- Dex Media (DXM) has opened with a crash, down 53.9%, after posting a $59M Q1 loss (-$3.39/share) on revenues that slipped 11% from the prior year amid sinking ad sales.
- Ad sales were in decline across the board, with print ad sales down 26% and digital ad sales down 29.6%. The company thinks several factors were at work, including temporary dislocation as managers adjusted to new geographies and teams, and "right sizing" the sales force meant reassignment of accounts.
- The company had just revealed its sales chief resigned Tuesday.
- Free cash flow was $43M and cash balance at quarter's end was $171M.
- The company is guiding to current-quarter revenue of $390M-$410M and adjusted EBITDA of $140M-$150M.
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Conference call at 10 a.m. ET.
- Press Release
- Previously: Dex Media slides 10.8%; sales chief has resigned (May. 06 2015)