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http://wraltechwire.com/dex-one-eyes-bankruptcy-to-save-proposed-supermedia-merger/11699184/
By WRAL Tech Wire
CARY, N.C. — Dex One and SuperMedia are considering bankruptcy as a means of pushing forward with their proposed merger, according to a filing made with the SEC.
Dex One (NYSE: DEXO) announced its quarterly earnings early Thursday, noting that ad sales fell 14 percent from a year earlier, and in that release noted the SEC filing.
Citing ongoing negotiations with "senior secured lenders," DexOne said an appointed steering committee of the two companies had unable to reach an agreement. A merger and amendments to loan agreements requires "100% approval from the current lenders" to both firms, Dex One noted in the filing.
The merger had been expected to close Nov. 30. The closing could be extended until Dec. 31. If closing is not achived by those dates, either company can terminate the deal.
As the deal stands now, Dex One's headquarters would be moved to Texas, where SuperMedia is based. The merger was announced in August.
"Thus far, the senior secured lenders, acting through the steering committee, have rejected the proposed amendments to the parties' respective credit agreements," Dex One said in the filing.
"Dex One and SuperMedia continue to negotiate with the steering committee in an attempt to reach agreement on amendments to the parties' respective credit agreements that will secure the consents necessary to effect the Merger.
"In light of the current negotiations, however, Dex One recognizes that the parties may not be able to obtain sufficient approval from the senior secured lenders to any proposed amendments to the parties' respective credit agreements.
"Therefore, possible alternatives to the current transaction structure to effect the Merger are under consideration, including a 'prepackaged' restructuring of the parties' senior secured indebtedness through proceedings instituted under Chapter 11 of the Bankruptcy Code to implement possible amendments that may garner sufficient, though not unanimous, support from the parties' respective lenders, while otherwise maintaining the basic economic terms of the Merger Agreement.
"However, there can be no assurance that Dex One and SuperMedia can effect a transaction through an alternative structure, that the necessary consents will be obtained, or that the Merger will be consummated."
Merger Could Fail
Dex One also noted that the merger could fail.
"The parties may amend the Merger Agreement to extend this deadline, or may waive the deadline, but it is possible that no agreement to amend, and no decision to waive, will be reached or that any agreement to so amend would contain terms or conditions that are different from those in the Merger Agreement."
Job Cuts
As part of the merger and the corporate move, Dex One, a provider of yellow pages and online marketing services based, could lay off some of its 300 Triangle workers.
In response to questions from WRAL News when the deal was announced a month ago, DexOne spokesperson Chris Hardman said job cuts and a possible move of the headquarters to Texas where SuperMedia is located were both possible.
The firms "are looking at workforce reductions in the 10-15 percent range across the company," Hardman explained. "There are approximately 5,800 combined in the two companies today."
Combined, the two firms generate some $3.1 billion in annual revenue. The deal is likely to lead to layoffs as the companies noted in the announcement that a merger will produce "significant synergies" – a term for cost savings.
In the announcement of the merger, the firms wrote, "The combined company estimates it will realize $150-$175 million of annual run rate cost synergies by 2015 due to scale efficiencies; rationalization of duplicative solutions, products and vendor relationships; headcount reductions; and adoption of the most cost effective management and operating practices and technology platforms and systems from Dex One and SuperMedia."
Among those who will lose a job is Alfred Mockett, the CEO of Dex One. He will step down once the merger is complete. Peter McDonald, the CEO of SuperMedia, will be the top executive of the combined company, which will continue the Dex One name. Alan Schultz, the Dex One board chair, will direct the combined company of some 5,800 employees.
After the deal closes, Dex One shareholders will own some 60 percent of the venture.
Dex One and SuperMedia both filed for bankruptcy in 2009.
Dex One Reports Third Quarter Performance
Date : 10/25/2012 @ 6:30AM
Source : Business Wire
Stock : Dex One Corp. (DEXO)
Quote : 1.31 0.0 (0.00%) @ 8:00AM
Dex One Reports Third Quarter Performance
Print
Alert
Dex One Corp. (NYSE:DEXO)
Intraday Stock Chart
Today : Thursday 25 October 2012
Dex One Corporation (NYSE: DEXO) today announced third quarter 2012 results highlighted by digital bookings growth of 26 percent. Third quarter 2012 adjusted EBITDA of $137 million was down slightly from the prior year period while adjusted free cash flow of $95 million was up relative to the previous year.
The company re-affirmed full year 2012 guidance and narrowed the range for net revenue ($1,275-$1,300 million), adjusted EBITDA ($535-$565 million) and adjusted free cash flow ($320-$350 million).
Ad sales for the quarter were minus 14 percent, in line with the previously provided guidance. Quarterly bookings and revenue declined 13 percent and 11 percent, respectively.
The company expects to post digital bookings growth for the year in excess of 30 percent.
“In the quarter, local businesses turned to Dex One to manage and expand their presence across mobile, social and local platforms,” said Alfred Mockett, Dex One CEO. “Our digital bookings growth was fueled by customers seeking to integrate their local marketing efforts and connect with consumers.”
“While merger-related activities required some of our attention, we continued to focus on efforts to grow our digital business and further reduce costs” said Dex One CFO Greg Freiberg. “We continue to maintain solid EBITDA margins despite the topline pressure, and remain on track to achieve our annual guidance.”
Dex One SuperMedia Merger Update
Following the announcement of the proposed merger between Dex One and SuperMedia, a joint steering committee of the senior secured lenders for both companies was formed to evaluate the proposed amendments to the parties’ respective credit agreements as set forth in the merger agreement. The consent of the lenders to the proposed amendments is a condition to closing the merger.
Dex One and SuperMedia continue to negotiate with the steering committee to reach agreement on amendments to the parties’ respective credit agreements. The parties are also considering alternatives to the current transaction structure to obtain the necessary lender consents.
Additional information about the proposed merger is included in a Form 8-K filed with the U.S. Securities and Exchange Commission today.
THIRD QUARTER 2012 PERFORMANCE
(dollars in millions)
Metric
RESULTS
Year over year change in bookings
Total
(13%)
Digital 26%
Print (22%)
Year over year change in advertising sales (14%)
Net revenue $320
Adjusted EBITDA(1) $137
Adjusted EBITDA margin(1) 43%
Adjusted free cash flow(1) $95
Adjusted net debt(1) $1,951
Net loss, cash flow from operations and total debt (including fair value discount) in the third quarter were $13 million, $98 million and $2,005 million, respectively.
2012 GUIDANCE
The company announced fourth quarter ad sales guidance and updated its existing full year financial guidancefor net revenue, adjusted EBITDA and adjusted free cash flow.
(dollars in millions)
Metric
Current
Guidance
Prior
Guidance(2)
Fourth Quarter
Year over year change in net ad sales (13%) – (14%) n/a
Full Year
Net revenue $1,275 to $1,300 $1,250 to $1,300
Adjusted EBITDA(1) $535 to $565 $525 to $575
Adjusted free cash flow(1) $320 to $350 $310 to $360
The outlook for 2012 operating income (midpoint) and cash flow from operations (midpoint) are $125 million and $365 million, respectively.
Important information regarding operating results and related reconciliations of non-GAAP financial measures to the most comparable GAAP measures can be found in the schedules and related footnotes to this press release, which should be thoroughly reviewed. All figures are preliminary and subject to change pending the filing of our Quarterly Report on Form 10-Q.
Advertising sales is a non-GAAP statistical measure and consists of sales of advertising in print directories distributed during the period and Internet-based products and services with respect to which such advertising first appeared publicly during the period.
The year over year change in ad sales is calculated by dividing the difference between ad sales in the current period and adjusted ad sales in the prior year divided by adjusted ad sales in the prior year. Adjustments have been made to prior year’s ad sales in an attempt to create a same store sales metric.
Bookings is another non-GAAP statistical measure that represents sales activity associated with our print directories and Internet-based marketing solutions during the period. Bookings associated with our local customers represent signed contracts during the period. Bookings associated with our national customers represent what has been published or fulfilled during the period.
The year over year change in bookings is calculated by dividing the difference between bookings in the current period and bookings generated in the prior year divided by bookings generated in the prior year.
It is important to distinguish advertising sales and bookings from net revenue, which is recognized under the deferral and amortization method.
THIRD QUARTER INVESTOR CONFERENCE CALL
Dex One Corporation will be hosting a conference call to discuss its third quarter 2012 results today at 8:30 a.m. (ET). Individuals within the United States can access the call by dialing 800-475-0381- others should dial 517-319-9311. The pass code for the call is “Dex One.” In order to ensure a prompt start time, please dial into the call by 8:20 a.m. EDT.
In addition, a live webcast will be available at www.DexOne.com and an archived version will be accessible for up to one year. A replay of the conference call can also be accessed from within the United States by dialing 866-427-6399 and internationally by dialing 203-369-0893. There is no pass code for the telephonic replay, which will be available through Nov. 8, 2012
Endnotes
1) These are non-GAAP financial measures. Please see the discussion of non-GAAP financial measures in the schedules and related footnotes at the end of this press release.
2) Full year guidance for net revenue, adjusted EBITDA and adjusted free cash flow originally provided on March 1, 2012.
ABOUT DEX ONE CORPORATION
Dex One Corporation (NYSE: DEXO) is a leading marketing solutions provider helping local businesses and their customers connect wherever and whenever they choose to search. Building on its heritage of delivering print-based solutions, the company provides integrated products and services to help its clients establish their digital presence and generate leads. Dex One’s locally based marketing experts offer a broad network of local marketing solutions including online, mobile and print search solutions, such as DexKnows.com. For more information, visit www.DexOne.com.
SAFE HARBOR PROVISION
Certain statements contained in this press release regarding Dex One Corporation’s (“Dex One’s”) future operating results, performance, business plans, prospects, guidance and any other statements not constituting historical fact are “forward-looking statements” subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Where possible, the words “believe,” “expect,” “anticipate,” “intend,” “should,” “will,” “would,” “planned,” “estimated,” “potential,” “goal,” “outlook,” “may,” “predicts,” “could,” or the negative of such terms, or other comparable expressions, as they relate to Dex One or its management, have been used to identify such forward-looking statements. All forward-looking statements reflect only Dex One’s current beliefs and assumptions with respect to future business plans, prospects, decisions and results, and are based on information currently available to Dex One. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause Dex One’s actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these statements.
Factors that could cause actual results to differ materially from current expectations include risks and other factors described in Dex One’s publicly available reports filed with the SEC, which contain a discussion of various factors that may affect Dex One’s business or financial results. Such risks and other factors, which in some instances are beyond Dex One’s control, include: the continuing decline in the use of print directories; increased competition, particularly from existing and emerging digital technologies; ongoing weak economic conditions and continued decline in advertising sales; our ability to collect trade receivables from customers to whom we extend credit; our ability to generate sufficient cash to service our debt; our ability to comply with the financial covenants contained in our debt agreements and the potential impact to operations and liquidity as a result of restrictive covenants in such debt agreements; our ability to refinance or restructure our debt on reasonable terms and conditions as might be necessary from time to time; increasing interest rates; changes in our and our subsidiaries’ credit ratings; changes in accounting standards; regulatory changes and judicial rulings impacting our business; adverse results from litigation, governmental investigations or tax related proceedings or audits; the effect of labor strikes, lock-outs and negotiations; potential adverse impacts to our operations and customer and vendor relationships resulting from the announcement of the proposed merger with SuperMedia Inc. (“SuperMedia”) or any delays in completing, or failure to complete, the same; successful realization of the expected benefits of acquisitions, divestitures and joint ventures; our ability to maintain agreements with CenturyLink, AT&T and other major Internet search and local media companies; our reliance on third-party vendors for various services; and other events beyond our control that may result in unexpected adverse operating results. Dex One is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet service providers. This press release is being furnished to the SEC through a Form 8-K. The company’s Quarterly Report on Form 10-Q for the period ended Sept. 30, 2012 to be filed with the SEC may contain updates to the information included in this release.
IMPORTANT INFORMATION FOR INVESTORS AND SECURITY HOLDERS
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. The proposed merger transaction between SuperMedia and Dex One will be submitted to the respective stockholders of SuperMedia and Dex One. In connection with the proposed transaction, Newdex, Inc., a subsidiary of Dex One (“Newdex”), will file with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that will include a joint proxy statement/prospectus to be used by SuperMedia and Dex One to solicit the required approval of their stockholders and that also constitutes a prospectus of Newdex. INVESTORS AND SECURITY HOLDERS OF SUPERMEDIA AND DEX ONE ARE ADVISED TO CAREFULLY READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS) AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION, THE PARTIES TO THE TRANSACTION AND THE RISKS ASSOCIATED WITH THE TRANSACTION. A definitive joint proxy statement/prospectus will be sent to security holders of SuperMedia and Dex One seeking their approval of the proposed transaction. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when available) and other relevant documents filed by SuperMedia and Dex One with the SEC from the SEC’s website at www.sec.gov. Copies of the documents filed by SuperMedia with the SEC will be available free of charge on SuperMedia’s website at www.supermedia.com under the tab “Investors” or by contacting SuperMedia’s Investor Relations Department at (877) 343-3272. Copies of the documents filed by Dex One with the SEC will be available free of charge on Dex One’s website at www.dexone.com under the tab “Investors” or by contacting Dex One’s Investor Relations Department at (800) 497-6329.
SuperMedia and Dex One and their respective directors, executive officers and certain other members of management may be deemed to be participants in the solicitation of proxies from their respective security holders with respect to the transaction. Information about these persons is set forth in SuperMedia’s proxy statement relating to its 2012 Annual Meeting of Shareholders and Dex One’s proxy statement relating to its 2012 Annual Meeting of Stockholders, as filed with the SEC on April 11, 2012 and March 22, 2012, respectively, and subsequent statements of changes in beneficial ownership on file with the SEC. These documents can be obtained free of charge from the sources described above. Security holders and investors may obtain additional information regarding the interests of such persons, which may be different than those of the respective companies’ security holders generally, by reading the joint proxy statement/prospectus and other relevant documents regarding the transaction (when available), which will be filed with the SEC.
(See attached schedules and related footnotes)
DEX ONE CORPORATION Schedule 1
INDEX OF SCHEDULES
Schedule 1: Index of Schedules
Schedule 2: Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2012 and 2011
Schedule 3: Unaudited Condensed Consolidated Balance Sheets at September 30, 2012 and December 31, 2011
`
Schedule 4: Unaudited Condensed Consolidated Statements of Cash Flows for the three and nine months ended September 30, 2012 and 2011
Schedule 5: Reconciliation of Non-GAAP Measures
Schedule 6: Statistical Measures - Advertising Sales and Bookings
Schedule 7: Notes to Unaudited Condensed Consolidated Financial Statements
and Non-GAAP Measures
Note: These schedules are preliminary and subject to change pending the Company's filing of its Form 10-Q.
DEX ONE CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Schedule 2
Amounts in millions, except earnings (loss) per share
Three Months Ended Nine Months Ended
September 30, September 30,
2012 2011 2012 2011
Net revenue (1) $ 319.7 $ 360.1 $ 998.7 $ 1,128.6
Expenses 188.0 215.9 578.7 655.1
Depreciation and amortization (2) 104.4 66.0 313.2 182.0
Impairment charges (3) - - - 801.1
Operating income (loss) 27.3 78.2 106.8 (509.6 )
Gain on Debt Repurchases, net (4) - - 139.6 -
Gain on sale of assets, net (5) - - - 13.4
Interest expense, net (46.6 ) (55.3 ) (151.6 ) (171.1 )
Income (loss) before income taxes (19.3 ) 22.9 94.8 (667.3 )
Tax (provision) benefit 6.6 (0.7 ) 3.1 142.8
Net income (loss) $ (12.7 ) $ 22.2 $ 97.9 $ (524.5 )
Earnings (loss) per share (EPS):
Basic $ (0.25 ) $ 0.44 $ 1.94 $ (10.47 )
Diluted $ (0.25 ) $ 0.44 $ 1.93 $ (10.47 )
Shares used in computing EPS:
Basic 50.8 50.2 50.6 50.1
Diluted 50.8 50.2 50.6 50.1
See accompanying Notes to Unaudited Condensed Consolidated Financial Statements and Non-GAAP Measures - Schedule 7.
Note: These schedules are preliminary and subject to change pending the Company's filing of its Form 10-Q.
DEX ONE CORPORATION Schedule 3
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Amounts in millions
September 30, 2012 December 31, 2011
Assets
Cash and cash equivalents $ 95.6 $ 257.9
Accounts receivable, net 499.2 605.7
Deferred directory costs 98.6 130.8
Short term deferred income taxes, net 71.5 67.8
Other current assets 42.7 51.4
Total current assets 807.6 1,113.6
Fixed assets and computer software, net 117.6 151.5
Intangible assets, net (2) 1,920.0 2,182.1
Other non-current assets 17.7 13.0
Total Assets $ 2,862.9 $ 3,460.2
Liabilities and Shareholders' Equity (Deficit)
Accounts payable and accrued liabilities $ 91.7 $ 126.2
Accrued interest 22.4 29.2
Deferred revenue 505.9 644.1
Current portion of long-term debt (6) 226.1 326.3
Total current liabilities 846.1 1,125.8
Long-term debt (6) 1,778.6 2,184.1
Deferred income taxes, net 78.2 75.5
Other non-current liabilities 68.0 84.7
Total liabilities 2,770.9 3,470.1
Shareholders’ equity (deficit) 92.0 (9.9 )
Total Liabilities and Shareholders' Equity (Deficit) $ 2,862.9 $ 3,460.2
See accompanying Notes to Unaudited Condensed Consolidated Financial Statements and Non-GAAP Measures - Schedule 7.
Note: These schedules are preliminary and subject to change pending the Company's filing of its Form 10-Q.
DEX ONE CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Schedule 4
Amounts in millions
Three Months Ended Nine Months Ended
September 30, September 30,
2012 2011 2012 2011
Net cash provided by operating activities $ 97.6 $ 82.4 $ 261.4 $ 295.0
Investment activities:
Additions to fixed assets and computer software (5.1 ) (4.4 ) (17.1 ) (19.2 )
Proceeds from sale of assets - - 0.1 15.4
Net cash used in investing activities (5.1 ) (4.4 ) (17.0 ) (3.8 )
Financing activities:
Long-term debt repurchases and repayments (77.4 ) (52.2 ) (400.9 ) (207.2 )
Debt issuance costs and other financing items, net (2.4 ) - (5.3 ) 0.5
Decrease in checks not yet presented for payment - - (0.5 ) (17.0 )
Net cash used in financing activities (79.8 ) (52.2 ) (406.7 ) (223.7 )
Increase (decrease) in cash and cash equivalents 12.7 25.8 (162.3 ) 67.5
Cash and cash equivalents, beginning of period 82.9 169.6 257.9 127.9
Cash and cash equivalents, end of period $ 95.6 $ 195.4 $ 95.6 $ 195.4
Non-cash financing activities:
Reduction of debt from Debt Repurchases (4) $ - $ - $ 144.3 $ -
See accompanying Notes to Unaudited Condensed Consolidated Financial Statements and Non-GAAP Measures - Schedule 7.
Note: These schedules are preliminary and subject to change pending the Company's filing of its Form 10-Q.
DEX ONE CORPORATION
RECONCILIATION OF NON-GAAP MEASURES
Schedule 5a
(unaudited)
EBITDA and Adjusted EBITDA are not measurements of operating performance computed in accordance with GAAP and should not be considered as a substitute for net income (loss) prepared in conformity with GAAP. In addition, EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Management believes that these non-GAAP financial measures are important indicators of our operations because they exclude items that may not be indicative of, or related to, our core operating results, and provide a better baseline for analyzing our underlying business. Adjusted EBITDA for the three months ended September 30, 2012 is determined by adjusting EBITDA for (i) stock-based compensation expense and long-term incentive program and (ii) merger transaction and integration expenses associated with the proposed merger between Dex One and SuperMedia, Inc. Adjusted EBITDA for the three months ended September 30, 2011 is determined by adjusting EBITDA for stock-based compensation expense and long-term incentive program. Adjusted EBITDA for the nine months ended September 30, 2012 is determined by adjusting EBITDA for (i) gain on Debt Repurchases, net, (ii) stock-based compensation expense and long-term incentive program and (iii) merger transaction and integration expenses associated with the proposed merger between Dex One and SuperMedia, Inc. Adjusted EBITDA for the nine months ended September 30, 2011 is determined by adjusting EBITDA for (i) impairment charges, (ii) gain on sale of assets, net and (iii) stock-based compensation expense and long-term incentive program.
Amounts in millions
Three Months Ended Nine Months Ended
September 30, September 30,
Reconciliation of net income (loss) - GAAP to EBITDA and Adjusted EBITDA 2012 2011 2012 2011
Net income (loss) - GAAP $ (12.7 ) $ 22.2 $ 97.9 $ (524.5 )
Plus (less): tax provision (benefit) (6.6 ) 0.7 (3.1 ) (142.8 )
Plus: interest expense, net 46.6 55.3 151.6 171.1
Plus: depreciation and amortization 104.4 66.0 313.2 182.0
EBITDA $ 131.7 $ 144.2 $ 559.6 $ (314.2 )
Plus: Impairment charges (3) - - - 801.1
Less: Gain on Debt Repurchases, net (4) - - (139.6 ) -
Less: Gain on sale of assets, net (5) - - - (13.4 )
Plus: Stock-based compensation expense and long-term incentive program 1.0 1.5 3.9 4.7
Plus: Merger transaction and integration expenses 4.4 - 4.4 -
Adjusted EBITDA $ 137.1 $ 145.7 $ 428.3 $ 478.2
See accompanying Notes to Unaudited Condensed Consolidated Financial Statements and Non-GAAP Measures - Schedule 7.
Note: These schedules are preliminary and subject to change pending the Company's filing of its Form 10-Q.
DEX ONE CORPORATION
RECONCILIATION OF NON-GAAP MEASURES (cont'd)
Schedule 5b
(unaudited)
Free cash flow and Adjusted free cash flow are not measurements of operating performance computed in accordance with GAAP and should not be considered as a substitute for cash flow from operations prepared in conformity with GAAP. In addition, Free cash flow and Adjusted free cash flow may not be comparable to similarly titled measures of other companies. Management believes that these cash flow measures provide investors and stockholders with a relevant measure of liquidity and a useful basis for assessing the Company's ability to fund its activities and obligations. Adjusted free cash flow for the three and nine months ended September 30, 2012 is determined by adjusting Free cash flow for merger transaction and integration cash payments associated with the proposed merger between Dex One and SuperMedia, Inc.
Amounts in millions
Three Months Ended Nine Months Ended
September 30, September 30,
Reconciliation of cash flow from operations - GAAP to free cash flow and adjusted free cash flow 2012 2011
2012
2011
Cash flow from operations - GAAP $ 97.6 $ 82.4 $ 261.4 $ 295.0
Less: Additions to fixed assets and computer software - GAAP (5.1 ) (4.4 ) (17.1 ) (19.2 )
Free cash flow 92.5 $ 78.0 244.3 $ 275.8
Add: Merger transaction and integration cash payments 2.6 2.6
Adjusted free cash flow $ 95.1 $ 246.9
Reconciliation of debt - GAAP to net debt and net debt - eliminating fair value discount (6) (7) September 30, 2012 December 31, 2011
Debt - GAAP $ 2,004.7 $ 2,510.4
Less: Cash and cash equivalents (95.6 ) (257.9 )
Net debt 1,909.1 2,252.5
Fair value discount 41.6 63.2
Net debt - eliminating fair value discount $ 1,950.7 $ 2,315.7
See accompanying Notes to Unaudited Condensed Consolidated Financial Statements and Non-GAAP Measures - Schedule 7.
Note: These schedules are preliminary and subject to change pending the Company's filing of its Form 10-Q.
DEX ONE CORPORATION
RECONCILIATION OF NON-GAAP MEASURES (cont'd)
Schedule 5c
(unaudited)
Amounts in millions
Full Year 2012
Reconciliation of adjusted EBITDA outlook - Midpoint to operating income - GAAP outlook Outlook
Adjusted EBITDA outlook - Midpoint $ 550
Less: depreciation and amortization (415 )
Adjusted operating income outlook 135
Less: Stock-based compensation expense and long-term incentive program (10 )
Operating income - GAAP outlook $ 125
Full Year 2012
Reconciliation of adjusted free cash flow outlook - Midpoint to cash flow from operations outlook - GAAP Outlook
Adjusted free cash flow outlook - Midpoint $ 335
Plus: Additions to fixed assets and computer software 30
Cash flow from operations outlook - GAAP $ 365
DEX ONE CORPORATION
STATISTICAL MEASURES
CALCULATION OF ADVERTISING SALES AND BOOKINGS PERCENTAGE CHANGE OVER PRIOR YEAR PERIODS
Schedule 6
(unaudited)
Amounts in millions, except percentages
Nine Months Ended Three Months Ended Three Months Ended Three Months Ended Three Months Ended
Advertising Sales (8) September 30, 2012 September 30, 2012 June 30, 2012 March 31, 2012 December 31, 2011
Advertising Sales $ 862 $ 232 $ 334 $ 296 $ 387
Advertising sales percentage change over prior year periods (14 %) (14 %) (12 %) (16 %) (13 %)
Nine Months Ended Three Months Ended Three Months Ended Three Months Ended Three Months Ended
Bookings (8) September 30, 2012 September 30, 2012 June 30, 2012 March 31, 2012 December 31, 2011
Bookings:
Print bookings $ 644 $ 200 $ 206 $ 237 $ 253
Digital bookings 208 72 69 67 60
Total Bookings $ 852 $ 272 $ 275 $ 304 $ 313
Bookings percentage change over prior year periods:
Print bookings percentage change (22 %) (22 %) (24 %) (21 %) (18 %)
Digital bookings percentage change 36 % 26 % 53 % 32 % 34 %
Total bookings percentage change over prior year periods (13 %) (13 %) (13 %) (13 %) (11 %)
See accompanying Notes to Unaudited Condensed Consolidated Financial Statements and Non-GAAP Measures - Schedule 7.
Note: These schedules are preliminary and subject to change pending the Company's filing of its Form 10-Q.
DEX ONE CORPORATION Schedule 7
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND NON-GAAP MEASURES
(1)
Our advertising revenues are earned primarily from the sale of advertising in yellow pages directories we publish. Advertising revenues also include revenues from our Internet-based marketing solutions including online directories, such as DexKnows.com and DexNet. Advertising revenues are affected by several factors, including changes in the quantity and size of advertisements, acquisition of new clients, renewal rates of existing clients, premium advertisements sold, changes in advertisement pricing, the introduction of new marketing solutions, an increase in competition and more fragmentation in the local business search market and general economic factors. Revenues with respect to print advertising and Internet-based marketing solutions that are sold with print advertising are recognized under the deferral and amortization method whereby revenues are initially deferred when a directory is published, net of sales claims and allowances, and recognized ratably over the directory’s life, which is typically 12 months. Revenues with respect to Internet-based marketing solutions that are sold standalone, such as DexNet, are recognized ratably over the life of the contract commencing when they are first delivered or fulfilled. Revenues with respect to our marketing solutions that are performance-based are recognized as the service is delivered or fulfilled.
(2)
The Company evaluated the remaining useful lives of definite-lived intangible assets and other long-lived assets during the first quarter of 2012. Based on our evaluation, we reduced the estimated useful lives of our directory services agreements, local and national customer relationships and tradenames and trademarks to a combined weighted average useful life of 9 years. As a result of reducing the estimated useful lives of these intangible assets, the Company expects an increase in amortization expense of $161.6 million and total amortization expense of $349.4 million for 2012.
(3)
The Company concluded there were indicators of impairment as of May 31, 2011. As a result, we performed impairment tests of our goodwill, definite-lived intangible assets and other long-lived assets as of May 31, 2011. The impairment testing results for recoverability of our definite-lived intangible assets and other long-lived assets indicated they were recoverable and thus no impairment test was required as of May 31, 2011. Based upon the testing results of our goodwill, we determined that the remaining goodwill assigned to each of our reporting units was fully impaired and thus recognized an aggregate goodwill impairment charge of $801.1 million during the second quarter of 2011, which was recorded at each of our reporting units.
(4)
On April 19, 2012, the Company utilized cash on hand of $26.5 million to repurchase $98.2 million aggregate principal amount of Dex One senior subordinated notes. On March 23, 2012, the Company utilized cash on hand of $69.5 million to repurchase loans under our credit facilities of $142.1 million. These debt transactions are hereby referred to as the "Debt Repurchases." The Debt Repurchases have been accounted for as an extinguishment of debt resulting in a non-cash, pre-tax gain of $139.6 million during the nine months ended September 30, 2012.
(5)
On February 14, 2011, we completed the sale of substantially all net assets of Business.com. As a result, we recognized a gain on sale of these assets of $13.4 million during the first quarter of 2011.
(6)
In conjunction with our adoption of fresh start accounting, an adjustment was established to record our outstanding debt at fair value on the Fresh Start Reporting Date. The Company was required to record our credit facilities at a discount as a result of their fair value on the Fresh Start Reporting Date. Therefore, the carrying amount of these debt obligations is lower than the principal amount due at maturity. This fair value adjustment is amortized as an increase to interest expense over the remaining term of the respective debt agreements and does not impact future scheduled interest or principal payments. The unamortized fair value adjustment resulting from fresh start accounting was $41.6 million at September 30, 2012.
(7)
Net debt represents total debt less cash and cash equivalents on the respective date. Net debt – eliminating fair value discount eliminates the fair value discount as a result of fresh start accounting described in Note 6 and represents principal amounts due at maturity.
(8)
Advertising sales is a non-GAAP statistical measure and consists of sales of advertising in print directories distributed during the period and Internet-based marketing solutions with respect to which such advertising first appeared publicly during the period. In order to calculate a percentage change over prior periods, adjustments have been made to the prior year’s advertising sales in an attempt to create a same store sales metric. Bookings is also a non-GAAP statistical measure and represents sales activity associated with our print directories and Internet-based marketing solutions during the period. Bookings associated with our local customers represent signed contracts during the period. Bookings associated with our national customers represent what has been published or fulfilled during the period. It is important to distinguish advertising sales and bookings from net revenue, which is recognized under the deferral and amortization method.
Note: These schedules are preliminary and subject to change pending the Company's filing of its Form 10-Q
lol, or there would be buying or selling ahead.
With the avg volume today i'd expect nothing earth shaking in tomorrows news.
i'll wait 3-5 years to be a millionaire.
Alittle movement today in hopes of good news tomorrow maybe. 3-5 years no one wants to wait that long imo
the perception of dex one is worse than the reality.
i think that the merger will work out and 3-5 years from now dex media will be more than 1000% higher.
i think that Q3 numbers will be "not disasterous"
What do u think the 25th will hold for us?
with the yahoo message boards having gone into the trash... are there any other message boards with investors talking about dexo?
SuperMedia to Report Third Quarter 2012 Results on Tuesday, October 30
Print
Alert
Supermedia Inc. (MM) (NASDAQ:SPMD)
Intraday Stock Chart
Today : Thursday 18 October 2012
SuperMedia (NASDAQ:SPMD) will report third quarter 2012 earnings on Tuesday, October 30, 2012.
SuperMedia welcomes investors, media and other interested parties to join Peter McDonald, chief executive officer of SuperMedia, and Samuel D. Jones, executive vice president, chief financial officer and treasurer, in a discussion via a Web cast and teleconference beginning at 10:00am (Eastern).
Individuals within the United States can access the earnings call by dialing 888/603-6873. International participants should dial 973/582-2706. The pass code for the call is: 51095102. In order to ensure a prompt start time, please dial into the call by 9:50am (Eastern). A replay of the teleconference will be available at 800/585-8367. International callers can access the replay by calling 404/537-3406. The replay pass code is: 51095102. The replay will be available through November 13, 2012. In addition, a live Web cast will be available on SuperMedia’s Web site in the Investor Relations section at www.supermedia.com.
Dex One Corporation to Announce Third Quarter 2012 Results on October 25
Date : 10/16/2012 @ 9:05AM
Source : Business Wire
Stock : Dex One Corp. (DEXO)
Quote : 1.34 0.02 (1.52%) @ 1:38PM
Dex One Corporation to Announce Third Quarter 2012 Results on October 25
Print
Alert
Dex One Corp. (NYSE:DEXO)
Intraday Stock Chart
Today : Tuesday 16 October 2012
Dex One Corporation (NYSE: DEXO) will release third quarter 2012 results on Thursday, Oct. 25, at approximately 6:30 a.m. EDT. The release will be posted to the Investor Relations section of the company’s website, www.DexOne.com.
The company invites investors and other interested parties to participate in a conference call at 8:30 a.m. EDT on the same day to hear commentary regarding results. Alfred Mockett, CEO, and Greg Freiberg, executive vice president and CFO, will host the call. Remarks will be followed by a question and answer session.
Individuals within the United States can access the call by dialing 800-475-0381- others should dial 517-319-9311. The pass code for the call is “Dex One.” In order to ensure a prompt start time, please dial into the call by 8:20 a.m. EDT. In addition, a live webcast will be available at www.DexOne.com and an archived version will be accessible for up to one year. A replay of the conference call can also be accessed from within the United States by dialing 866-427-6399 and internationally by dialing 203-369-0893. There is no pass code for the telephonic replay, which will be available through Nov. 8, 2012.
algo's running wild http://www.reuters.com/article/2009/03/16/idearc-idUSBNG49547920090316
what's up glen
DEXO...chart
http://finviz.com/quote.ashx?t=dexo
NOT A VERY BUSY BOARD IS IT. BUT I HEAR YA. HAVE A GOOD DAY
considering how much i added at $1.80, today's prices are awesome, i'm adding what little i can.
4Q right around the corner now, so I'm expecting news and ticker movement. Just bought more at these low prices
Whatever happened is apparently over, so it's time for the price to resolve to what it's worth. Need to see 2.00 again.
yeah, this is getting wild.
insiders dumped shares spooking investors
Is it as simple as filling the gap, or is there some kind of news we're all missing?
The pop on the merger news was justified, no idea was it's reversing. I guess until the merger is official and some debt negotiations are publicized we won't see a "real" pop.
So whats going on with this stock today? Why the 10% decline?
Block Trades Bought/Sold Ratio Net Cash Flow
6 0.04 $-1.35M
TIME TRADE PRICE VOLUME
Sep 25, 2012 01:07 PM BOUGHT $1.39 24500
Sep 25, 2012 01:00 PM SOLD $1.40 16700
Sep 25, 2012 12:44 PM BOUGHT $1.42 16300
Sep 25, 2012 12:42 PM SOLD $1.35 1000835
Sep 25, 2012 12:23 PM SOLD $1.40 14700
Were due for a move up however it may fill the gap
Financing? I can't think of any reason investors would dump, it's just going to get better when the merger and debt negotiations are announced in 4Q.
I was wondering the same thing.
Can anyone answer as to what this dumping is in reaction to?
mods, may i ask you to remove my earlier post as it's no longer relevent. many thanks (this one also)
i can only think of Groundhog Day
I think with merger and debt plan , this stock almost doubles from here.
I think by the time the merger is ready and a plan for debt this stock almost doubles from here.
The merger is exciting news!! How is everyone else feeling about this?
lol getting ROCKED ... is there something i'm missing here?
i need to recast my proforma analysis to figure out the impact of these new terms.
Yea I'm looking forward to the "official" merger in 4Q - should create a nice pop and at that point I'll choose between taking profit or playing long for potentially a much bigger profit.
I can't believe there isn't more activity here.
SuperMedia’s CIO, Michael Dunn, Recognized as a “2012 Top 10 Breakaway Leader”
Print
Alert
Supermedia Inc. (MM) (NASDAQ:SPMD)
Intraday Stock Chart
Today : Monday 17 September 2012
CIO Leadership Network presented their Top 10 Breakaway Leaders, including Michael Dunn, Chief Information Officer at SuperMedia. This year's awards focused on the theme of Business Acceleration and Leadership in the Evolving Global Economy – Predict. Transform. Deliver.
“Michael’s vision, leadership and overall business acumen led the transformation of our architecture from a print centric company to a digital-focused one. His passion has earned the respect of his colleagues, peers and staff,” said Frank Gatto, EVP Operations at SuperMedia. “Michael and his team are always delivering excellence and exceeding expectations in a fast-paced, results-driven environment.”
Each year, a panel of elite CIOs chooses a list of 10 Breakaway Leaders who exemplify leadership, dedication and influence as a CIO. This is the only CIO awards program where winners are determined by the CIO peer community alongside an elite judging panel. Dunn was selected to join elite CIOs from companies such as Alcoa, Lockheed Martin, PepsiCo, and Sysco Corporation.
The fifth annual Top 10 Breakaway Leaders Award Gala took place September 10, 2012 at The St. Regis Aspen Resort.
About SuperMedia
SuperMedia Inc. (NASDAQ: SPMD) helps small- and medium-sized businesses grow through effective local marketing solutions across print, online, mobile and social media. SuperMedia solutions include the award-winning SuperGuarantee® program, Superpages® directories, published for Verizon®, FairPoint® and Frontier®, Superpages.com®, EveryCarListed.com®, Superpages for your mobile and Superpages direct mail products. For more information, visit www.supermedia.com.
SPMD-G
this references dex one as competition
dex one makes millions of dollars a year. locm makes negative money.. adjusted eps is like 0.02 last quarter.
i dont get how because they have negative operating margins.
your idea isn't so good to me.
Hey, make that three.
This is the 1st time Ihub has shown up for me on this board....Glad to see someone here.
i think the drop is due to YLO's midafternoon announcement of recapitalization yes votes passing
I guess I jinxed it :D
Both SPMD and DEXO had the same day today, a pop and a late day drop.
No worries on my end, I'm staying in until at least year-end.
And we got the move
Happy days for the... maybe 2 of us here :D
Yep, I think we're ready for another move here. No reason this shouldn't be over 2.00 and bump again when the merger is officially announced
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Dex One Corporation is a leading marketing services company that helps local businesses reach, win, and keep ready-to-buy customers.
Through access to a vast collection of highly valuable, proprietary local market intelligence, as well as the personal, hands-on service from approximately 1,500 dedicated marketing consultants, Dex One helps about 435,000 local businesses create custom-tailored marketing programs that effectively reach potential customers - wherever, whenever, and however they search.
Dex One delivers a broad range of products and services to help local businesses grow - from identifying target audiences and developing messaging, to optimizing marketing programs and leveraging appropriate products such as online and mobile search solutions, print yellow pages directories, voice based search platforms, and one of the largest pay-per-click ad networks in the U.S.
Dex One Corporation, formerly R.H. Donnelley Corporation (RHD), is a marketing services company that helps local businesses to reach consumers. It offers local businesses personalized marketing consulting services and exposure across a network of local marketing products, including its print, online and mobile yellow pages and search solutions, as well as search engines. Through its Dex Advantage, clients' business information is published and marketed through a single profile and distributed via a variety of both owned and operated products, and through other local search products. On May 28, 2009, RHD and its subsidiaries filed voluntary petitions for Chapter 11 relief under the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. RHD emerged from Chapter 11 relief under Title 11 of the United States Code on January 29, 2010 (Effective Date). On the Effective Date and in connection with its emergence from Chapter 11, RHD was renamed Dex One Corporation.
Directors & officers
Name | Title | Compensation | Age | Officer since | |
---|---|---|---|---|---|
| EugeneDavis | Non-Executive Chairman of the Board | -- | 56 | 2010 |
Mr. Eugene I. Davis has been appointed as Non-Executive Chairman of the Board of Dex One Corporation., effective August 19, 2011. He has served as Chairman and Chief Executive Officer of Pirinate Consulting Group, L.L.C., a privately-held consulting firm specializing in crisis and turn-around management and strategic advisory services for public and private business entities, since 1999. Mr. Davis has served as director for numerous public and private companies across various industries. Mr. Davis has served as a Company director since January 2010 and currently serves on the boards of Ambassadors International, Inc., Atlas Air Worldwide Holdings, Inc., Global Power Equipment, Inc., GSI Group, Inc., Mosaid Technologies, Inc., Orchid Cellmark, Inc., Rural/Metro Corp., Spectrum Brands, Inc., and U.S. Concrete, Inc. Mr. Davis is on the boards of Footstar, Inc., Smurfit-Stone Container Corporation and YRC Worldwide, Inc. Footstar has announced a merger transaction pursuant to which it will be acquired by Footstar Acquisitions, Inc. in a going-private transaction. Smurfit-Stone has announced a transaction to be acquired by Rock-Tenn Company. YRC Worldwide has announced that it has entered into a non-binding term sheet regarding a restructuring. Mr. Davis will no longer serve as a director of Smurfit-Stone or YRC Worldwide upon closing of those transactions or will resign by December 31, 2011 if the transactions have not closed by that time. During the past five years, Mr. Davis has also been a director of American Commercial Lines Inc., Delta Airlines, Foamex International Inc., Granite Broadcasting Corporation, Ion Media Networks, Inc., Media General, Inc., Ogelbay Norton Company, PRG-Schultz International Inc., Silicon Graphics International, Terrastar Corp., Tipperary Corporation and Viskase, Inc. Mr. Davis currently serves as the Chairman of the Audit and Finance Committee. | |||||
| AlfredMockett | President, Chief Executive Officer, Director | 515.07k USD | 62 | 2010 |
| GregoryFreiberg | Chief Financial Officer, Executive Vice President | -- | 44 | 2011 |
| RichardHanna | Executive Vice President - Sales & Marketing | -- | 50 | 2011 |
| AtishBanerjea | Senior Vice President, Chief Technology Officer | -- | 45 | 2011 |
| MarkHianik | Senior Vice President, General Counsel, Corporate Secretary | 1.02m USD | 50 | 2008 |
| GretchenZech | Senior Vice President - Human Resources | -- | 41 | 2006 |
| SeanGreene | Acting Senior Vice President - Interactive | 721.95k USD | 40 | 2006 |
| TylerGronbach | Senior Vice President - Communications | -- | 42 | 2005 |
| DonnaTowles | Senior Vice President - Operations | -- | 58 | 2011 |
| SylvesterJohnson | Vice President, Chief Accounting Officer, Corporate Controller | -- | 50 | 2009 |
| JonathanBulkeley | Director | -- | 50 | 2010 |
| RichardKuersteiner | Independent Director | -- | 71 | 2010 |
| W. KirkLiddell | Independent Director | -- | 61 | 2010 |
| MarkMcEachen | Independent Director | -- | 53 | 2010 |
| AlanSchultz | Independent Director | -- | 52 | 2005 |
NORTH CAROLINA
Cary
Corporate Headquarters
1001 Winstead Dr
Cary, NC 27513
866.527.4550
919.297.1600
Fayetteville
4151 Sycamore Dairy Rd, Ste C
Fayetteville, NC 28303
800.781.1082
910.764.3800
Greenville
1290 E. Arlington Blvd, Ste 104
Greenville, NC 27858
800.781.1082
Hickory
336 Lenoir Rhyne Blvd #1
Hickory, NC 28602
800.781.1082
SHARE STRUCTURE
Shares outstanding | 50.23m |
---|---|
Free float | 42.73m |
BALANCE SHEET
Fiscal Year Ending Dec 31 2010 | 2010 | 2009 | 2008 |
ASSETS | |||
Cash And Short Term Investments | 128 | 666 | 131 |
Total Recivables, Net | 678 | 826 | 1,027 |
Total Inventory | -- | -- | -- |
Prepaid expenses | 83 | 91 | 95 |
Other current assets, total | 231 | 138 | 262 |
Total current assets | 1,120 | 1,721 | 1,516 |
Property, plant & equipment, net | 189 | 157 | 189 |
Goodwill, net | 801 | -- | 0 |
Intangibles, net | 2,369 | 2,158 | 10,009 |
Long term investments | -- | -- | -- |
Note receivable - long term | -- | -- | -- |
Other long term assets | 9.76 | 63 | 167 |
Total assets | 4,489 | 4,499 | 11,881 |
LIABILITIES | |||
Accounts payable | -- | -- | -- |
Accrued expenses | 31 | 4.64 | 181 |
Notes payable/short-term debt | 0 | 0 | 0 |
Current portion long-term debt/capital leases | 249 | 994 | 114 |
Other current liabilities, total | 723 | 957 | 1,076 |
Total current liabilities | 1,157 | 2,124 | 1,587 |
Total long term debt | 2,488 | 2,561 | 9,509 |
Total debt | 2,737 | 3,555 | 9,622 |
Deferred income tax | 206 | 0 | 998 |
Minority interest | -- | -- | -- |
Other liabilities, total | 112 | 6,733 | 280 |
Total liabilities | 3,963 | 11,418 | 12,374 |
SHAREHOLDERS EQUITY | |||
Common stock | 0.05 | 88 | 88 |
Additional paid-in capital | 1,455 | 2,443 | 2,431 |
Retained earnings (accumulated deficit) | (924) | (9,137) | (2,684) |
Treasury stock - common | 0 | (256) | (256) |
Unrealized gain (loss) | -- | -- | -- |
Other equity, total | (5.77) | (56) | (73) |
Total equity | 526 | (6,919) | (493) |
Total liabilities & shareholders' equity | 4,489 | 4,499 | 11,881 |
Total common shares outstanding | 50 | 69 | 69 |
Treasury shares - common primary issue | 0 | 19 | 19 |
INCOME STATEMENT
Fiscal Year Ending Dec 31 2010 | 2010 | 2009 | 2008 |
REVENUE AND GROSS PROFIT | |||
Total revenue | 991 | 2,202 | 2,617 |
OPERATING EXPENSES | |||
Cost of revenue total | 250 | 351 | 418 |
Selling, general and admin. expenses, total | 574 | 733 | 851 |
Depreciation/amortization | 238 | 579 | 483 |
Unusual expense(income) | (6,634) | 7,433 | 3,605 |
Other operating expenses, total | -- | -- | -- |
Total operating expense | (5,572) | 9,095 | 5,357 |
Operating income | 6,563 | (6,892) | (2,741) |
Other, net | -- | 0 | 0 |
INCOME TAXES, MINORITY INTEREST AND EXTRA ITEMS | |||
Net income before taxes | 6,294 | (7,382) | (3,576) |
Provision for income taxes | 297 | (929) | (1,278) |
Net income after taxes | 5,996 | (6,453) | (2,298) |
Minority interest | -- | -- | -- |
Net income before extra. Items | 5,996 | (6,453) | (2,298) |
Total extraordinary items | -- | -- | -- |
Net income | 5,996 | (6,453) | (2,298) |
Inc.avail. to common excl. extra. Items | 5,996 | (6,453) | (2,298) |
Inc.avail. to common incl. extra. Items | 5,996 | (6,453) | (2,298) |
EPS RECONCILIATION | |||
Basic/primary weighted average shares | 50 | 69 | 69 |
Basic/primary eps excl. extra items | 120 | (94) | (33) |
Basic/primary eps incl. extra items | 120 | (94) | (33) |
Dilution adjustment | -- | 0 | 0 |
Diluted weighted average shares | 50 | 69 | 69 |
Diluted eps excl. extra items | 120 | (94) | (33) |
Diluted eps incl. extra items | 120 | (94) | (33) |
COMMON STOCK DIVIDENDS | |||
DPS - common stock primary issue | 0 | 0 | 0 |
Gross dividend - common stock | 0 | 0 | 0 |
PRO FORMA INCOME | |||
Pro forma net income | -- | -- | -- |
Interest expense, supplemental | 269 | 490 | 837 |
SUPPLEMENTAL INCOME | |||
Depreciation, supplemental | 55 | 64 | 67 |
Total special items | (6,634) | 7,433 | 3,605 |
NORMALIZED INCOME | |||
Normalized income before taxes | (340) | 51 | 29 |
Effect of special items on income taxes | (2,322) | 2,601 | 1,262 |
Income tax excluding impact of special items | (2,024) | 1,673 | (16) |
Normalized income after tax | 1,684 | (1,622) | 45 |
Normalized income avail. to common | 1,684 | (1,622) | 45 |
Basic normalized EPS | 34 | (24) | 0.66 |
Diluted normalized EPS | 34 | (24) | 0.66 |
CASH FLOW
Fiscal Year Ending Dec 31 2010 | 2010 | 2009 | 2008 |
OPERATIONS | |||
Net income | 5,996 | (6,453) | (2,298) |
Depreciation/depletion | 238 | 579 | 483 |
Non-Cash items | (6,592) | 7,549 | 3,803 |
Cash taxes paid, supplemental | 0.31 | 7.87 | 1.59 |
Cash interest paid, supplemental | 198 | 388 | 747 |
Changes in working capital | 642 | (245) | (127) |
Total cash from operations | 584 | 516 | 549 |
INVESTING | |||
Capital expenditures | (38) | (33) | (71) |
Other investing and cash flow items, total | 0.93 | 0 | 4.32 |
Total cash from investing | (37) | (33) | (66) |
FINANCING | |||
Financing cash flow items | (17) | 0.12 | (10) |
Total cash dividends paid | -- | -- | -- |
Issuance (retirement) of stock, net | 0 | 0 | (6.11) |
Issuance (retirement) of debt, net | (1,068) | 52 | (381) |
Total cash from financing | (1,085) | 52 | (397) |
NET CHANGE IN CASH | |||
Foreign exchange effects | -- | -- | -- |
Net change in cash | (538) | 535 | 85 |
Net cash-begin balance/reserved for future use | 865 | 131 | 46 |
Net cash-end balance/reserved for future use | 327 | 666 | 131 |
SUPPLEMENTAL INCOME | |||
Depreciation, supplemental | 238 | 579 | 483 |
Cash interest paid, supplemental | 198 | 388 | 747 |
Cash taxes paid, supplemental | 0.31 | 7.87 | 1.59 |
Company Name | Form Type | Received | Period | Views | ||
DEX ONE CORP | 8-K | 11/17/2011 | 11/17/2011 | |||
DEX ONE CORP | 10-Q | 11/3/2011 | 9/30/2011 | |||
DEX ONE CORP | 8-K | 11/3/2011 | 11/3/2011 | |||
DEX ONE CORP | 8-K | 10/11/2011 | 10/10/2011 | |||
DEX ONE CORP Filer : MEAD ROBERT E | SC 13G | 9/30/2011 | N/A | |||
DEX ONE CORP | 8-K | 9/28/2011 | 9/28/2011 | |||
DEX ONE CORP Reporting Owner : FREIBERG GREGORY WILLIAM | 4 | 9/14/2011 | 9/12/2011 | |||
DEX ONE CORP Reporting Owner : FREIBERG GREGORY WILLIAM | 3 | 9/14/2011 | 9/12/2011 | |||
DEX ONE CORP | 8-K | 9/7/2011 | 9/6/2011 | |||
DEX ONE CORP | 8-K | 8/26/2011 | 8/23/2011 | |||
DEX ONE CORP | 10-Q | 8/4/2011 | 6/30/2011 | |||
DEX ONE CORP | 8-K | 7/28/2011 | 7/28/2011 | |||
DEX ONE CORP | 8-K/A | 7/22/2011 | 7/20/2011 | |||
DEX ONE CORP Filer : BLACKROCK INC. | SC 13G/A | 7/8/2011 | N/A | |||
DEX ONE CORP Reporting Owner : HANNA RICHARD | 4 | 5/27/2011 | 5/26/2011 | |||
DEX ONE CORP | 8-K | 5/26/2011 | 5/25/2011 | |||
DEX ONE CORP | 8-K | 5/6/2011 | 5/3/2011 | |||
DEX ONE CORP Reporting Owner : SCHULTZ ALAN F | 4 | 5/5/2011 | 5/3/2011 | |||
DEX ONE CORP Reporting Owner : MCEACHEN MARK ALLEN | 4 | 5/5/2011 | 5/3/2011 | |||
DEX ONE CORP Reporting Owner : LIDDELL W. KIRK | 4 | 5/5/2011 | 5/3/2011 |
Values ($) | % O/S | Shares | |
Top 10 Inst. | 143,985,350 | 68.52 | 34,282,226 |
Top 20 Inst. | 182,503,231.00 | 86.85 | 43,453,150 |
Top 50 Inst. | 210,445,216.00 | 100.15 | 50,106,003 |
Total Inst. | 216,956,295.00 | 103.25 | 51,656,260 |
Link to Ownership Profile
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DEXO- 6 MONTH DAILY CHART
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