Yellow Pages Reports Huge Four Quarter Loss

increased its loss to $586.3 million or $22.33 per share in the fourth quarter, compared with a loss of $431.6 million or $16.35 per share last year.

Net losses in the fourth quarter of 2017 and 2016 are mainly attributed to charges of $507 million and $600 million recorded in the fourth quarter of 2017 and 2016, respectively, related to the write-down of intangible assets and goodwill.

Quarterly revenues increased from 202.7 million a year ago to 183.8 million this year.

This 9.4% decline is mainly attributed to lower print revenues in the YP sector. Media revenues and digital solutions totaled $137 million, down 4.3% from the same period last year due to decreases in the YP segment.

Printed revenues decreased 21.6% year-over-year to $46.7 million as a result of a decline in print media customers resulting from the transition of marketing expenses printed to digital marketing.

Total revenue decreased 8.8% year-over-year to $745.9 million for the year ended December 31, 2017, primarily due to lower print revenues .

The net loss was $589.3 million, a diluted loss of $22.32 per share for the year ended December 31, 2017, compared to a net loss of $403.7 million, a diluted loss of 15, $ 23 per share for the corresponding period last year.

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About the Author: Francis E. Hagopian

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