Revenue from TV and interactive properties helped cover newspaper losses for Belo (NYSE: BLC) on Thursday, as the Dallas-based company posted a 29 percent increase in 4Q profits. Belo reported a profit of 51.3 million, or 50 cents a share, compared with a profit of $39.9 million, or 36 cents a share, year-over-year. Revenue rose to $436.6 million from $411.9 million. The company cited “outstanding performance” for its TV group, and while the newspaper division struggled to hold onto circulation amid dwindling advertising, Belo’s print properties’ decreases were helped by growing online revenues. The highlights include:
—The 19-station television group’s total and spot revenue both increased 17 percent in the quarter to $223.4 million from $191.6 million.
—Revenue from the newspaper group, which includes The Dallas Morning News and Providence Journal, dropped 3.2 percent to $213.2 million from $220.3 million a year ago, struck by a 3.6 decline in ad revenue.
—Ad revenue from the newspaper group’s websites grew 41 percent versus 4Q05.
—For the full year, Belo’s net income of $130.5 million, or $1.26 a share, compared with net income in 2005 of $127.7 million, or $1.12 a share. Revenue was up to $1.59 billion from $1.53 billion in 2005. Belo said online ad revenue from its Web sites grew 48 percent to $64 million in 2006.  Earnings release | Webcast