As I look at the third quarter, there are 3 key headlines. First, we have continued to address the expense side of the business, and our margins for the third quarter were 39.3% versus 35.2% on an adjusted basis Q3 year-over-year. Next, ad sales continue to be in the mid-teen decline year-over-year. And finally, we are excited about our new approach to the marketplace and are encouraged by some of the early results we are seeing in our trials.Now looking at expenses. I'm encouraged that across the business, in all departments, we are seeing our teams find efficiencies. In real estate, we consolidated locations and negotiated better deals. In marketing, we've improved our distribution and exited markets that were not meeting our standards for profitability. Our digital group has found ways to improve the cost for acquiring traffic, and our sales departments have found smarter ways to service our customers by restructuring to a closer, more geocoded approach. The list goes on as we continue to find opportunities to improve our cost structure by challenging everything we do.
SuperMedia's CEO Discusses Q3 2011 Results - Earnings Call Transcript
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