DallasNews Corporation Announces Fourth Quarter and Full Year 2024 Financial Results
DallasNews (DALN) reported its Q4 and full-year 2024 financial results, marking a significant transition year with the sale of its $43.5 million printing facility. The company posted Q4 2024 net income of $4.0 million ($0.74 per share), including a $5.3 million non-cash tax benefit, compared to a net loss of $2.2 million in Q4 2023.
For full-year 2024, DALN reported net income of $0.1 million ($0.02 per share) versus a net loss of $7.1 million in 2023. Total revenue was $125.4 million, down 10.2% year-over-year. Digital-only subscription revenue increased 11.7%, while print circulation declined 4.8%. The company ended 2024 with $9.6 million in cash, no debt, and 526 employees (12.5% decrease from 2023).
The company's transition to a 90% smaller printing facility aims to improve efficiency and invest in digital assets. DALN has also regained compliance with Nasdaq's minimum stockholders' equity requirement, reporting $6.8 million in shareholders' equity as of December 31, 2024.
DallasNews (DALN) ha riportato i risultati finanziari del Q4 e dell'intero anno 2024, segnando un anno di transizione significativo con la vendita della sua struttura di stampa da 43,5 milioni di dollari. L'azienda ha registrato un reddito netto nel Q4 2024 di 4,0 milioni di dollari (0,74 dollari per azione), inclusi 5,3 milioni di dollari di benefici fiscali non monetari, rispetto a una perdita netta di 2,2 milioni di dollari nel Q4 2023.
Per l'intero anno 2024, DALN ha riportato un reddito netto di 0,1 milioni di dollari (0,02 dollari per azione) rispetto a una perdita netta di 7,1 milioni di dollari nel 2023. Il fatturato totale è stato di 125,4 milioni di dollari, in calo del 10,2% rispetto all'anno precedente. I ricavi da abbonamenti digitali sono aumentati dell'11,7%, mentre la circolazione della stampa è diminuita del 4,8%. L'azienda ha chiuso il 2024 con 9,6 milioni di dollari in contante, senza debiti e 526 dipendenti (un decremento del 12,5% rispetto al 2023).
La transizione dell'azienda verso una struttura di stampa ridotta del 90% mira a migliorare l'efficienza e investire in beni digitali. DALN ha anche riacquistato la conformità con il requisito minimo di patrimonio netto degli azionisti di Nasdaq, riportando 6,8 milioni di dollari di patrimonio netto al 31 dicembre 2024.
DallasNews (DALN) reportó sus resultados financieros del Q4 y del año completo 2024, marcando un año de transición significativo con la venta de su instalación de impresión de 43.5 millones de dólares. La compañía registró un ingreso neto de 4.0 millones de dólares (0.74 dólares por acción) en el Q4 2024, incluyendo un beneficio fiscal no monetario de 5.3 millones de dólares, en comparación con una pérdida neta de 2.2 millones de dólares en el Q4 2023.
Para el año completo 2024, DALN reportó un ingreso neto de 0.1 millones de dólares (0.02 dólares por acción) frente a una pérdida neta de 7.1 millones de dólares en 2023. Los ingresos totales fueron de 125.4 millones de dólares, una disminución del 10.2% interanual. Los ingresos por suscripciones solo digitales aumentaron un 11.7%, mientras que la circulación impresa disminuyó un 4.8%. La compañía cerró 2024 con 9.6 millones de dólares en efectivo, sin deudas y 526 empleados (una disminución del 12.5% en comparación con 2023).
La transición de la empresa a una instalación de impresión un 90% más pequeña tiene como objetivo mejorar la eficiencia e invertir en activos digitales. DALN también ha recuperado el cumplimiento con el requisito mínimo de patrimonio de accionistas de Nasdaq, reportando 6.8 millones de dólares en patrimonio de accionistas al 31 de diciembre de 2024.
달라스뉴스 (DALN)는 2024년 4분기 및 연간 재무 결과를 보고하며, 4,350만 달러 규모의 인쇄 시설 매각을 통해 중요한 전환점을 맞이했습니다. 이 회사는 2024년 4분기 순이익으로 400만 달러(주당 0.74달러)를 기록했으며, 여기에는 530만 달러의 비현금 세금 혜택이 포함되어 있습니다. 이는 2023년 4분기 순손실 220만 달러와 비교됩니다.
2024년 전체 연도에 대해 DALN은 순이익 10만 달러(주당 0.02달러)를 보고했으며, 이는 2023년의 순손실 710만 달러와 대조됩니다. 총 수익은 1억 2,540만 달러로, 전년 대비 10.2% 감소했습니다. 디지털 전용 구독 수익은 11.7% 증가했으며, 인쇄 유통은 4.8% 감소했습니다. 이 회사는 2024년을 현금 960만 달러, 부채 없음, 526명의 직원(2023년 대비 12.5% 감소)으로 마감했습니다.
회사의 90% 규모가 축소된 인쇄 시설로의 전환은 효율성을 개선하고 디지털 자산에 투자하기 위한 것입니다. DALN은 또한 2024년 12월 31일 기준으로 680만 달러의 주주 자본을 보고하며 나스닥의 최소 주주 자본 요건을 준수하게 되었습니다.
DallasNews (DALN) a annoncé ses résultats financiers du Q4 et de l'année complète 2024, marquant une année de transition significative avec la vente de son installation d'impression de 43,5 millions de dollars. L'entreprise a affiché un revenu net de 4,0 millions de dollars (0,74 dollar par action) pour le Q4 2024, incluant un avantage fiscal non monétaire de 5,3 millions de dollars, comparé à une perte nette de 2,2 millions de dollars pour le Q4 2023.
Pour l'année complète 2024, DALN a rapporté un revenu net de 0,1 million de dollars (0,02 dollar par action) contre une perte nette de 7,1 millions de dollars en 2023. Le chiffre d'affaires total s'est élevé à 125,4 millions de dollars, en baisse de 10,2 % par rapport à l'année précédente. Les revenus des abonnements numériques uniquement ont augmenté de 11,7 %, tandis que la circulation imprimée a diminué de 4,8 %. L'entreprise a terminé 2024 avec 9,6 millions de dollars en liquidités, sans dettes et 526 employés (une baisse de 12,5 % par rapport à 2023).
La transition de l'entreprise vers une installation d'impression réduite de 90 % vise à améliorer l'efficacité et à investir dans des actifs numériques. DALN a également retrouvé sa conformité avec l'exigence minimum de capitaux propres des actionnaires de Nasdaq, rapportant 6,8 millions de dollars de capitaux propres au 31 décembre 2024.
DallasNews (DALN) hat seine Finanzzahlen für das 4. Quartal und das gesamte Jahr 2024 veröffentlicht, was ein bedeutendes Übergangsjahr mit dem Verkauf seiner Druckerei im Wert von 43,5 Millionen Dollar markiert. Das Unternehmen verzeichnete im 4. Quartal 2024 einen Nettogewinn von 4,0 Millionen Dollar (0,74 Dollar pro Aktie), einschließlich eines nicht monetären Steuerbenefits von 5,3 Millionen Dollar, im Vergleich zu einem Nettoverlust von 2,2 Millionen Dollar im 4. Quartal 2023.
Für das gesamte Jahr 2024 meldete DALN einen Nettogewinn von 0,1 Millionen Dollar (0,02 Dollar pro Aktie) im Vergleich zu einem Nettoverlust von 7,1 Millionen Dollar im Jahr 2023. Der Gesamtumsatz betrug 125,4 Millionen Dollar, was einem Rückgang von 10,2 % im Jahresvergleich entspricht. Die Einnahmen aus digitalen Abonnements stiegen um 11,7 %, während die Druckauflage um 4,8 % zurückging. Das Unternehmen schloss das Jahr 2024 mit 9,6 Millionen Dollar in bar, ohne Schulden und 526 Mitarbeitern (ein Rückgang von 12,5 % im Vergleich zu 2023) ab.
Der Übergang des Unternehmens zu einer um 90 % verkleinerten Druckerei zielt darauf ab, die Effizienz zu steigern und in digitale Vermögenswerte zu investieren. DALN hat auch die Einhaltung der Mindestanforderung an das Eigenkapital der Aktionäre von Nasdaq wiedererlangt und meldete zum 31. Dezember 2024 ein Eigenkapital von 6,8 Millionen Dollar.
- Sale of printing facility for $43.5 million strengthens financial position
- Digital-only subscription revenue grew 11.7% in 2024
- Marketing and media services revenue improved 6.5%
- Return to profitability with $0.1 million net income in 2024 vs. $7.1 million loss in 2023
- Regained Nasdaq compliance with $6.8 million in shareholders' equity
- No debt and $9.6 million cash position
- Total revenue declined 10.2% to $125.4 million in 2024
- Print advertising revenue decreased 5.7%
- Print circulation revenue declined 4.8%
- Operating loss of $7.1 million for full-year 2024
- 12.5% reduction in workforce
- Commercial printing partnership canceled
Insights
DallasNews 's Q4 and full-year 2024 results demonstrate a strategic transformation in progress, with improved bottom-line performance despite ongoing revenue challenges. The company posted Q4 net income of $4.0 million ($0.74 per share) compared to a $2.2 million loss in Q4 2023, though this improvement was largely driven by a $5.3 million non-cash tax benefit from the sale of its printing facility.
The $43.5 million facility sale represents a pivotal transaction that resolved legacy pension liabilities while generating capital for digital investments. This strategic rightsizing - moving to a facility 90% smaller - should meaningfully improve operational efficiency over time.
Core revenue challenges persist across all segments: advertising/marketing services declined 10.3% in Q4, circulation fell 4.7%, and printing/distribution dropped 19.4%. For the full year, total revenue decreased 10.2% to $125.4 million. The silver lining is digital-only subscription revenue, which grew 11.7% for the year.
From an operational perspective, the company has made substantial progress reducing expenses, with full-year adjusted operating expense improving 10.8% to $127.0 million. With $9.6 million cash and zero debt, the balance sheet remains solid, and the company has regained Nasdaq compliance with shareholders' equity of $6.8 million.
This transformation exemplifies the challenging pivot traditional media companies must execute - shrinking legacy operations while developing digital capabilities. The trajectory suggests operational improvement, though sustainable growth remains contingent on accelerating digital revenue to offset print declines.
The restructuring underway at DallasNews reflects the existential challenge facing local news organizations nationwide - how to maintain quality journalism while fundamentally transforming business operations. The 90% facility reduction and associated headcount reductions (down 12.5% in 2024 with more cuts coming in 2025) represent difficult but necessary decisions to align cost structure with current market realities.
What's particularly significant is management's explicit commitment to reinvest proceeds from the printing facility sale into both digital assets and journalism. CEO Grant Moise directly connected operational changes to investing in the newsroom, highlighting investigative projects on toll roads and preventable bleeding deaths as examples of the company's journalistic impact.
The digital transformation is showing early signs of traction with 11.7% growth in digital-only subscriptions, though this represents a relatively modest revenue stream compared to traditional sources. Medium Giant, the company's advertising agency, appears to be delivering improved profitability, potentially offering diversification beyond core publishing operations.
The company's adjusted operating loss improvement ($1.6 million in 2024 versus $2.7 million in 2023) indicates progress toward sustainable operations, though revenue declines across all major categories remain concerning. The strategic decision to exit shared mail programs and discontinue print-only niche publications shows management's willingness to make tough choices to focus resources on core products.
This earnings report demonstrates both the painful realities facing legacy newspaper companies and a potentially viable path forward through strategic asset monetization, operational right-sizing, and targeted digital investments.
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DALLAS, March 17, 2025 (GLOBE NEWSWIRE) -- DallasNews Corporation (Nasdaq: DALN) (the “Company”), the Dallas-based holding company of The Dallas Morning News and Medium Giant, today reported financial results for the fourth quarter and full year 2024.
Grant Moise, Chief Executive Officer, said, “2024 was a significant year for the Company as we began the transition of our printing and distribution facility to one that is 90 percent smaller and significantly more efficient. This change provides the Company with a source of funds to invest back into our digital assets, while simultaneously moving us closer to sustainable profitability. These operational changes, also allow us to invest in our journalism, which is the heartbeat of our business. In 2024, our newsroom published ambitious projects ranging from Texas’ excessive use of toll roads to an investigative series about why tens of thousands of Americans die from preventable bleeding each year. Last, but not least, Medium Giant’s bottom line contribution to the Company has improved significantly, and we look forward to continued improvement in its profit margin.”
For the fourth quarter of 2024, the Company reported net income of
For the fourth quarter of 2024, on a non-GAAP basis, DallasNews reported an operating loss adjusted for certain items (“adjusted operating income (loss)”) of
For the full year 2024, the Company reported net income of
For the full year 2024, on a non-GAAP basis, the Company reported an adjusted operating loss of
The improvement is primarily due to expense savings of
Fourth Quarter Results
Total revenue was
Revenue from advertising and marketing services, including print and digital revenues, was
Circulation revenue was
Printing, distribution and other revenue was
Total consolidated operating expense in the fourth quarter of 2024, on a GAAP basis, was
On a non-GAAP basis, adjusted operating expense was
Full Year Results
Total revenue was
Revenue from advertising and marketing services, including print and digital revenues, was
Circulation revenue was
Printing, distribution and other revenue decreased
Total consolidated operating expense for the full year 2024, on a GAAP basis, was
On a non-GAAP basis, adjusted operating expense was
As of December 31, 2024, the Company had 526 employees, a headcount decrease of 75 or 12.5 percent when compared to the prior year period, not including employees departing in 2025 when the transition to the new printing facility is complete. Cash and cash equivalents were
Segment Information
The Company determined it has the following two reportable segments:
- TDMN primarily generates revenue from subscriptions and retail sales of The Dallas Morning News, and sales of advertising within its newspaper and on related digital platforms by Medium Giant’s cross-functional sales team.
- Agency generates revenue from the services offered by the Company’s full-service advertising agency, Medium Giant.
The primary measure of segment profitability utilized by the Chief Operating Decision Maker (“CODM”) is segment profit (loss), which excludes Corporate and Other costs that are not associated with the ongoing operations of the segments. Reconciliation of segment profit (loss) to consolidated operating loss, and disaggregated revenue by reportable segment and revenue source are included in the exhibits to this release.
Update on Nasdaq Compliance
The Company has reported shareholders’ equity of
Non-GAAP Financial Measures
The CODM uses adjusted operating income (loss) for the purposes of evaluating consolidated performance and allocating resources.
Reconciliations of operating loss to adjusted operating income (loss) and total operating costs and expense to adjusted operating expense are included in the exhibits to this release.
The Company calculates adjusted operating income (loss) by adjusting operating loss to exclude depreciation, severance expense, (gain) loss on sale/disposal of assets, and asset impairments (“adjusted operating income (loss)”). The Company believes that inclusion of certain noncash expenses and other items in the results makes for more difficult comparisons between years and with peer group companies.
Adjusted operating income (loss) is not a measure of financial performance under generally accepted accounting principles (“GAAP”). Management uses adjusted operating income (loss) and similar measures in internal analyses as supplemental measures of the Company’s financial performance, and for performance comparisons versus its peer group of companies. Management uses this non-GAAP financial measure for the purposes of evaluating consolidated Company performance. The Company therefore believes that the non-GAAP measure presented provides useful information to investors by allowing them to view the Company’s business through the eyes of management and the Board of Directors, facilitating comparison of results across historical periods and providing a focus on the underlying ongoing operating performance of its business. Adjusted operating income (loss) should not be considered in isolation or as a substitute for net income (loss), cash flows provided by (used for) operating activities or other comparable measures prepared in accordance with GAAP. Additionally, this non-GAAP measure may not be comparable to similarly-titled measures of other companies.
Financial Results Conference Call
DallasNews Corporation will conduct a conference call on Tuesday, March 18, 2025, at 9:00 a.m. CDT to discuss financial results. The conference call will be available via webcast by accessing the Company’s website at investor.dallasnewscorporation.com/events. An archive of the webcast will be available at dallasnewscorporation.com in the Investor Relations section.
To access the conference call, dial 1-800-715-9871 and provide the following access code when prompted: 4679948. A replay line will be available at 1-800-770-2030 until 11:59 p.m. CDT on April 1, 2025. The access code for the replay is 4679948#.
About DallasNews Corporation
DallasNews Corporation is the Dallas-based holding company of The Dallas Morning News and Medium Giant.
The Dallas Morning News, Texas’ leading daily newspaper, is renowned for its excellent journalistic reputation, intense regional focus, and close community ties. As a testament to its commitment to quality journalism, the publication has been honored with nine Pulitzer Prizes.
Medium Giant, an integrated creative marketing agency with offices in Dallas and Tulsa, works with a roster of premium brands and companies. In 2024, the agency earned top industry recognition, winning an AAF Addy and the AMA DFW Annual Marketer of the Year Award for Campaign of the Year, along with six prestigious Davey Awards. Medium Giant is a wholly owned business of DallasNews Corporation. For additional information, visit mediumgiant.co.
Statements in this communication concerning the Company’s planned transition of print operations; expense savings related to the transition, the Company’s business outlook or future economic performance, revenues, expenses, cash balance, investments, business initiatives, working capital, dividends, future financings, and other financial and non-financial items that are not historical facts are “forward-looking statements” as the term is defined under applicable federal securities laws. Words such as “anticipate,” “assume,” “believe,” “can,” “could,” “estimate,” “forecast,” “intend,” “expect,” “may,” “project,” “plan,” “seek,” “should,” “target,” “will,” “would” and their opposites and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements. Such risks, trends and uncertainties are, in most instances, beyond the Company’s control, and include changes in advertising demand and other economic conditions; the timeline for transitioning print operations; consumers’ tastes; newsprint and distribution prices; program costs; the Company’s ability to successfully execute the Return to Growth Plan; the Company’s ability to maintain compliance with the continued listing requirements of The Nasdaq Capital Market; the success of the Company’s digital strategy; labor relations; cybersecurity incidents; and technological obsolescence. Among other risks, there can be no guarantee that the Company’s board of directors will approve a quarterly dividend in the future or that the Company’s financial projections are accurate, as well as other risks described in the Company’s Annual Report on Form 10-K and in the Company’s other public disclosures and filings with the Securities and Exchange Commission. Forward-looking statements, which are as of the date of this communication, are not updated to reflect events or circumstances after the date of the statement.
Contact:
Katy Murray
214-977-8869
KMurray@dallasnews.com
DallasNews Corporation and Subsidiaries
Consolidated Statements of Operations
Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||
In thousands, except share and per share amounts (unaudited) | 2024 | 2023 | 2024 | 2023 | |||||||||||
Net Operating Revenue: | |||||||||||||||
Advertising and marketing services | $ | 11,493 | $ | 12,807 | $ | 47,900 | $ | 59,038 | |||||||
Circulation | 16,348 | 17,148 | 64,891 | 65,349 | |||||||||||
Printing, distribution and other | 3,247 | 4,028 | 12,600 | 15,309 | |||||||||||
Total net operating revenue | 31,088 | 33,983 | 125,391 | 139,696 | |||||||||||
Operating Costs and Expense: | |||||||||||||||
Employee compensation and benefits | 15,020 | 18,271 | 63,923 | 69,445 | |||||||||||
Other production, distribution and operating costs | 16,060 | 15,909 | 61,663 | 68,008 | |||||||||||
Newsprint, ink and other supplies | 1,369 | 1,881 | 5,256 | 8,793 | |||||||||||
Depreciation | 391 | 402 | 1,607 | 1,520 | |||||||||||
Total operating costs and expense | 32,840 | 36,463 | 132,449 | 147,766 | |||||||||||
Operating loss | (1,752 | ) | (2,480 | ) | (7,058 | ) | (8,070 | ) | |||||||
Other income, net | 445 | 340 | 2,233 | 1,422 | |||||||||||
Loss Before Income Taxes | (1,307 | ) | (2,140 | ) | (4,825 | ) | (6,648 | ) | |||||||
Income tax provision (benefit) | (5,278 | ) | 67 | (4,956 | ) | 464 | |||||||||
Net Income (Loss) | $ | 3,971 | $ | (2,207 | ) | $ | 131 | $ | (7,112 | ) | |||||
Per Share Basis (1) | |||||||||||||||
Net income (loss) | |||||||||||||||
Basic | $ | 0.74 | $ | (0.41 | ) | $ | 0.02 | $ | (1.33 | ) | |||||
Diluted | $ | 0.74 | $ | (0.41 | ) | $ | 0.02 | $ | (1.33 | ) | |||||
Number of common shares used in the per share calculation: | |||||||||||||||
Basic | 5,352,490 | 5,352,490 | 5,352,490 | 5,352,490 | |||||||||||
Diluted | 5,352,490 | 5,352,490 | 5,352,490 | 5,352,490 |
(1) The Company’s Series A and Series B common stock equally share in the distributed and undistributed earnings. There were no options or RSUs outstanding as of December 31, 2024 and 2023, that would result in dilution of shares or the calculation of EPS under the two-class method as prescribed under ASC 260 – Earnings Per Share.
DallasNews Corporation and Subsidiaries
Consolidated Balance Sheets
December 31, | December 31, | ||||||
In thousands (unaudited) | 2024 | 2023 | |||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 9,594 | $ | 11,697 | |||
Short-term investments | — | 10,781 | |||||
Accounts receivable, net | 10,662 | 9,923 | |||||
Other current assets | 4,087 | 4,532 | |||||
Total current assets | 24,343 | 36,933 | |||||
Property, plant and equipment, net | 12,633 | 7,099 | |||||
Operating lease right-of-use assets | 17,434 | 16,141 | |||||
Deferred income taxes, net | 5,609 | 271 | |||||
Other assets | 1,824 | 1,790 | |||||
Total assets | $ | 61,843 | $ | 62,234 | |||
Liabilities and Shareholders’ Equity | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 4,808 | $ | 3,963 | |||
Accrued compensation and other current liabilities | 11,498 | 10,449 | |||||
Contract liabilities | 8,689 | 9,511 | |||||
Total current liabilities | 24,995 | 23,923 | |||||
Long-term pension liabilities | 11,764 | 17,353 | |||||
Long-term operating lease liabilities | 17,379 | 16,924 | |||||
Other liabilities | 892 | 1,076 | |||||
Total liabilities | 55,030 | 59,276 | |||||
Commitments and contingencies | |||||||
Total shareholders' equity | 6,813 | 2,958 | |||||
Total liabilities and shareholders’ equity | $ | 61,843 | $ | 62,234 |
DallasNews Corporation and Subsidiaries
Disaggregated Revenue by Reportable Segment and Revenue Source
Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||
In thousands (unaudited) | 2024 | 2023 | 2024 | 2023 | |||||||||||
TDMN | |||||||||||||||
Print advertising(1) | $ | 5,313 | $ | 6,373 | $ | 22,914 | $ | 35,045 | |||||||
Digital advertising(2) | 2,245 | 2,194 | 8,633 | 8,634 | |||||||||||
Agency | |||||||||||||||
Marketing and media services(2) | 3,935 | 4,240 | 16,353 | 15,359 | |||||||||||
Advertising and Marketing Services | $ | 11,493 | $ | 12,807 | $ | 47,900 | $ | 59,038 | |||||||
TDMN | |||||||||||||||
Print circulation | 11,852 | 12,545 | 46,671 | 49,034 | |||||||||||
Digital circulation | 4,496 | 4,603 | 18,220 | 16,315 | |||||||||||
Circulation | $ | 16,348 | $ | 17,148 | $ | 64,891 | $ | 65,349 | |||||||
TDMN | 3,247 | 4,028 | 12,600 | 14,884 | |||||||||||
Agency | — | — | — | 425 | |||||||||||
Printing, Distribution and Other | $ | 3,247 | $ | 4,028 | $ | 12,600 | $ | 15,309 | |||||||
Total Revenue | $ | 31,088 | $ | 33,983 | $ | 125,391 | $ | 139,696 |
(1) The year ended December 31, 2023, includes
(2) Prior to the segment reporting change, digital advertising, and marketing and media services revenues were reported in aggregate.
DallasNews Corporation
Reconciliation of Segment Profit (Loss) to Operating Loss
Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||
In thousands (unaudited) | 2024 | 2023 | 2024 | 2023 | |||||||||||
TDMN | |||||||||||||||
Net operating revenue | $ | 27,153 | $ | 29,743 | $ | 109,038 | $ | 123,912 | |||||||
Employee compensation and benefits | 10,520 | 11,055 | 41,682 | 46,169 | |||||||||||
Other production, distribution and operating costs | 11,702 | 11,668 | 42,746 | 50,773 | |||||||||||
Newsprint, ink and other supplies | 1,250 | 1,586 | 4,606 | 8,341 | |||||||||||
Operating costs and expense | 23,472 | 24,309 | 89,034 | 105,283 | |||||||||||
TDMN Segment Profit | $ | 3,681 | $ | 5,434 | $ | 20,004 | $ | 18,629 | |||||||
Agency | |||||||||||||||
Net operating revenue | $ | 3,935 | $ | 4,240 | $ | 16,353 | $ | 15,784 | |||||||
Employee compensation and benefits | 2,067 | 2,323 | 8,720 | 9,877 | |||||||||||
Other production, distribution and operating costs | 1,672 | 1,452 | 7,232 | 6,901 | |||||||||||
Newsprint, ink and other supplies | 119 | 295 | 650 | 452 | |||||||||||
Operating costs and expense | 3,858 | 4,070 | 16,602 | 17,230 | |||||||||||
Agency Segment Profit (Loss) | $ | 77 | $ | 170 | $ | (249 | ) | $ | (1,446 | ) | |||||
Total Segment Profit | $ | 3,758 | $ | 5,604 | $ | 19,755 | $ | 17,183 | |||||||
Reconciling items: | |||||||||||||||
Corporate and Other | (5,510 | ) | (8,084 | ) | (26,813 | ) | (25,253 | ) | |||||||
Operating Loss | $ | (1,752 | ) | $ | (2,480 | ) | $ | (7,058 | ) | $ | (8,070 | ) |
DallasNews Corporation - Non-GAAP Financial Measures
Reconciliation of Operating Loss to Adjusted Operating Income (Loss)
Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||
In thousands (unaudited) | 2024 | 2023 | 2024 | 2023 | |||||||||||
Total net operating revenue | $ | 31,088 | $ | 33,983 | $ | 125,391 | $ | 139,696 | |||||||
Total operating costs and expense | 32,840 | 36,463 | 132,449 | 147,766 | |||||||||||
Operating Loss | $ | (1,752 | ) | $ | (2,480 | ) | $ | (7,058 | ) | $ | (8,070 | ) | |||
Total operating costs and expense | $ | 32,840 | $ | 36,463 | $ | 132,449 | $ | 147,766 | |||||||
Less: | |||||||||||||||
Depreciation | 391 | 402 | 1,607 | 1,520 | |||||||||||
Severance expense | 45 | 2,673 | 3,803 | 3,834 | |||||||||||
Adjusted Operating Expense | $ | 32,404 | $ | 33,388 | $ | 127,039 | $ | 142,412 | |||||||
Total net operating revenue | $ | 31,088 | $ | 33,983 | $ | 125,391 | $ | 139,696 | |||||||
Adjusted operating expense | 32,404 | 33,388 | 127,039 | 142,412 | |||||||||||
Adjusted Operating Income (Loss) | $ | (1,316 | ) | $ | 595 | $ | (1,648 | ) | $ | (2,716 | ) |
