 million. The company has 45 days to submit a compliance plan to the NYSE, aiming to restore compliance within 18 months.
A. H. Belo Corporation (NYSE: AHC) reported a net loss of $0.1 million for Q3 2020, improving from a net loss of $4.0 million in Q3 2019. Revenue totaled $37.7 million, down 12.3% from the previous year, with advertising and marketing revenues down 19.2%. Circulation revenue fell 4.2%, though digital-only subscriptions rose 34.5%. Total operating expenses decreased by 19.7% to $40.2 million. The company holds $43.2 million in cash with no debt. CEO Robert W. Decherd highlighted ongoing challenges from the pandemic but noted improvements in operational management.
A. H. Belo Corporation (NYSE: AHC) announced it will release its third quarter 2020 financial results before the market opens on October 27, 2020. A conference call is scheduled for the same day at 9:00 a.m. CDT, which will be webcast live on the company's website. The replay of the call will be available until November 2, 2020. A. H. Belo is recognized as a leading local news and information publishing company in Texas, with expanding operations in emerging media and digital marketing.
Dolphin Limited Partnership III, L.P. has requested A. H. Belo Corporation's board to consider strategic alternatives, including a going-private transaction. They propose a special dividend of $1.06 per share, totaling $22.8 million, and highlight concerns regarding AHC’s recurring cash operating expenses of $184 million and a projected $8 million cash decline for 2020. Despite valuable assets, Dolphin III argues that AHC should pursue deeper cost reductions and cease acquisitions to enhance profitability.
A. H. Belo Corporation (NYSE: AHC) reported a net loss of $3.4 million, or $(0.16) per share, for Q2 2020, compared to a net income of $16.5 million, or $0.77 per share, in the prior year. Total revenue decreased by 24.8% to $35.4 million, with advertising revenue down by 38.4%. Operating expenses rose by 64% to $39.8 million. However, adjusted operating expenses showed an improvement of 22.4%. CEO Robert W. Decherd indicated cautious optimism regarding revenue recovery in the latter half of 2020. As of June 30, 2020, the company had $42.3 million in cash and no debt.
A. H. Belo Corporation (NYSE: AHC) announced it will release its second quarter 2020 financial results on July 28, 2020, before market openings. A conference call is scheduled for the same day at 9:00 a.m. CDT, which will also be webcast live via the company's website. Investors can access a replay of the call starting 12:00 p.m. CDT on July 28 until August 3, 2020. A. H. Belo is recognized as the leading local news and information publisher in Texas, with diverse capabilities in media platforms and marketing.
A. H. Belo Corporation (NYSE: AHC) announced a quarterly cash dividend of $0.04 per share on June 2, 2020. This dividend will be payable on September 4, 2020 to shareholders of record at the close of business on August 14, 2020.
A. H. Belo is a leading local news and information publisher in Texas, with capabilities in commercial printing, distribution, direct mail, and digital marketing.