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Dex One Management Discusses Q2 2012 Results - Earnings Call Transcript

We successfully retired $470 million of debt in the first half of the year and we expect to retire an additional $50 million by year end. We remain on track to achieve our guidance.

The cultural shift we have driven within our most critical asset, our sales force, clearly has traction. The investments we've made in digital, in training, tools, technology, products and services are producing the results we all anticipated.

During the quarter, we completed the roll out of our Bundle Builder iPad app to all sales professionals across the company. We deployed iPads to our sales force almost 2 years ago and people asked, "Why?" The answer is compelling on 2 fronts: Firstly, it makes Dex One products and services easier to buy and easier to sell, improving the adoption rate for Bundles by utilizing our value presentation and iPad app. Secondly and importantly, selling Bundles on the iPad has lifted the productivity of our sales force across the board, veterans and new hires alike.

Our Digital portfolio is opening up new groups of target customers. This is important because it takes us beyond our traditional customer base, opening new markets and segments, bringing in new customers. For example, last month, we gained a new client in the business sector we would have never encountered in the past, DNA testing. This customer purchased an array of digital services including SEM and digital display ads to better promote their business.

Our sales forces is our most important asset, and with their successful transformation to a digitally savvy team, we are building on this asset. This transformation is critical as print ad sales continue to decline as we managed the secular shift from print to digital. The effectiveness of Bundles cannot be overestimated. I said a number of times, Bundles make it easier for us to sell and easier for the customer to buy. In addition with Bundles, we see the rate of decline in print moderating within the Bundle from customer who spend more.

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