A. H. Belo Corporation (NYSE: AHC) today reported net income of $0.01 per share for the second quarter of 2012 compared to a net loss of $0.32 per share in the second quarter of 2011. Second quarter 2012 net income includes $1.9 million of increased depreciation on certain production and technology assets. Adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization (“EBITDA”) with pension expense added back, was $11.6 million in the second quarter of 2012, an increase of 14 percent compared to the prior year period. As of June 30, 2012, cash and cash equivalents were $41.2 million, and the Company had no borrowings under its bank credit facility. Robert W. Decherd, chairman, president and Chief Executive Officer, said, “Second quarter total revenue decreased 5 percent compared to the prior year, an improvement of almost two percentage points in the rate of decline compared to the first quarter. Year-over-year rates of decline in advertising revenue improved in Dallas and Riverside during the second quarter as well. Second quarter preprint revenue increased in Dallas compared to the prior year quarter due to strength in the food and beverage, furniture and department store categories. “While we think advertising revenue volatility may continue for the remainder of the year, we expect to achieve our prior full-year 2012 Adjusted EBITDA target of $37 million to $41 million with prudent expense management.” Second Quarter Results Total revenue was $109.1 million in the second quarter of 2012, a decrease of 5 percent compared to the prior year period. Advertising revenue, including print and digital revenues, decreased 8 percent, with the smallest percentage decrease at The Press-Enterprise followed by The Dallas Morning News and The Providence Journal. Display advertising revenue decreased 15 percent to $21.5 million, and preprint revenue decreased 1 percent to $20.3 million. Classified revenue decreased 13 percent to $13.6 million. Digital revenue increased 1 percent to $8.8 million. When the impact of a revenue allocation discontinued in 2012 is excluded, digital revenue increased 8 percent. Digital automotive revenue increased 16 percent year-over-year. In the third quarter of 2011, The Dallas Morning News discontinued the niche publication Quick. When Quick’s advertising revenue in the second quarter of 2011 is excluded, advertising revenue from ongoing niche publications increased 5 percent in the second quarter of 2012. Advertising revenue from niche publications is a component of the display, preprint, classified and digital revenue figures presented above. Circulation revenue decreased 3 percent to $33.8 million in the second quarter of 2012 compared to the prior year period as single copy sales declined in Dallas in part due to the impact of the Dallas Mavericks’ championship in 2011 . Excluding $0.9 million of circulation revenue resulting from The Providence Journal’s transition from a carrier to a distributor circulation model in 2011, total circulation revenue decreased 6 percent to $32.9 million. Printing and distribution revenue increased 15 percent to $11.2 million in the second quarter of 2012 due primarily to the impact of new contracts at The Providence Journal and The Press-Enterprise. Excluding the effect of pension expense in both periods, operating expense in the second quarter was $108.2 million, a 5 percent decrease compared to the prior year period as headcount related expenses, newsprint and advertising expenses all decreased. Second quarter severance and related expenses totaled $0.3 million.