DALLAS, February 16, 2017 – CORRECTION…by Dex Media, Inc.
(BUSINESS WIRE)– Second paragraph, first sentence of release dated February 14, 2017, should read “Key highlights for full year 2016” (instead of “Key highlights for fourth quarter 2016”). Supplemental PDF added to release.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170214006525/en/
The corrected release reads:
DEX MEDIA ANNOUNCES FOURTH QUARTER AND FULL YEAR 2016 FINANCIAL RESULTS
Dex Media, Inc., one of the largest national providers of local business automation software, today announced financial results for the fourth quarter and year ended December 31, 2016.
Key highlights for full year 2016:
- Over-delivered on EBITDA guidance by $13.0 million
- Generated $400 million of digital revenue, while shifting the mix to strategically important digital solutions with strong customer retention
- Continued to drive costs out of the business
“Local business automation is by far our fastest growing segment. We’re seeing improving results from our revamped directories, both print and online,” said Joe Walsh, Dex Media CEO and president. “We are successfully reducing search engine marketing’s share of our revenues and we’re becoming a focused, lean company, delivering operational excellence.”
- All figures presented are unaudited. Material changes may result from audit procedures.
- Revenue for Q4 and Full Year 2016 are on a pro forma basis as a result of fresh start accounting.
- Adjusted EBITDA reflects operating revenues and expenses, excluding the impact of depreciation, amortization, interest expense and other non-cash/non-recurring items. These results are for periods ending July 31, 2016 and prior. Adjusted Pro Forma EBITDA reflects operating revenues and expenses, excluding the impact of depreciation, amortization, interest expense and other non-cash/non-recurring items, plus pro forma adjustments associated with fresh start accounting. August through December results include these pro forma adjustments.
- Free Cash Flow reflects cash generated from operating activities, less capital expenditures, interest payments, and capital restructuring and reorganization costs.
Earnings Conference Call Information
Dex Media will host an investor conference call at 10 a.m. CST on March 2, 2017. Individuals within the United States can access the conference call by dialing (888) 603-6873. International participants should dial 973-582-2706. The pass code is: 70276679.
Basis of Presentation and Non-GAAP Financial Measures
The financial information accompanying this release provides a reconciliation of GAAP to non-GAAP and adjusted pro forma non-GAAP results. Dex Media believes that the use of non-GAAP financial measures provides useful information to investors to gain an overall understanding of its current financial performance. Specifically, Dex Media believes the non-GAAP results provide useful information to management and investors by excluding certain nonrecurring items that Dex Media believes are not indicative of its core operating results. In addition, non-GAAP financial measures are used by management for budgeting and forecasting as well as subsequently measuring Dex Media’s performance, and Dex Media believes that non-GAAP results provide investors with financial measures that most closely align to its internal financial measurement processes.
About Dex Media
Dex Media helps local businesses win and retain their customers, delivering measurable, lasting results. As the business management resource for hundreds of thousands of local businesses across the U.S., Dex helps business owners manage their customer relationships, internet presence, bookings, analytics and more from a single mobile platform. Dex provides critical expertise and support so business owners have a trusted, expert advisor just a click or phone call away. The company’s widely used consumer services include the DexKnows.com® and Superpages.com® search portals, mobile applications, as well as local print directories. To learn how Dex can help automate and streamline your business, please visit www.DexMedia.com.
Some statements included in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Statements that include the words “may,” “will,” “could,” “should,” “would,” “believe,” “anticipate,” “forecast,” “estimate,” “expect,” “preliminary,” “intend,” “plan,” “project,” “outlook” and similar statements of a future or forward-looking nature identify forward-looking statements. You should not place undue reliance on these statements, as they are not guarantees of future performance. Forward-looking statements provide current expectations with respect to our financial performance and future events with respect to our business and industry in general. Forward-looking statements are based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to, the risks related to the following: the Company’s ability to maintain adequate liquidity to fund operations; the Company’s future operating and financial performance; limitations on our operating and strategic flexibility and the ability to operate our business, finance our capital needs or expand business strategies under the terms of our credit facilities; our ability to retain existing business and obtain and retain new business; general economic or business conditions affecting the markets we serve; declining use of print yellow page directories by consumers; our ability to collect trade receivables from clients to whom we extend credit; credit risk associated with our reliance on small and medium sized businesses as clients; our ability to attract and retain key managers; increased competition in our markets; our ability to implement our business transformation program as planned; our ability to realize the anticipated benefits in the amounts and at the times expected from the business transformation program; our ability to obtain future financing due to changes in the lending markets or our financial position; our ability to maintain agreements with major Internet search and local media companies; reduced advertising spending and increased contract cancellations by our clients, which causes reduced revenue; our ability to anticipate or respond effectively to changes in technology and consumer preferences; and our ability to emerge from bankruptcy as a sustainable, viable business. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such cautionary statements.
If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. These forward-looking statements speak only as of the date hereof and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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