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The Dolan Company Reports Second Quarter 2012 Results

This guidance presumes no acquisitions for the remainder of 2012. It also assumes that there will be no additional material effect on results of operations from foreclosure-related government legislation, programs, investigations, litigation, or settlements, or from lender-based programs or halts. These include, but are not limited to, legislation, programs, and other matters detailed in “Regulatory Environment” and “Risk Factors” in the company’s 2011 Form 10-K, filed March 9, 2012, with the U.S. Securities and Exchange Commission.

Second Quarter 2012

Financial results for the three months ended June 30, 2012, and 2011 are as follows:

Dollars in thousands, except per share data  

Three Months

  Three Months   Year-over-
Ended Ended Year %
June 30, 2012 June 30, 2011 Change

(unaudited)

(unaudited)

Total revenues $ 63,763 $ 68,387

(6.8)

%

Professional Services Division revenues 44,310 48,416

(8.5)

%

Business Information Division revenues 19,453 19,971

(2.6)

%

Operating income (1) 11,978 5,785 107.1 %
Net income attributable to The Dolan Company 4,917 2,572 91.2 %
Adjusted EBITDA * 10,085 12,972

(22.3)

%

Income from continuing operations attributable to The Dolan Company per diluted share

$

0.16

$

0.09

77.8

%

Cash earnings * 2,640 5,983

(55.9)

%

Cash earnings per diluted share * $ 0.09 $ 0.20

(55.0)

%

 

* Please refer to the “Non-GAAP Financial Measures” below for a reconciliation of these non-GAAP financial measures to GAAP and why the company believes these are important measures of its performance.

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