News
09/02/2007 - Idearc revenues, net income down in 4Q, all of 2006
Idearc Inc., which was spun off from Verizon in November, said Thursday its revenues and net income declined in the fourth quarter and all of 2006, as growth in Internet business failed to offset declines in the company’s printed Yellow Pages books.
Idearc, headquartered at Dallas/Fort Worth Airport, earned $99 million, or 68 cents a share, in the fourth quarter, down 58 percent from a year earlier. For the year, Idearc earned $772 million, or $5.29 a share, down 25 percent. Revenues slipped 4.5 percent to $3.2 billion.
The company said expenses related to its spin-off generated $49 million in one-time, after-tax expenses in the quarter. The reported results were slightly under Wall Street estimates, and the company’s shares (ticker: IAR) were down about 2 percent in early trading.
Idearc is the second-largest publisher of Yellow Pages directories, with books in 81 of the country’s 100 largest markets, and operates the SuperPages.com online Yellow Pages site.
http://www.dfw.com/mld/dfw/news/16653846.htm
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