SuperMedia Announces Fourth Quarter and Full Year 2012 Results

2012 Year-end Summary

• Dex One merger transaction on course
• Operating income of $440 million and operating margin of 32.5 percent
• Operating revenue of $1,354 million
• Total debt reduced by $303 million during 2012

DALLAS–(BUSINESS WIRE)– SuperMedia (NAS: SPMD) today announced its financial results for the fourth quarter and full year 2012.

“Our merger with Dex One remains on track and we expect to close the transaction in the first half of 2013,” said Peter McDonald, president and CEO of SuperMedia. “The transaction represents an opportunity to improve the combined companies’ positioning for growth, quality and productivity and results in a strengthened balance sheet.

“As I look back at the last few years, I’m pleased with our efforts and results from a cost control perspective. Looking forward, we will continue to aggressively manage the new company’s cost structure, and will focus on top line results. The success of Dex Media will come down to our ability to execute on our strategy of helping businesses grow by using a complete suite of social, local and mobile marketing solutions.”

Merger Update

SuperMedia and Dex One Corporation (“Dex”) announced the execution of a definitive agreement to combine in a stock-for-stock merger of equals on August 21, 2012.¹ On March 17, 2013, each of SuperMedia and Dex and all of their domestic subsidiaries filed a voluntary “pre-packaged” bankruptcy petition in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court“), each seeking relief pursuant to a prepackaged plan of reorganization under the provisions of Chapter 11 of title 11 of the United States Code. The bankruptcy petition seeks the Bankruptcy Court‘s approval of the prepackaged plan in order to effect the proposed merger.

The prepackaged plans are an alternative means by which to …read more
Source: FULL ARTICLE at DailyFinance