Big Changes Underway at Dex Media
March 12, 2015 | Contributed by: Neg Norton
During this morning’s earnings call, CEO Joe Walsh and CFO Paul Rouse outlined some bold initiatives at Dex Media that are set to transform the company on both the revenue and expense sides of the ledger.
Several of the revenue initiatives focused on improvements to their owned and operated products – things like product simplification, more readable type in directories, improved print directory packaging, sales recruiting and training improvements and a redesign of their IYP offerings.
In regards to expenses, Dex plans to streamline its customer interaction processes, expand telephone sales and shed physical sales offices. These moves are intended to increase sales productivity and effectiveness while reducing cost.
Walsh also mentioned that 38% of Dex clients buy digital and those with multi-product bundles tend to spend more and renew at higher rates. He also shared some insight into the full year 2014 earnings. Highlights include:
- 9.2% digital ad sales growth
- $388M net cash provided by operating activities
- $381M bank debt retired
- $43M business transformation costs recognized
It’ll be interesting to watch how successful these changes will be. I’ll have the opportunity to dive into much of this with Joe during our fireside chat at LSA|15 on Tuesday, April 21 in LA. What would you like me to ask him?