On March 21, 2013, the Board of Directors of Yellow Media and Marc P. Tellier agreed that Mr. Tellier will be leaving the position of President and Chief Executive Officer. Mr. Tellier will remain with the Company until the new CEO is appointed, but no later than August 15, 2013. A search committee of the Board has been appointed to undertake the search for a new Chief Executive Officer. Mr. Tellier will not stand for re-election to the current Board of Directors.
"I would like to thank Marc for his leadership and years of devoted service to YPG. During his tenure, Yellow Media evolved from a single-product publisher in Ontario and Quebec to become a national, diversified digital marketing solutions company," said Robert MacLellan, Chairman of the Board of Directors of Yellow Media. "The recruitment process for a new CEO is currently in place, and our objective is to find a leader with a focus on execution and who will allow Yellow Media to advance in its digital transformation."
Investor Conference Call
Yellow Media Limited will hold an analyst and media call at 2:00 p.m. (Eastern Time) on May 7, 2013 to discuss the first quarter 2013 results. The call may be accessed by dialing (416) 340-2218 within the Toronto area, or 1 866 226-1793 outside of Toronto.
The call will be simultaneously webcast on the Company's website at http://www.ypg.com/en/investors/financial-reports/2013/quarterly-reports/first-quarter-webcast
The conference call will be archived in the Investor Center of the site at www.ypg.com.
A playback of the call can also be accessed from May 7 to May 14, 2013 by dialing (905) 694-9451 within the Toronto area, or 1 800 408-3053 outside Toronto.
The conference passcode is 1605088.
About Yellow Media Limited
Yellow Media Limited (TSX: Y) is a leading media and marketing solutions company in Canada. The Company owns and operates some of Canada's leading properties and publications including Yellow Pages™ print directories, YellowPages.ca™, Canada411.ca and RedFlagDeals.com™. Its online destinations reach 8.5 million unique visitors monthly and its mobile applications for finding local businesses and deals have been downloaded over 5.5 million times. Yellow Media Limited is also a leader in national digital advertising through Mediative, a digital advertising and marketing solutions provider to national agencies and advertisers. For more information, visit www.ypg.com.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements about the objectives, strategies, financial conditions, results of operations and businesses of the Company. These statements are forward-looking as they are based on our current expectations, as at May 7, 2013, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 6 of our May 7, 2013 Management's Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason.
Financial Highlights
(in thousands of Canadian dollars - except share and per share information)
---------------------------------------------------------------------------- For the three-month periods ended March 31,Yellow Media Limited 2013 2012----------------------------------------------------------------------------Revenues $253,277 $289,073Income (loss) from operations $95,595 ($2,853,054)Net earnings (loss) $53,465 ($2,871,821)Basic earnings (loss) per share attributable to common shareholders $1.91 ($102.93)Cash flow from operating activities $86,588 $22,407----------------------------------------------------------------------------EBITDA(1) $115,478 $144,874EBITDA margin(1) 45.6% 50.1%----------------------------------------------------------------------------Weighted average number of common shares outstanding 27,955,077 27,955,077----------------------------------------------------------------------------
Non-IFRS Measures(1)
In order to provide a better understanding of the results, the Company uses the term EBITDA, defined as income from operations before depreciation and amortization, impairment of goodwill and restructuring and special charges. Management believes this measure is reflective of ongoing operations. This term is not a performance measure defined under IFRS. EBITDA does not have any standardized meaning and is therefore not likely to be comparable to similar measures used by other publicly traded companies. Management believes EBITDA to be an important measure.
Contacts:
Investor Relations
Amanda Di Gironimo
Senior Manager, Corporate Finance
and Investor Relations
(514) 934-2680
Amanda.DiGironimo@ypg.com
Media
Fiona Story
Senior Manager, Public Relations
(514) 934-2672
Fiona.Story@ypg.com
