April 9, 2010 - Local Insight Regatta Holdings, Inc. Reports Fourth Quarter and Full Year 2009 Results
DENVER, COLORADO - April 9, 2010 - Local Insight Regatta Holdings, Inc. ("LIRH" or the "Company") today announced consolidated results for the three and twelve months ended December 31, 2009.
"Our fourth quarter and full-year financial performance was solid and in line with expectations," said Scott Pomeroy, President and CEO, Local Insight Regatta Holdings. "Full-year 2009 EBITDA-as adjusted was $100 million. EBITDA ramped over the year as expected, with stronger performance in the second half of the year than in the first half.
"From an operational perspective, we continue to make excellent progress in transforming our business from a legacy print publisher to a multi-platform lead generator that we expect will serve as an 'agency of record' for small and medium-sized businesses. We took advantage of the economic conditions in 2009 to accelerate our planning. We conducted research, completed market trials, re-engineered our product portfolio, negotiated vendor partnerships, designed new go-to-market training for our sales team, implemented a new technology platform and redefined our cost structure. Essentially, we re-engineered virtually all aspects of our business in preparation for Berry Leads(TM), our new business model, which we introduced as planned in February, launching a phased market roll-out that will continue through the remainder of 2010 and early 2011."
To review the complete release, please download the pdf here.
Conference Call Replay Below