Dex One's CEO Discusses Q4 2011 Results - Earnings Call Transcript
We encourage you to review these materials and the company's other periodic filings with the SEC, which set forth important risks and other factors that could cause actual results to differ materially from those contained in or suggested by any forward-looking statements. Electronic versions of Dex One's SEC filings can be obtained by contacting us or visiting dexone.com or visiting the SEC's website at sec.gov. Copies of the news release and results information package can also be found under the Investor Relations tab at dexone.com.
Commencing on February 1, 2010, the company adopted fresh start accounting as required under GAAP, which had a significant impact on the reported results of operations in that year. These reported results were not indicative of our underlying operating or -- and financial performance and are not comparable to any prior or subsequent period presentation.
During the call today, we will refer to certain adjusted figures that are non-GAAP financial measures such as expenses, EBITDA, free cash flow and net debt. Some of these exclude items such as impairment charges, stock-based compensation and long-term incentive program expenses, fair value adjustments and the impact of fresh start accounting. Additional information about non-GAAP financial measures as well as a reconciliation between these items and the comparable GAAP measures can be found in the press release and related 8-K furnished to the SEC.
One final reminder, this call is the property of Dex One Corporation and any retransmission or broadcast without the expressed consent of the company is strictly prohibited.I would now like to turn the call over to Alfred.Alfred T. MockettThank you, Tyler, and good morning, everyone. We are pleased to share with you our full year and fourth quarter results. Entering 2011, we identified several key areas of focus and we have made significant progress on each of them. First, as part of our effort to establish a 21st century sales force, we completed a major sales refresh by replacing approximately 40% of our sales force, with digitally savvy individuals, who can sell integrated offerings. We established the Dex One Sales Academy with a continuous learning digital curriculum, online training, podcast and other e-learning tools and recruited, trained and deployed digital-only sales teams in our major markets and in 2 pilot markets outside of our footprint.
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