2013 Q1 Form 10-Q Financial Statement

#000141389813000022 Filed on April 30, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $66.11M $89.85M
YoY Change -26.43% -19.9%
Cost Of Revenue $8.500M $14.00M
YoY Change -39.29% -3.45%
Gross Profit $57.60M $90.90M
YoY Change -36.63% -6.96%
Gross Profit Margin 87.13% 101.17%
Selling, General & Admin $58.50M $86.70M
YoY Change -32.53% -9.78%
% of Gross Profit 101.56% 95.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.936M $8.423M
YoY Change -29.53% 11.08%
% of Gross Profit 10.31% 9.27%
Operating Expenses $62.50M $95.10M
YoY Change -34.28% -9.43%
Operating Profit -$4.854M -$1.834M
YoY Change 164.67% -75.11%
Interest Expense $411.0K $136.0K
YoY Change 202.21% -34.3%
% of Operating Profit
Other Income/Expense, Net $34.00K $771.0K
YoY Change -95.59% -27.26%
Pretax Income -$5.458M -$3.491M
YoY Change 56.34% -44.65%
Income Tax $436.0K $402.0K
% Of Pretax Income
Net Earnings -$8.022M -$3.893M
YoY Change 106.06% -42.13%
Net Earnings / Revenue -12.14% -4.33%
Basic Earnings Per Share -$0.37 -$0.18
Diluted Earnings Per Share -$0.37 -$0.18
COMMON SHARES
Basic Shares Outstanding 22.03M shares 21.69M shares
Diluted Shares Outstanding 22.03M shares 21.69M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.90M $55.70M
YoY Change -42.73% 7.95%
Cash & Equivalents $31.86M $55.70M
Short-Term Investments
Other Short-Term Assets $9.600M $13.10M
YoY Change -26.72% -32.12%
Inventory $9.838M $11.30M
Prepaid Expenses
Receivables $40.08M $37.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $91.36M $117.4M
YoY Change -22.18% -8.21%
LONG-TERM ASSETS
Property, Plant & Equipment $140.3M $158.0M
YoY Change -11.19% -7.39%
Goodwill $24.58M
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.255M $6.500M
YoY Change -3.77% -61.54%
Other Assets $3.561M $4.800M
YoY Change -25.81% -25.0%
Total Long-Term Assets $187.4M $209.5M
YoY Change -10.56% -12.49%
TOTAL ASSETS
Total Short-Term Assets $91.36M $117.4M
Total Long-Term Assets $187.4M $209.5M
Total Assets $278.8M $326.9M
YoY Change -14.73% -11.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.06M $13.70M
YoY Change 2.59% -23.89%
Accrued Expenses $23.00M $25.60M
YoY Change -10.16% -12.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $58.71M $63.50M
YoY Change -7.54% -11.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.497M $146.3M
YoY Change -98.29% 44.42%
Total Long-Term Liabilities $2.497M $146.3M
YoY Change -98.29% 44.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.71M $63.50M
Total Long-Term Liabilities $2.497M $146.3M
Total Liabilities $61.21M $209.8M
YoY Change -70.83% 21.06%
SHAREHOLDERS EQUITY
Retained Earnings -$329.3M
YoY Change
Common Stock $496.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $947.0K
YoY Change
Treasury Stock Shares
Shareholders Equity $93.01M $117.1M
YoY Change
Total Liabilities & Shareholders Equity $278.8M $326.9M
YoY Change -14.73% -11.0%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income -$8.022M -$3.893M
YoY Change 106.06% -42.13%
Depreciation, Depletion And Amortization $5.936M $8.423M
YoY Change -29.53% 11.08%
Cash From Operating Activities $933.0K $754.0K
YoY Change 23.74% -102.22%
INVESTING ACTIVITIES
Capital Expenditures $1.362M $1.777M
YoY Change -23.35% 16.14%
Acquisitions
YoY Change
Other Investing Activities $160.0K $540.0K
YoY Change -70.37% -25.0%
Cash From Investing Activities -$1.201M -$1.240M
YoY Change -3.15% 53.09%
FINANCING ACTIVITIES
Cash Dividend Paid $1.367M $1.357M
YoY Change 0.74%
Common Stock Issuance & Retirement, Net $597.0K $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.964M -$1.253M
YoY Change 56.74%
NET CHANGE
Cash From Operating Activities $933.0K $754.0K
Cash From Investing Activities -$1.201M -$1.240M
Cash From Financing Activities -$1.964M -$1.253M
Net Change In Cash -$2.232M -$1.739M
YoY Change 28.35% -94.99%
FREE CASH FLOW
Cash From Operating Activities $933.0K $754.0K
Capital Expenditures $1.362M $1.777M
Free Cash Flow -$429.0K -$1.023M
YoY Change -58.06% -97.11%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;">Contingencies</font><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">A number of legal proceedings are pending against A.&#160;H.&#160;Belo. In the opinion of management, liabilities, if any, arising from these legal proceedings would not have a material adverse effect on A.&#160;H.&#160;Belo&#8217;s results of operations, liquidity or financial condition.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the first quarter of 2013, the Company entered into a non-binding letter of intent with the County of Riverside, California to sell the administrative offices used by </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">The</font><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Press-Enterprise</font><font style="font-family:inherit;font-size:10pt;">. The letter of intent contemplates the transaction to close during the third quarter of 2013. The building will remain classified in property, plant and equipment until a binding agreement is executed.</font></div></div>
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PaymentsForRepurchaseOfCommonStock
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CY2012Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1357000 USD
CY2013Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1367000 USD
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1777000 USD
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1369000 USD
CY2013Q1 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
2917000 USD
CY2012Q4 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
2919000 USD
CY2013Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2013Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
7190000 USD
CY2013Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
8133000 USD
CY2012Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
537000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
168000 USD
CY2013Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2012Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
104000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
-8076000 USD
CY2012Q1 us-gaap Profit Loss
ProfitLoss
-3893000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
622203000 USD
CY2013Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
623126000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
144609000 USD
CY2013Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
140322000 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-329251000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-319862000 USD
CY2013Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
99272000 USD
CY2012Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
104834000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
267443 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.30
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
715559 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
811618 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.97
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.58
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.88
CY2013Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P2Y11M11D
CY2013Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
CY2012Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
CY2013Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
795000 USD
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
748000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
363502 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
6.24
CY2008Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
8000000 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1206376 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
17.88
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
9304 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
20.38
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1206376 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1215680 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.90
CY2012Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2012Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
104000 USD
CY2013Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000 shares
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
93007000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
102005000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
93091000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
102060000 USD
CY2012Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
117108000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
121479000 USD
CY2013Q1 ahc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Redemption In Common Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodRedemptionInCommonStock
218085 shares
CY2013Q1 dei Amendment Flag
AmendmentFlag
false
CY2013Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2012Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
13000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
101000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
93000 USD
CY2013Q1 us-gaap Subscription Revenue
SubscriptionRevenue
32144000 USD
CY2012Q1 us-gaap Subscription Revenue
SubscriptionRevenue
34655000 USD
CY2013Q1 us-gaap Tax Credit Carryforward Expiration Date
TaxCreditCarryforwardExpirationDate
2016-12-31
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
350000 USD
CY2013Q1 us-gaap Treasury Stock Value
TreasuryStockValue
947000 USD
CY2013Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
597000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
324000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
321000 USD
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22032803 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21687986 shares
CY2012Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21687986 shares
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22032803 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22032803 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21687986 shares
CY2013Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
401000 USD
CY2012Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
CY2013Q1 ahc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Cash Paid At Closing Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodCashPaidAtClosingPrice
777000 USD
CY2013Q1 ahc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Redeemed In Cash
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodRedeemedInCash
145417 shares
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001413898
CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
22058692 shares
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
A. H. Belo Corp

Files In Submission

Name View Source Status
0001413898-13-000022-index-headers.html Edgar Link pending
0001413898-13-000022-index.html Edgar Link pending
0001413898-13-000022.txt Edgar Link pending
0001413898-13-000022-xbrl.zip Edgar Link pending
a10-q2013q1.htm Edgar Link pending
ahc-20130331.xml Edgar Link completed
ahc-20130331.xsd Edgar Link pending
ahc-20130331_cal.xml Edgar Link unprocessable
ahc-20130331_def.xml Edgar Link unprocessable
ahc-20130331_lab.xml Edgar Link unprocessable
ahc-20130331_pre.xml Edgar Link unprocessable
ahclogomedia2.jpg Edgar Link pending
ahclogoname.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
masterex311.htm Edgar Link pending
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report.css Edgar Link pending
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