DallasNews Corporation Announces Fourth Quarter and Full Year 2024 Financial Results

Core Insights - The sale of a printing facility for $43.5 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 $0.74 per share, compared to a net loss of $2.2 million, or $(0.41) per share in Q4 2023 [2][4] - The total revenue for Q4 2024 was $31.1 million, a decrease of $2.9 million or 8.5% from Q4 2023 [7] - The full year 2024 net income was $0.1 million, or $0.02 per share, with an operating loss of $7.1 million, including severance expenses of $2.8 million [4][5] Revenue Breakdown - Advertising and marketing services revenue for Q4 2024 was $11.5 million, down 10.3% from $12.8 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 $125.4 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 $132.4 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]