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TheStreet Open House

PRIMEDIA Inc. Q2 2010 Earnings Call Transcript

PRIMEDIA Inc. (PRM)

Q2 2010 Earnings Call

August 05, 2010 10:00 am ET

Executives

Jeff Grossman - IR

Charles Stubbs - President, CEO

Kim Payne - CFO

Analyst

John Carlin - Gulf Stream Asset Management

Presentation

Operator

Welcome to the PRIMEDIA Inc. Second Quarter 2010 Earnings Conference Call. (Operator Instructions) I would now like to turn the conference over to Mr. Jeff Grossman PRIMEDIA's Investor Relations, contact. Please go ahead sir.

Jeff Grossman

Good morning and welcome to PRIMEDIA’s 2010 second quarter earning conference call. I am pleased to be joined by Charles Stubbs, our President and CEO and Kim Payne, our CFO, along with other members of senior management. As always, we refer you to the section of our earnings release entitled Forward-Looking Statements for important factors that apply to and qualify any forward-looking statements made on this conference call. In addition, any non-GAAP financial measures mentioned on this call are reconciled to GAAP in our earnings release. Let me now turn the call over to the Charles Stubbs.

Charles Stubbs

Hello everyone, and thank you for joining us on today’s call to discuss our company's second quarter 2010 results. First, I would like to update you about our positive progress in executive against our operational and strategic initiative. And our CFO, Kim Payne will follow with additional details on our financial performance. We are very pleased with significant progress we continue to make in transitioning our enterprise into the premier online source for consumers and advertisers in the rental space. There were a number of operational highlights over the quarter as we expanded our reach in consumer audience, enhanced our product offering, gained client count and increased lead for advertisers. We accomplished all of this while increasing the company's productivity and efficiency. Simply put, we continue to maintain our strategic focus by investing in our internet platform while reducing our cost structure to drive positive financial results.

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