ah belo corp-a (AHC) Key Developments
A. H. Belo Corporation Appoints Katy Murray as Senior Vice President/Chief Financial Officer, Treasurer and Assistant Secretary Effective April 1, 2015
Mar 23 15
A. H. Belo Corporation announced that its Board of Directors has appointed Katy Murray as Senior Vice President/Chief Financial Officer, Treasurer and Assistant Secretary of the company effective April 1, 2015. She will become the company's principal financial officer beginning with the second quarter of 2015. Prior to joining A. H. Belo, Ms. Murray served as the Chief Financial Officer of SourceHOV from November 2011 to April 2013, and was responsible for the worldwide finance, accounting, and facility operations of that company.
A. H. Belo Corporation Announces Management Changes
Mar 5 15
In accordance with the amended and restated bylaws of A. H. Belo Corporation, Director Dealey D. Herndon, having reached the mandatory retirement age of 68, will retire from the Board of Directors of A. H. Belo Corporation at the expiration of her current term immediately following the company's 2015 annual meeting of shareholders on May 14, 2015 and will not stand for re-election as a Director. On March 5, 2015, the Board appointed Michael N. Lavey as principal financial officer of the company, effective immediately and to serve until the vacant chief financial officer position is filled and a replacement is named. Mr. Lavey, has served as vice president/Controller (and principal accounting officer) of the company since January 2010.
A. H. Belo Corporation Announces Second Quarter 2015 Dividend, Payable on June 5, 2015
Mar 5 15
A. H. Belo Corporation announced that the company's Board of Directors declared a regular quarterly cash dividend of $0.08 per share, payable on June 5, 2015 to shareholders of record at the close of business on May 15, 2015.
A. H. Belo Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
Feb 27 15
A. H. Belo Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total net operating revenue of $73,212,000 compared to $73,481,000 a year ago. Operating loss was $6,949,000 compared to operating income of $4,845,000 a year ago. Income from continuing operations before income taxes was $71,380,000 compared to $5,376,000 a year ago. Net income attributable to the company was $56,542,000 or $2.50 per diluted share compared to $17,639,000 or $0.77 per diluted share a year ago. Adjusted EBITDA from continuing operations was $6,311,000 compared to $8,765,000 a year ago. Fourth quarter earnings growth was due to a $77.1 million gain on the company's divestiture of its investment in Classified Ventures, partially offset by a $7.6 million non-cash charge related to the amortization of actuarial losses in conjunction with pension settlements. Net income from continuing operations of $3.07 per fully diluted share in the fourth quarter of 2014 compared to net income from continuing operations of $0.23 per share in the fourth quarter of 2013. Capital expenditures were approximately $3.3 million in the fourth quarter.
For the year, the company reported total net operating revenue of $272,788,000 compared to $276,183,000 a year ago. Operating loss was $7,686,000 compared to operating income of $1,222,000 a year ago. Income from continuing operations before income taxes was $91,985,000 compared to $3,376,000 a year ago. Net income attributable to the company was $92,929,000 or $4.13 per diluted share compared to $16,119,000 or $0.71 per diluted share a year ago. Adjusted EBITDA from continuing operations was $16,988,000 compared to $18,669,000 a year ago. Net income from continuing operations of $3.82 per fully diluted share compared to net income from continuing operations of $0.07 per share in 2013. Capital expenditures were $7.8 million for the full year 2014.
A. H. Belo Mulls Acquisitions
Feb 27 15
A. H. Belo Corporation (NYSE:AHC) is looking for acquisitions. Jim Moroney, Chairman, President and Chief Executive Officer said, “We will continue to explore further investment and acquisition opportunities that expand our suite of marketing products and further diversifies our sources of revenue. In evaluating acquisition, our primary focus is directed at marketing companies with established financial performance and strong management teams. We look for companies for which we can leverage our sales force, our marketing resources, our existing customer relationships, and our brand equity, in order to provide these companies a competitive advantage in the marketplace and thereby increase the trajectory of the revenue growth”. He also said,” I'm very excited about the three companies that we bought, that were co-founded by Tim Storer, Chief Executive Officer of Distribion And Vertical Nerve And Marketing FX. And we're looking for other, similar kinds of acquisitions in terms of the magnitude of the acquisition.”