Advertising sales at digital and yellow pages firm Dex One (NYSE: DEXO) fell 15 percent in the second quarter to $366 million from a year ago, but the firm’s chief executive office said the number was what he expected.

“Second quarter sales results met expectations amid continued difficult local business conditions,” Alfred Mockett said in a statement about quarterly earnings. “We continued to post industry leading margins and further reduced expenses due to rigorous cost management.”

The company reported $377 million in net revenues.

Read here for the financials.

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