MONTREAL -- Yellow Pages Ltd. (TSX:Y) says its second-quarter results continue to reflect the impact of having fewer customers and less spending by its biggest customers.
The Montreal-based publisher of print directories and online information says overall revenue was down 7.2 per cent a year before, falling to $204.8 million.
It says digital revenues accounted for $116.4 million or 57 per cent of the total, while print revenue fell 21.3 per cent to $88.3 million.
At one time, Yellow Pages was best known for being Canada's largest publisher of directories distributed by phone companies but the business has been evolving as advertisers and consumers turn to search engines and other digital technologies.
In the second quarter ended June 30, Yellow Pages net income fell to $16.5 million or 62 cents per share, down from $27.6 million or $1.01 per share, and free cash flow dropped to $17.4 million from $42.1 million.
The company says its objective is to return to revenue and earnings growth in 2018.
