The Dolan Co., the Minneapolis-based publisher of business newspapers across the country, reported a second quarter loss but also higher revenues.
The company lost $140.4 million, or $2.39 per share, during the quarter, primarily due to charges from discontinued operations. Its operating loss for the quarter was $24.7 million.
In the same quarter a year ago, Dolan reported net income of $11.2 million, or 16 cents per share.
Revenue for the quarter rose 13.5 percent to $47.5 million.
In the division that operates the business newspapers, revenues for the second quarter of 2013 were $16.6 million, a 9.5 percent decrease from $18.3 million in the second quarter of 2012. The majority of the decrease was driven by lower public notice revenues.
Direct operating expenses for the division were $6.1 million during the second quarter of 2013, a 6.4 percent decline compared to $6.5 million last year. In addition, SG&A expenses of $7.4 million were 6.0 percent lower than last year.
Dolan’s papers include the Idaho Business Review, the Mississippi Business Journal, the Daily Journal of Commerce in Portland, Ore., and The Daily Record in Baltimore.
