There are several things you don’t want to hear the words “widened” in relation to. These include, but are not limited to, your thighs, that “mysterious rash” on your belly, and first-quarter results. Which leads us to more bad news from the Dallas Morning News‘ parent company. To me, the worst part of the WSJ excerpt below: the decline in Internet revenues.
The publisher posted a loss of $103.1 million, or $5.03 a share, compared with a year-earlier loss of $8.7 million, or 43 cents a share. Excluding write-downs and restructuring costs, the loss would have been 91 cents a share.
Revenue decreased 20% to $128.5 million as advertising revenue slumped 28%, worse than the fourth-quarter’s 22% decline. Internet revenue — seen by publishers as a way to offset the print-ad decline — fell 24%, while circulation revenue rose 9% on increased prices in Dallas and Providence.
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