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DallasNews Corporation (DALN-5.39%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total net operating revenue of $125.4 million, a decrease from $139.7 million in the prior year. The decline is attributed to reduced advertising and marketing services revenue, which fell by 18.9% to $47.9 million.
Circulation revenue remained relatively stable with a slight decrease to $64.9 million from $65.3 million the previous year. This was due to a decline in print subscriptions partially offset by an increase in digital subscriptions.
Printing, distribution, and other revenue decreased by 17.7% to $12.6 million, primarily due to declines in commercial printing and distribution services.
Operating costs and expenses decreased by 10.4% to $132.4 million, reflecting reductions in employee compensation and benefits, other production costs, and newsprint expenses.
The company reported an operating loss of $7.1 million, an improvement from the $8.1 million loss reported in the previous year. Other income, net, increased to $2.2 million, largely due to net periodic pension benefits.
DallasNews recorded a net income of $131,000, compared to a net loss of $7.1 million in 2023. The improvement was influenced by a $4.9 million income tax benefit due to the partial release of a valuation allowance.
The company announced the sale of its Plano printing facility for $43.5 million, with plans to lease the facility until a new printing facility becomes operational in 2025. The sale is expected to result in significant annual expense savings.
DallasNews continues to focus on expanding its digital platforms and agency services through its full-service agency, Medium Giant, as it navigates the ongoing decline in print media revenue.
The company has suspended dividend payments and terminated its stock repurchase program to preserve cash for strategic investments and operational needs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DallasNews Corporation annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.