A H Belo Corporation (AHC), a leading local news and information publishing company, has posted an 18.61 times surge in profit for the quarter ended Jun. 30, 2014, helped by gain on equity method investments. The company earned $21.98 million or $0.95 a share in the second-quarter compared with $1.18 million or $0.05 a share a year ago.

Revenue during the second-quarter went up marginally 0.20 percent to $69.26 million from $69.12 million in the last year period.

Total expenses as a percentage of revenues decreased to 96.52 percent from 97.98 percent in the same period last year. That has resulted in improvement of 145 basis points in operating margins to 3.48 percent.

The company disclosed operating income of $2.41 million, compared with $1.40 million in the last year period.

Jim Moroney, chairman, president and chief executive officer, said, "Our second quarter 2014 operating performance reflects the company's success in leveraging our core competencies in order to diversify and grow revenue streams, while continuing to focus on managing expenses."

"For the first time since the spin-off from our former parent company in 2008, total revenue reflected year-over-year quarterly growth, an outstanding accomplishment for the Company. This improvement was driven by continued growth in marketing services revenue and increased printing revenues."

Cash Position

As on Jun. 30, 2014, the company's cash balance stood at $59.75 million, up 81.89 percent or $26.90 million from Jun. 30, 2013.

Working Capital

A H Belo Corp has witnessed an increase in the working capital over the last one year. The company's working capital stood at $93.92 million as at Jun. 30, 2014, up $36.40 million or 63.28 percent from $57.52 million on Jun. 30, 2013. It registered an increase in current ratio to 2.89 as at Jun. 30, 2014 from 2.02 on Jun. 30, 2013.

Shares of the company rose $0.11 or 0.99 percent to close at $11.21 on Monday.