Belo Q2 Profit Down - Quick Facts

(RTTNews) - Television company Belo Corp.'s (BLC) net earnings attributable to the company slid to $21.9 million, from $25.9 million a year ago. Earnings per share dropped to $0.21 in the quarter, from $0.24 in the 2012 second quarter.

The recent quarter includes costs, net of tax, associated with the company's prior announced and pending merger with Gannett Co., Inc. of $2.7 million, or $0.03 per share, including an increase in share-based compensation expense on the increase in the firm's stock price after the merger announcement, according to Belo Corp.

Net operating revenues were $174 million, 2.3 percent lower than the prior year's $177.62 million, as Belo cycled against political revenue, which was $8.3 million less than the second quarter of 2012. Total revenue, excluding political, in the period was 2.5 percent higher year-over-year.

On average, 3 analysts polled by Thomson Reuters expected earnings per share of $0.21, on $174.56 million revenues for the quarter. Analysts' estimates typically exclude one-time items.