R.H. Donnelley Drops After Profit Misses Estimates
R.H. Donnelley Corp., publisher of the Yellow Pages phone directories, dropped the most in 18 years after third-quarter profit missed analysts' estimates.
Net income was $18.1 million, or 25 cents a share, Cary, North Carolina-based Donnelley said today in a statement. Analysts predicted earnings of 28 cents a share, the average of seven estimates compiled by Bloomberg.
The shares declined $7.24 to $53.59 at 4 p.m. in New York Stock Exchange composite trading, a decline of 12 percent, their biggest drop since November 1989. The shares have lost 15 percent this year.
The company reported a loss $35.4 million, or 51 cents, in the year-ago period.
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