The following is a summary of the DallasNews Corporation (DALN) Q4 2023 Earnings Call Transcript:
Financial Performance:
DallasNews Corporation reported a net loss of $2.2 million for Q4 but has shown improvement with adjusted operating income of $600,000, up from the $1 million loss from the same period last year. This is primarily due to expenses savings of $6.7 million.
The total Q4 revenue was at $34 million with a yearly revenue of $139.7 million. Despite the decline in print advertising, digital-only subscription revenue increased by $1.2 million or 34.1%.
For the full year, there was a net loss of $7.1 million. The company would have reported a net profit had it not been for the severance expense of $3.8 million.
Business Progress:
Major savings have been achieved in Q4 due to reductions in distribution costs and employee compensation, amounting to $6.7 million.
DallasNews made strategic cost-saving decisions, discontinuing the shared mail program and print-only editions of niche publications.
The company hired Chris Patheiger as the Chief Product and Innovation Officer with a focus on expanding the product portfolio in 2024 to reach new audiences and increase revenue growth. It also highlighted its journalistic achievements from the year 2023.
More details: DallasNews IR
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