Feb. 18--Dallas-based newspaper company A.H. Belo Corporation lost $33.1 million in the fourth quarter, the company said Tuesday, its fourth consecutive quarterly loss since becoming an independent company in early 2008.

"2008 was a year full of change and challenges for the newspaper industry, driven by the economic environment not seen in modern times," said Robert W. Decherd, A.H. Belo's chairman, president and chief executive.

A.H. Belo, which owns The Dallas Morning News and three other daily newspapers, lost $1.62 per share in the last three months of 2008 as advertising revenue continued to drop. Excluding special charges, the loss would have been 62 cents a share. Those charges related to layoffs, a write-down at The Press-Enterprise in Riverside, Calif., and a noncash pension obligation. A comparable year-ago figure was not available.

Total revenue fell 15 percent, which newspaper analyst John Morton said was "in line with what other companies are doing."

Advertising revenue fell 22 percent. Circulation revenue rose 12 percent, due mainly to higher prices for The News. Internet revenue was $11.1 million, 16 percent lower than in the same period in 2007.

A.H. Belo's stock price fell 11 cents to $1.81 a share. Shares have dropped 86 percent since the newspaper company was spun off from broadcast company Belo Corp. in February 2008.

A.H. Belo's annual loss in 2008 was $62.3 million. Revenue fell to $637.3 million, a decline of more than $101 million, or 14 percent.

The company lowered ongoing cash operating expenses by $45 million in 2008 compared with 2007 despite significant increases in newsprint expense, Decherd said. This year, he recently announced plans to lay off 500 more employees and take additional cost-cutting measures.

In addition to The News and The Press-Enterprise, A.H. Belo owns The Providence Journal in Rhode Island and the Denton Record-Chronicle.

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