January 6, 2011
A. H. Belo Corporation Discusses Future Business, Operating and Financial Strategies at Citi Conference
DALLAS - Robert W. Decherd, chairman, president and Chief Executive Officer of newspaper publisher A. H. Belo Corporation (NYSE: AHC), discussed the Company's future business, operating and financial strategies at Citi's 21st Annual Global Entertainment, Media & Telecommunications Conference earlier today.
The presentation focused on A. H. Belo's improving financial performance and consumer-driven revenue initiatives such as the re-launch of The Dallas Morning News' flagship Web site, dallasnews.com, and digital pricing for access to The Morning News' unduplicated local content. Speaking about 2010 performance, Decherd said, " When we report fourth quarter financial results, we anticipate total revenue of approximately $130 million, a decrease of only 4 percent compared to 2009. We also anticipate full-year 2010 revenue of approximately $485 million, a decrease of only 6 percent compared to 2009. Fourth quarter capital spending should be in the $3 to $3.5 million range, bringing full-year 2010 capital spending into the $9 to $10 million range. In the fourth quarter of 2010, the Company also received a $3.1 million dividend from Classified Ventures, owner of Cars.com and Apartments.com."
Decherd continued, "While it is not our practice to provide guidance, our current thinking about 2011 is that 2010's positive momentum could continue and, together with improvements in sales force effectiveness, could result in revenue being flat year-over-year. We expect 2011 capital spending will be approximately $13 million."
In his concluding remarks, Decherd said, "While great progress has been made over the past twelve months, our Board and Management Committee know that much hard work lies ahead. We must and will remain focused on maximizing cash from operations and monetizing real estate at appropriate prices just as we did in 2010 when we generated almost $10 million of cash from real estate dispositions. By doing so, we maintain more flexibility to respond to strategic, financial and operational opportunities that arise."
The Company's full presentation is available at www.ahbelo.com/invest. A replay of the Webcast will be archived at www.ahbelo.com/invest until April 6, 2011.
About A. H. Belo Corporation
A. H. Belo Corporation (NYSE: AHC), headquartered in Dallas, Texas, is a distinguished newspaper publishing and local news and information company that owns and operates four daily newspapers and a diverse group of Web sites. A. H. Belo publishes The Dallas Morning News, Texas' leading newspaper and winner of nine Pulitzer Prizes; The Providence Journal, the oldest continuously-published daily newspaper in the U.S. and winner of four Pulitzer Prizes; The Press-Enterprise (Riverside, CA), serving southern California's Inland Empire region and winner of one Pulitzer Prize; and the Denton Record-Chronicle. The Company publishes various specialty publications targeting niche audiences, and its partnerships and/or investments include the Yahoo! Newspaper Consortium and Classified Ventures, owner of cars.com. A. H. Belo also owns direct mail and commercial printing businesses. Additional information is available at www.ahbelo.com or by contacting David A. Gross, vice president/Investor Relations and Strategic Analysis, at 214-977-4810.
Statements in this communication concerning A. H. Belo Corporation's (the "Company's") business outlook or future economic performance, anticipated profitability, revenues, expenses, dividends, capital expenditures, investments, impairments, pension plan contributions, real estate sales, future financings, and other financial and non-financial items that are not historical facts, are "forward-looking statements" as the term is defined under applicable federal securities laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements.
Such risks, uncertainties and factors include, but are not limited to, changes in capital market conditions and prospects, and other factors such as changes in advertising demand and newsprint prices; newspaper circulation trends and other circulation matters, including changes in readership methods, patterns and demography, and audits and related actions by the Audit Bureau of Circulations; challenges in achieving expense reduction goals, and on schedule, and the resulting potential effects on operations; technological changes; development of Internet commerce; industry cycles; changes in pricing or other actions by competitors and suppliers; regulatory, tax and legal changes; adoption of new accounting standards or changes in existing accounting standards by the Financial Accounting Standards Board or other accounting standard-setting bodies or authorities; the effects of Company acquisitions, dispositions, co-owned ventures, and investments; pension plan matters; general economic conditions and changes in interest rates; significant armed conflict; and other factors beyond our control, as well as other risks described in the Company's Annual Report on Form 10-K for the year ended December 31, 2009, and other public disclosures and filings with the Securities and Exchange Commission.