After reporting widening losses in Q4, Dallas broadcaster Belo (NYSE: BLC) posted a slight profit of $8.9 million ($0.09 per share), versus last year’s $0.11 per share loss. That return to profitability had a great deal to do with the fact that Belo did not have any costs related to the company’s spin-off into a broadcast side and a newspaper publisher, which is known as AH Belo (NYSE: AHC) and trades separately. Still, the company’s debt stands at $1.078 billion, though it was able to reduce that amount by $15 million since the the start of the year. In the meantime, the recession pounded away at revenues, as total revenue fell 23.6 percent to $133 million. Ad revenue from to Belo’s broadcast-related websites decreased 5.4 percent to $6.5 million, which represents 5 percent of total revs. Belo President Dunia A. Shive (pictured, right) said the online revenues for Q2 are trending flat so far, while the rest of this quarter resembles Q1 fairly closely.

Earnings release | Webcast 2:00 PM EDT