Dex One reports larger 4th-quarter loss, hurt by impairment charges

Dex One posts larger 4Q loss, weighed by charges

CARY, N.C. — Dex One Corp., the marketing services company formerly known as R.H. Donnelley, posted a larger fourth-quarter net loss Thursday, dragged down by impairment charges and lower revenue.

The company, which exited Chapter 11 bankruptcy protection earlier this year, posted a net loss of $6 billion, or $87.05 per share, compared with a loss of $362.4 million, or $5.27 per share, in the same period a year earlier.

The results for the latest quarter include $7.3 billion in asset impairment charges. This represents the difference between the fair, or estimated actual value and the recorded value of the company’s directory services arrangements.

Revenue fell 21 percent to $500.8 million from $630.4 million.

“2009 was a challenging year in which the local media sector declined more than 20 percent, and our performance was in line with the national average,” said David C. Swanson, chairman and CEO, in a statement. He added that the company has “essentially completed all of the work associated with the successful reorganization” of its business

For the full year, Dex posted a loss of $6.45 billion, or $93.67 per share, compared with a loss of $2.3 billion, or $33.41 per share, a year earlier.

Revenue fell 16 percent to $2.2 billion from $2.62 billion.