Dex Media, recently merged with SuperMedia reports Q1 earnings
The local advertising company Dex Media today reported first quarter earnings, a report that incorporated its acquisition of SuperMedia. As a result, Dex Media showed a 58.3 percent gain in revenue, though it also reported a 39 percent increase in losses for the quarter.
“Our first quarter results underscore our commitment to drive top-line sales and provide value for our investors,” said Peter McDonald, president and CEO of Dex Media. “With continued focus on cost control, digital product innovation and a great client experience, we believe we can build on this momentum into the future.”
Last week Dex Media was able to announce the completion of its merger with SuperMedia. Both of company’s “pre-packaged” reorganizations became effective following confirmation of the plans by the United States Bankruptcy Court on April 29.
“This combination establishes Dex Media as a powerful marketing services company with digital revenue approaching $500 million and a near national footprint,” said Alan Schultz, chairman of the board of directors of Dex Media. “The company plans to leverage its strong free cash flow generation, expense synergies and tax assets to build on its offline foundation to offer effective marketing solutions and reduce debt.”