Dex Media reports it was able to reduce net debt by $106.M in Q1, improves margins
DALLAS, Texas — May 2, 2017 — Dex Media Holdings, Inc., one of the largest national providers of local business automation software, today announced financial results for first quarter 2017.
- Generated EBITDA and EBITDA margin growth over Q1 2016
- Reduced Net Debt by $106.9 million in the quarter
- With the above payments, our outstanding Net Debt stands at only $333.0 million, a 41% reduction since August 1, 2016
Additionally, Dex Media announced an increase in the ABL facility by $50.0 million to $200.0 million on April 21 by adding CIT Bank, N.A. to the facility.
“We began the year with a strong performance for the quarter. We are making steady progress in creating a lean operationally efficient company,” said Joe Walsh, Dex Media CEO and president.