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R.H. Donnelley's revenue declines

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R.H. Donnelley, the bankrupt yellow pages publisher, reported that its business continued to suffer during the second quarter.

Late Tuesday, the Cary company announced that second-quarter revenue fell to $565.6 million, down 15 percent from the same period last year.

Ad sales declined 23 percent. The company reported a net loss of $75.5 million.

Donnelley, which publishes yellow pages directories in 28 states, filed for bankruptcy protection in May. The company was hurt by advertisers shifting to the Internet and slumping demand as the recession worsened.

The company expects to shed about $6.4 billion in debt while reorganizing and emerge from bankruptcy in early 2010.

"While the local ad sales environment remained very challenging, we made significant headway on several business priorities in the quarter," said CEO David C. Swanson, in a prepared statement. That included a new, three-year union contract and cutting costs.

Donnelley has about 3,800 employees, including 450 in the Triangle. The company moved its headquarters to Cary from New York in 2003.

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About the blogger

Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or e-mail him.
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