Mon, Feb. 9, 12:48 PM
- Dex Media (DXM +7.4%) is bouncing, now up 8.7% from recent lows a week ago, and up 20.5% from its 52-week low.
- The company reports Q4 earnings premarket March 12; For Q3, the company reported adjusted EBITDA of $167M (on a 36.9% margin) and a GAAP net loss of $59M.
- For the nine months ended in Q3, the firm had retired $314M of bank debt and grew digital ad sales by 10.9%.
Fri, Jan. 30, 6:41 PM
- Dex Media (NASDAQ:DXM) fell 7% in trading today, hitting levels last seen in April. Shares fell 24% over the whole of January.
- Earlier today, Dex filed a Q4 report for one-time merger partner SuperMedia, done to comply with the reporting requirements of the Delaware court that handled Dex/SuperMedia's 2013 Chap. 11 filing. The report states SuperMedia had cash/equivalents of $64.7M at the end of December, $270.4M in cash available, and $2.49B in notes receivable.
Thu, Jan. 15, 11:27 AM
- John Wholey, formerly the head of U.S. operations for U.K. directory services provider Hibu, has been named Dex Media's (DXM -1.7%) EVP of operations and client services
- Wholey replaces Mark Cairns, who's moving over to the role of EVP of integration and client experience just two months after being named EVP of operations himself.
- CEO Joe Walsh: "John's track record for reducing operational costs while continually enhancing client service fits perfectly with our goals for transformation at Dex." Since being named CEO in October, Walsh has already announced a management shakeup and huge job cuts.
Dec. 11, 2014, 12:47 PM
- Dex Media (NASDAQ:DXM) plans "workforce reductions and job reassignments through 2015 that will impact approximately 1,000 employees or 25% of the company's employee base, including 350 field sales representatives."
- The company expects restructuring costs of $70M-$100M, and to eventually achieve cost savings of $130M-$150M/year ($90M-$110M/year within 2015). In addition, management "expects to identify further expense reductions in 2016 and beyond."
- Dex, which had $2.4B in debt at the end of Q3, says it now "expects to begin deleveraging." It also plans to overhaul its sales ops - among other things, a "virtual sales office" will be created, sales processes will be automated, and a management layer will be eliminated - and introduce a slew of product changes meant to boost ad sales.
- The shakeup comes two months after Joe Walsh was named CEO.
Nov. 5, 2014, 12:27 PM
- Dex Media (NASDAQ:DXM) is up sharply a day after posting Q3 results and announcing a huge management shakeup that included a CFO change.
- On a merger-adjusted basis, Dex's ad revenue fell 12.5% Y/Y in Q3 - print revenue fell 22.2%, and digital revenue grew 10.3%. Adjusted EBITDA margin fell to 36.9% from 40.4% a year ago.
- $314M in bank debt was retired in Q3. Dex ended Q3 with $2.4B in debt, and $145M in cash.
- The company's Q3 10-Q was posted this morning.
Nov. 4, 2014, 9:04 AM
- New CEO Joe Walsh isn't wasting time in leaving his mark on Dex Media (NASDAQ:DXM). CFO Samuel D. Jones is being replaced by Paul Rouse, formerly the CFO of juice maker Apple and Eve. Several other C-Suite changes have also been announced.
- Among them: 1) Del Humenik, named COO only in May, is now Dex's chief revenue officer (i.e. sales chief). 2) Mark Cairns, formerly a principal at consulting firm Treales, has been named EVP of operations and client services. 3) Gordon Henry, formerly a senior adviser at Walsh's investment firm (Walsh Partners), has been named chief marketing officer.
Nov. 4, 2014, 7:19 AM
Oct. 14, 2014, 6:52 PM
- Joe Walsh, the CEO of yellow pages provider Yellowbook from 1993-2011, is Dex Media's (NASDAQ:DXM) new CEO.
- Walsh replaces Peter McDonald, 64, who has been Dex's CEO since last year's Dex One/SuperMedia merger. Before that, McDonald was SuperMedia's CEO for 3 years.
- The CEO change follows the May appointment of Del Humenik as COO.
Aug. 11, 2014, 7:12 AM
Jul. 1, 2014, 5:36 PM
May. 28, 2014, 4:18 PM
- Del Humenik, formerly Dex Media's (DXM) EVP of sales/marketing, has been appointed to the newly-created position of COO.
- Humenik's new job puts him in charge of "all client-facing functions, including sales, marketing, operations and technology."
- Previous: Dex Media soars on Q1 results, digital ad growth
May. 6, 2014, 12:45 PM
May. 6, 2014, 12:09 PM
- Though Dex Media's (DXM +25.8%) non-GAAP revenue fell 16% Y/Y in Q1, its digital ad sales growth improved to 8.5% Y/Y from Q4's 5.1%. Print ad sales fell 19.7% vs. Q4's 19.1%.
- Adjusted EBITDA margin rose 30 bps Y/Y to 39.9%. Adjusted free cash flow was $97M, down from $110M a year ago.
- After paying down $74M worth of bank debt during the quarter, Dex ended Q1 with $179M in cash (up from $156M at the end of Q4), and over $2.6B in debt.
- Over a third of the float was shorted as of April 15, providing ample fuel for a squeeze.
- Q1 results, PR
May. 6, 2014, 7:57 AM
Mar. 13, 2014, 12:48 PM
Mar. 13, 2014, 8:04 AM
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