Financial Performance - For Q1 2025, DallasNews Corporation reported net income of $28.3 million, or $5.28 per share, compared to a net loss of $1.4 million, or $(0.25) per share, in Q1 2024[1]. - Total revenue for Q1 2025 was $29.1 million, a decrease of $2.0 million or 6.4% compared to Q1 2024[5]. - Operating income for the three months ended March 31, 2025, was $34,208,000, compared to a loss of $1,756,000 in 2024, indicating a significant turnaround[26]. - Total segment profit for the three months ended March 31, 2025, was $4,004,000, down from $4,848,000 in 2024, a decrease of 17.43%[26]. - Adjusted operating loss for the three months ended March 31, 2025, was $(1,197,000), compared to $(780,000) in 2024, reflecting a worsening of 53.21%[27]. Revenue Breakdown - Advertising and marketing services revenue was $10.8 million, down $0.8 million or 7.2% from $11.6 million in Q1 2024, primarily due to a 12.2% decline in print advertising revenue[6]. - Circulation revenue decreased to $15.4 million, down $0.9 million or 5.2% from $16.3 million in Q1 2024, mainly due to a 6.0% drop in print circulation revenue[7]. - Digital advertising revenue for TDMN was $1,891,000 in 2025, slightly down from $1,958,000 in 2024, a decrease of 3.42%[25]. - Print advertising revenue decreased to $4,949,000 in 2025 from $5,639,000 in 2024, a decline of 12.24%[25]. Operating Expenses - Total consolidated operating expense improved by $1.7 million or 5.3% compared to Q1 2024, excluding the gain from the printing facility sale[9]. - Total operating costs and expenses for the three months ended March 31, 2025, were $30,322,000, compared to $31,882,000 in 2024, a reduction of 4.88%[27]. - Employee compensation and benefits for TDMN decreased to $10,006,000 in 2025 from $10,593,000 in 2024, a reduction of 5.54%[26]. Asset Management - As of March 31, 2025, DallasNews had cash and cash equivalents of $44.2 million and no debt, reflecting a strong balance sheet[11]. - The company fully funded its pension liabilities and transitioned them to an insurance carrier through an annuity purchase agreement, relieving it of all future pension obligations[12]. Strategic Initiatives - The company plans to evaluate investment opportunities in digital growth and return capital to shareholders over the next 90 days[1]. - The Agency segment's operating margin improved by $600,000 year-over-year, indicating positive operational performance[3]. - The company recorded a net gain of $36.2 million from the sale of the Plano printing facility, which significantly impacted operating income[3].
DallasNews (DALN) - 2025 Q1 - Quarterly Results