CARY, N.C. – Dex One Corporation (NYSE: DEXO) posted net income of $52.9 million on $334.5 million in net revenue in the second quarter, according to an earnings announcement released on Wednesday.
That compares to a net loss of $602.1 million on revenue of $377.3 million in the same quarter of 2011.
Dex One reported second quarter results for the year highlighted by strong digital sales performance. Ad sales for the quarter were one point better than expected at minus 12 percent.
Although quarterly bookings declined 13 percent, digital bookings increased 53 percent. The company’s revenue decline slowed to 11 percent.
The company expects the digital bookings growth rate to continue in excess of 30 percent for the balance of the year. In the quarter, bundles represented 58 percent of total bookings and are on track to generate more than half of all bookings by year end.
“We remain focused on transforming Dex One into a leading marketing services company,” said Alfred Mockett, Dex One CEO. “Our performance in the quarter demonstrates our efforts are paying off.”
Net income, cash flow from operations and total debt (including fair value discount) in the second quarter were $53 million, $86 million and $2,069 million, respectively.
