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TheStreet Open House

SuperMedia Announces Second Quarter 2012 Results

1 Advertising sales for the three and six months ended June 30, 2011, include negative adjustments of $2 million and $11 million, respectively, related to the financial distress and operational wind down of a single certified marketing representative in our third-party national sales channel. Excluding this impact, advertising sales for the three and six months ended June 30, 2012, would have reflected a decline of 19.7% and 19.5%, respectively, compared to a decline of 15.9% and 15.7% for the three and six months ended June 30, 2011, respectively. As of June 2011, these accounts were transitioned to other certified marketing representative firms.

2 Advertising sales for the three and six months ended June 30, 2011, include negative adjustments of $2 million and $11 million, respectively, related to the financial distress and operational wind down of a single certified marketing representative in our third-party national sales channel. Excluding this impact, advertising sales for the three and six months ended June 30, 2012, would have reflected a decline of 19.7% and 19.5%, respectively, compared to a decline of 15.9% and 15.7% for the three and six months ended June 30, 2011, respectively. As of June 2011, these accounts were transitioned to other certified marketing representative firms.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements.

These forward-looking statements include statements that reflect the current views of our senior management with respect to our financial performance and future events with respect to our business and industry in general. Statements that include the words “may,” “will,” “could,” “should,” “would,” “believe,” “anticipate,” “forecast,” “estimate,” “expect,” “preliminary,” “intend,” “plan,” “project,” “outlook” and similar statements of a future or forward-looking nature identify forward-looking statements. Forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these financial statements. We believe that these factors include, but are not limited to, the risks related to the following:

  • Our inability to provide assurance for the long-term continued viability of our business;
  • Reduced advertising spending and increased contract cancellations by our clients, which causes reduced revenue;
  • Declining use of print yellow pages directories by consumers;
  • Competition from other yellow pages directory publishers and other traditional and new media;
  • Our ability to anticipate or respond to changes in technology and user preferences;
  • Changes in our operating performance;
  • Limitations on our operating and strategic flexibility and the ability to operate our business, finance our capital needs or expand business strategies under the terms of our credit agreement;
  • Failure to comply with the financial covenants and other restrictive covenants in our credit agreement;
  • Limited access to capital markets and increased borrowing costs resulting from our leveraged capital structure and debt ratings;
  • Changes in the availability and cost of paper and other raw materials used to print our directories;
  • Our reliance on third-party providers for printing, publishing and distribution services;
  • Credit risk associated with our reliance on small- and medium-sized businesses as clients;
  • Our ability to attract and retain qualified key personnel;
  • Our ability to maintain good relations with our unionized employees;
  • Changes in labor, business, political and economic conditions;
  • Changes in governmental regulations and policies and actions of federal, state and local municipalities; and
  • The outcome of pending or future litigation and other claims.

The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in the reports we file with the Securities and Exchange Commission (“SEC”), including the information in “Item 1A. Risk Factors” in Part I of our Annual Report on Form 10-K for the year ended December 31, 2011 and in all subsequent filings with the SEC. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. All forward-looking statements included in this report are expressly qualified in their entirety by these cautionary statements. The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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