Dex Media (the combination of Supermedia and Dex One) announced its first quarterly earnings since completing its merger. As you can see from the numbers below, print revenues declined 22% but digital revenue was able to offset those loses by roughly 6%.
Here are some verbatim excerpts from the earnings call transcript:
For the second quarter, Dex Media reported pro forma combined operating revenue of $568 million, a 17% decline for the quarter compared to the same period last year. Adjusted expenses were $344 million, and adjusted pro forma EBITDA was $224 million for the quarter. For year-to-date, pro forma combined revenue was $1.149 billion, a 17.4% decline compared to the same period in the prior year.
Recurring revenue, on a dollar basis, for our clients has been in the 70% to 80% range, which indicates [clients] are receiving value and getting results from our products and solutions. This year, we have seen stronger recurring revenue among clients who purchased bundles last year . . . Our new business is in the 3% to 5% range . . .
In sales, we have a very dedicated and quality team focused on our clients and their needs. We continue to build strong relationships as we retain our clients in the 80% to 85% range.
Over the next 2 quarters, our teams will be devoting much of their attention to the markets that we’ll be launching in Q1 of next year. We have the people. We have quality products and solutions. We are increasing our focus on recruiting and training, and we look to implement more segmentation going forward. With initiatives like text marketing, our mobile solution that allows businesses to target their message by category and geography, we like the opportunities ahead.
Local businesses want a single point of contact in this complex digital marketing world, and that is what we do best.