August 5, 2010 / 2:11 PM / 7 years ago

UPDATE 1-Yellow Pages net falls; sees weaker customer confidence

* Q2 net income C$79.9 mln vs C$116.9 mln yr ago

* Revenue C$420.4 mln vs C$417.5 mln

* Sees 2011 cash earnings of $0.95-$1.00/shr

Aug 5 (Reuters) - Media and marketing company Yellow Pages Income Fund YLO_u.TO reported 32 percent drop in quarterly profit, hurt by acquisition-related costs, and said uncertainty in global recovery was dampening its customers’ confidence.

For fiscal 2011, the company sees consolidated adjusted revenue of C$1.68 billion ($1.65 billion) to C$1.70 billion.

It forecast 2011 cash earnings of 95 Canadian cents per share to C$1.00 per share.

For the second quarter, net income was C$79.9 million, compared with C$116.9 million a year ago. Revenue was rose to C$420.4 million from C$417.5 million.

Analysts on average were expecting revenue of C$407.1 million, according to Thomson Reuters I/B/E/S.

The company, which completed its acquisition of local search and directories publisher Canadian Phone Directories Holdings Inc (Canpages) in the quarter, said acquisition-related costs totalled C$19.9 million.

Units of the Verdun, Quebec-based company were up 1 percent at C$5.61 Thursday morning on the Toronto Stock Exchange.

$1=1.017 Canadian Dollar Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Anne Pallivathuckal

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