Wed, May 15, 8:53 PM (72 days ago)
DallasNews Corporation reported a net loss of $1,363 for Q1 2024, an improvement from a $2,626 loss in Q1 2023. Total net operating revenue declined by 11.6% to $31,102, driven by a 23.9% drop in advertising and marketing services revenue and an 18.7% decrease in printing, distribution, and other revenue. Circulation revenue increased slightly by 1.8%, with digital circulation up by 25.2%, offsetting a 5.0% decline in print circulation. Operating costs and expenses fell by 13.4% to $32,858, attributed to reductions in employee compensation, distribution costs, and newsprint expenses. Cash and cash equivalents decreased to $7,946 from $11,697 at year-end 2023. The company holds $10,478 in short-term investments. DallasNews plans to streamline printing operations, expecting annual expense savings of approximately $5,000 post-transition in early 2025.