DallasNews (DALN) - 2024 Q4 - Annual Results

Financial Performance - For Q4 2024, DallasNews Corporation reported a net income of $4.0 million, or$ 0.74 per share, compared to a net loss of $2.2 million, or$ (0.41) per share in Q4 2023[2]. - Total revenue for Q4 2024 was $31.1 million, a decrease of$ 2.9 million or 8.5% compared to Q4 2023[7]. - For the full year 2024, total revenue was $125.4 million, a decrease of$ 14.3 million or 10.2% compared to 2023[12]. - The company reported a full year net income of $0.1 million, or$ 0.02 per share, compared to a net loss of $7.1 million, or$ (1.33) per share in 2023[4]. - Adjusted operating loss for the full year 2024 was $1.6 million, an improvement of$ 1.1 million compared to an adjusted operating loss of $2.7 million in 2023[5]. - The operating loss for Q4 2024 was$ 1,752,000, an improvement from a loss of $2,480,000 in Q4 2023[36]. - Net income for Q4 2024 was$ 3,971,000, compared to a net loss of $2,207,000 in Q4 2023[32]. - Basic and diluted earnings per share for Q4 2024 were both$ 0.74, compared to a loss of $0.41 per share in Q4 2023[32]. Revenue Breakdown - Advertising and marketing services revenue in Q4 2024 was$ 11.5 million, down $1.3 million or 10.3% from$ 12.8 million in Q4 2023, primarily due to a 16.6% reduction in print advertising revenue[8]. - Total net operating revenue for Q4 2024 was $31,088,000, a decrease of 8.4% from$ 33,983,000 in Q4 2023[32]. - Advertising and marketing services revenue decreased to $11,493,000 in Q4 2024 from$ 12,807,000 in Q4 2023, representing a decline of 10.3%[34]. - Circulation revenue also declined slightly to $16,348,000 in Q4 2024 from$ 17,148,000 in Q4 2023, a decrease of 4.7%[34]. Cost Management - The company achieved expense savings of $6.5 million in distribution and$ 5.5 million in employee compensation and benefits for the full year 2024[6]. - Total operating costs and expenses for Q4 2024 were $32,840,000, down from$ 36,463,000 in Q4 2023, a reduction of 9.0%[37]. Balance Sheet - As of December 31, 2024, the company had cash and cash equivalents of $9.6 million and no debt[19]. - Total assets as of December 31, 2024, were$ 61,843,000, a slight decrease from $62,234,000 in 2023[33]. - Total liabilities decreased to$ 55,030,000 in 2024 from $59,276,000 in 2023, a reduction of 7.4%[33]. - Total shareholders' equity increased significantly to$ 6,813,000 in 2024 from $2,958,000 in 2023[33]. Workforce Changes - The company experienced a headcount reduction of 75 employees, or 12.5%, compared to the previous year[19]. Segment Performance - DallasNews Corporation's Medium Giant segment has shown significant improvement in profit margins, contributing positively to the company's overall financial position[2].