DallasNews Corporation reported a net loss of $33.5 million, or $(6.26) per share, for the second quarter of 2025, compared to net income of $1.5 million, or $0.27 per share, in Q2 2024. This net loss was primarily due to a one-time non-cash pension settlement charge of $35.3 million resulting from the annuitization of the Company's pension plans.
Despite the pension charge, the Company's operating income for the second quarter improved to $1.3 million from $0.6 million in Q2 2024. Adjusted operating income, a non-GAAP measure, increased by $0.4 million, or 36.7 percent, to $1.6 million, driven by expense savings in employee compensation and benefits, outside services, and the transition to a smaller printing facility.
Total revenue for the second quarter was $29.8 million, a decrease of $2.3 million or 7.2 percent compared to Q2 2024, primarily due to declines in print advertising and circulation, and the cancellation of a mailed advertisements partnership. As of June 30, 2025, the Company had $33.7 million in cash and cash equivalents and no debt. The previously announced merger with Hearst, at $15.00 per share, is still expected to close in the third or early fourth quarter of 2025.
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