November 4, 2009 / 1:47 PM / in 8 years

UPDATE 2-Yellow Pages posts Q3 loss on impairment charges

* Q3 loss/unit C$0.33 vs income C$0.28/unit yr-ago

* Revenue falls 4 pct

* Q3 distributable cash per unit C$0.35

* Shares fall as much as 2 pct (Adds details)

Nov 4 (Reuters) - Canada’s Yellow Pages Income Fund YLO_u.TO posted a quarterly loss on Wednesday, hurt primarily by a goodwill impairment charge.

For the latest third quarter, the company reported a loss of C$168.8 million, or 33 Canadian cents per basic unit, compared with a profit of C$146.1 million, or 28 Canadian cents per basic unit, a year earlier.

Revenue fell 4 percent to C$408.3 million.

Analysts on average were expecting earnings of 27 Canadian cents per unit, before special items, on revenue of C$417.1 million, according to Thomson Reuters I/B/E/S.

Excluding a goodwill impairment charge of C$315 million related to its unit Trader Corp, the company said it earned C$146.2 million in the quarter.

Distributable cash for the third quarter was C$179.2 million, or 35 Canadian cents per unit.

The largest publisher of telephone directories in Canada said adjusted revenue from its directories segment was up 1 percent at C$348.6 million.

However, the economic downturn continued to hurt its vertical media segment and revenue at classified publisher, Trader were C$61.5 million, down 25 percent from a year ago quarter.

Online revenues for both segments grew 25 percent to C$78 million.

Yellow Pages said it launched a new version of its local search application, YellowPages.ca for the Apple iPhone during the quarter and that more than 500,000 downloads of the iPhone and Blackberry applications were reported.

Units of the Montreal, Quebec-based company were down 4 Canadian cents at C$5.31 on the Toronto Stock Exchange. They touched a low of C$5.24 earlier. (Reporting by Koustav Samanta and Ashutosh Joshi in Bangalore; Editing by Maju Samuel and Gopakumar Warrier)

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