Newspaper publishing firm A. H. Belo Corp. (AHC) Monday reported a profit in the third quarter, compared to a loss last year, helped by a credit of $2.5 million.
Net income attributable to the company was $1.48 million or $0.06 per share compared to a loss of $135 thousand or $0.01 per share last year.
The latest results include a credit of $2.5 million for a consent judgment related to past tax assessments of real estate by the City of Providence.
Total revenue slipped 1 percent to $108.9 million from $110 million in the previous year.
Total operating costs and expenses fell to $107.41 million from $110.27 million amid lower expenses for Salaries, wages and employee benefits as well as Other production, distribution and operating costs.
Robert Decherd, CEO, said, "Third quarter total revenue decreased 1 percent compared to the prior year quarter. This rate of decline is the lowest since our spin-off from Belo Corp. in 2008 and was driven by advertising revenue performance at The Dallas Morning News and increased printing and distribution revenues in Providence and Riverside.''
The company still expects full-year 2012 adjusted EBITDA of $37 to $41 million.
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