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DallasNews Corporation Announces Fourth Quarter and Full Year 2024 Financial Results
DALNDallasNews (DALN) GlobeNewswire·2025-03-17 21:31

Core Insights - The sale of a printing facility for 43.5millionhasresolvedlegacypensionliabilitiesandimprovedthefinancialpositionandflexibilityofthecompany[1]−Thetransitiontoasmallerandmoreefficientprintinganddistributionfacilityisexpectedtoenhancedigitalinvestmentsandjournalismquality,movingthecompanyclosertosustainableprofitability[2]FinancialPerformance−ForQ42024,thecompanyreportedanetincomeof43.5 million has resolved legacy pension liabilities and improved the financial position and flexibility of the company [1] - The transition to a smaller and more efficient printing and distribution facility is expected to enhance digital investments and journalism quality, moving the company closer to sustainable profitability [2] Financial Performance - For Q4 2024, the company reported a net income of 4.0 million, or 0.74pershare,comparedtoanetlossof0.74 per share, compared to a net loss of 2.2 million, or (0.41)pershareinQ42023[2][4]−ThetotalrevenueforQ42024was(0.41) per share in Q4 2023 [2][4] - The total revenue for Q4 2024 was 31.1 million, a decrease of 2.9millionor8.52.9 million or 8.5% from Q4 2023 [7] - The full year 2024 net income was 0.1 million, or 0.02pershare,withanoperatinglossof0.02 per share, with an operating loss of 7.1 million, including severance expenses of 2.8million[4][5]RevenueBreakdown−AdvertisingandmarketingservicesrevenueforQ42024was2.8 million [4][5] Revenue Breakdown - Advertising and marketing services revenue for Q4 2024 was 11.5 million, down 10.3% from 12.8millioninQ42023,primarilyduetoa16.612.8 million in Q4 2023, primarily due to a 16.6% reduction in print advertising revenue [8] - Circulation revenue for Q4 2024 was 16.3 million, a decrease of 4.7% compared to Q4 2023, largely due to a decline in print circulation revenue [9] - Total revenue for the full year 2024 was 125.4million,adecreaseof10.2125.4 million, a decrease of 10.2% from 2023 [12] Expense Management - Total consolidated operating expenses for Q4 2024 were 32.8 million, an improvement of 9.9% compared to Q4 2023 [11] - For the full year 2024, total operating expenses were 132.4million,adecreaseof10.4132.4 million, a decrease of 10.4% from 2023, driven by savings in distribution and employee compensation [16][17] Employee and Cash Position - As of December 31, 2024, the company had 526 employees, a decrease of 75 or 12.5% from the previous year [18] - Cash and cash equivalents stood at 9.6 million, with no debt reported [18] Segment Information - The company operates two reportable segments: TDMN, which generates revenue from subscriptions and advertising, and Agency, which provides full-service advertising [19][20]