This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Dolan Company Reports Fourth Quarter And Year-End 2012 Results

Stocks in this article: DM

Business Information Division revenues for the fourth quarter of 2012 were $18.2 million, an 8.8% decrease from $19.9 million in the fourth quarter of 2011. The majority of the decrease was driven by lower public notice revenue.

Direct operating expenses for the Business Information Division were $7.1 million during the fourth quarter of 2012, essentially flat compared to $7.2 million last year. In addition, selling, general and administrative expenses of $8.4 million were comparable to last year.

Balance Sheet and Liquidity

As of December 31, 2012, the company held $3.5 million of cash and cash equivalents, compared to $0.8 million at the end of 2011. During the fourth quarter of 2012, the company generated $15.6 million of cash from operating activities and $13.1 million of free cash flow, which is defined as net cash provided by operating activities minus capital expenditures. Quarterly capital expenditures were $2.5 million. Days sales outstanding were 92.7 days for the fourth quarter of 2012, which was up from 85.7 days in the fourth quarter of last year. DSO increased primarily from a slowdown of payments received from NDeX’s law firm customers as they experience delays in the foreclosure process and taking files to sale. During the year ended December 31, 2012, the company generated $36.7 million of cash from operating activities and $29.2 million of free cash flow. Annual capital expenditures were $7.5 million.

Total debt outstanding at the end of the fourth quarter was $166.0 million, of which $137.5 million was under a term loan facility. Net debt was $162.5 million, down $13.1 million from the end of 2011. At December 31, 2012, the combined weighted-average interest rate on the company’s credit facilities was 5.3%. The leverage ratio at the end of the quarter was 4.2 times total debt to trailing twelve month pro forma adjusted EBITDA, up from 2.7 times as of December 31, 2011, but within the maximum of 4.5 times allowed under the senior debt covenants for that period.

5 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs