A. H. Belo Corporation (AHC) saw its loss narrow to $0.50 million, or $0.02 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $3.96 million, or $0.18 a share. On an adjusted basis, net profit for the quarter was $2.27 million, when compared with $2.84 million in the last year period. Revenue during the quarter dropped 3.18 percent to $64.78 million from $66.91 million in the previous year period. Gross margin for the quarter expanded 111 basis points over the previous year period to 90.25 percent. Operating margin for the quarter stood at negative 0.75 percent as compared to a negative 4.64 percent for the previous year period.
Operating loss for the quarter was $0.49 million, compared with an operating loss of $3.10 million in the previous year period.
Jim Moroney, chairman, president and Chief Executive Officer, said, “Our marketing services segment had a strong third quarter performance helping to mitigate the declines experienced in our publishing segment. Due to the positive financial results this year, along with our healthy cash balance, we feel we are well positioned operationally and financially. We look forward to delivering against our strategy for excellence in journalism, revenue diversification and profitability.”
Working capital remains almost stable
Working capital of A. H. Belo Corporation remained almost stable for the quarter at $84.42 million, when compared with the previous year period. Current ratio was at 3.30 as on Sep. 30, 2016, up from 2.99 on Sep. 30, 2015. Days sales outstanding went down to 42 days for the quarter compared with 44 days for the same period last year.
At the same time, days payable outstanding went up to 179 days for the quarter from 166 for the same period last year.
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