R.H. Donnelley Sales Soar; Taxes Delay Full Results
R.H. Donnelley Corp., the biggest independent U.S. publisher of Yellow Pages directories, said fourth-quarter sales more than doubled, helped by its acquisition of Dex Media Inc.
Sales rose to $618.9 million from $261.1 million a year earlier, the Cary, North Carolina-based company said today in a statement. The company said it delayed reporting profit as it determines how to account for $30 million in state taxes.
Donnelley bought Dex in January 2006 for $4.2 billion to expand into U.S. Midwest markets. The company repaid $662 million in debt during the past year, lowering the outstanding amount to about $10.2 billion as of Dec. 31.
Shares of Donnelley fell 93 cents, or 1.3 percent, to $70.62 at 4 p.m. in New York Stock Exchange composite trading. They've risen 17 percent in the past year.
For this year, the company repeated a 2007 forecast for revenue of $2.67 billion, less than the $2.7 billion average estimate of six analysts.
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