The following is a summary of the DallasNews Corporation (DALN) Q1 2024 Earnings Call Transcript:
Financial Performance:
DallasNews Corporation reported a Q1 net loss of $1.4 million or $0.25 per share, an improvement from a net loss of $2.6 million reported in Q1 2023.
An operating loss of $1.8 million in Q1 2024, improved from an operating loss of $2.8 million in Q1 2023.
Total Q1 2024 revenue was $31.1 million compared to $35.2 million last year, influenced by a decrease in print advertising revenue.
There was a mild increase in circulation revenue by $300,000, including a significant increase in digital-only subscription revenue by $900,000 or 25.2%.
Business Progress:
Despite a decline in the count of digital-only subscribers by 9.6%, the increase in digital-only subscription revenue suggests successful balancing between volume and price in their business strategy.
DallasNews Corporation indicates plans to shift its print operations to a smaller facility by 2025, expected to save around $5 million in annual operating expenses.
Monetizing the North Plant property is part of the financial improvement strategy planned by DallasNews Corporation.
Addition of the position of Public Editor to their team represents company's attempt to build a stronger bond with their readership base.
More details: DallasNews IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.