InfoGroup reports 18% revenue decline in Q2
InfoGroup reported an 18% decline in revenue for second quarter 2009 ending on June 30, 2009. The data and marketing giant's final delivered revenue for the quarter was $122.2 million.Despite the decline, CEO Bill Fairfield was positive about the future, saying in a statement: "We continue to remain ahead of schedule on our cost savings plans and outpace our original expectations."
During Q2 InfoGroup reported a $12.5 million line item for restructuring, non-recurring and non-cash charges. Many related to legal and professional fees related to the SEC investigation and restructuring costs for severance associated with headcount reductions and facility closures.
Fairfield said he was “cautiously optimistic” about the resurfacing positive attitude in the marketplace.
