Yellow Media Inc. had a $67.7-million profit in the second quarter, the publisher of online and paper directories announced Thursday.
The profit amounted to nine cents per diluted share and compared with a year-earlier loss of five cents per share.
A number of factors contributed to the improvement from last year including lower operating costs, reduced restructuring costs and a smaller provision for income taxes.
The year-earlier loss in the second quarter of 2011 was $20.7 million if only Yellow Media’s continuing operations are counted or $14.2 million if a profit from discontinued operations is included.
The company sold its Trader subsidiary last year in a $745 million deal that closed in the third quarter of fiscal 2011. It also sold the LesPac classified ad website to e-commerce firm Mediagrif Interactive Technologies Inc. in November.
Yellow Media’s revenue in the second quarter ended June 30 fell 16.4% to $286.5 million from $342.7 million a year earlier, mainly due to lower print revenues and the divestitures.
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