May 18, 2010 - Local Insight Regatta Holdings, Inc. Reports First Quarter 2010 Results
DENVER, COLORADO - May 18, 2010 - Local Insight Regatta Holdings, Inc. ("LIRH" or the "Company") today announced consolidated results for the three months ended March 31, 2010.
"We achieved a significant milestone in the first quarter, launching Berry LeadsTM, our holistic new local leads business model," said Scott Pomeroy, President and CEO, LIRH. "The launch represents the culmination of nearly two years of strategic research, market testing and a re- engineering of virtually all aspects of our business. As a result of our comprehensive preparation and planning, we believe we are now uniquely positioned to deliver print and digital solutions to our clients, using a year-round consultative sales approach. Accounts closed so far under Berry Leads reflect a 90 percent increase in sales of our digital solution set, an improving trend in print performance and overall net positive growth.
"Because of the phased roll-out of our new business model and our revenue recognition methodology, the impact of Berry Leads will be realized in future quarters," Pomeroy said. "As expected, first quarter results continue to reflect cyclical pressures, which are more pronounced in some markets than others, as well as the investments we continue to make in Berry Leads."
To review the complete release, please download the pdf here.
Conference Call Replay Below