Good morning and welcome to Dex Media’s Second Quarter 2015 Conference Call, which will include prepared remarks only. With me today are Joe Walsh, President and Chief Executive Officer; and Paul Rouse, Chief Financial Officer and Treasurer. Some statements made by the company today during this call are forward-looking statements. These statements include the company’s beliefs and expectations as to future events and trends affecting the company’s business and are subject to risks and uncertainties. The company advises you not to place undue reliance on these forward-looking statements and to consider them in light of the factors that could cause actual results to differ materially from those in the forward-looking statement. These factors are listed at the beginning of this presentation a well as in reports filed by Dex Media with the Securities and Exchange Commission. The Company has no obligation to update any forward-looking statement. I would now like to turn the call over to Joe Walsh.

Good morning, everyone. I’ll start by sharing an update on our strategic initiatives for 2015 and provide some highlights of our progress during the second quarter. Paul will detail our quarterly and first-half results; then I’ll wrap up with a few closing remarks. We have a clear mission at Dex Media, to help local businesses thrive. We help local businesses stand their ground against national and regional companies that are outmaneuvering them online, particularly in mobile search. As the marketing department for our clients, we level the playing field by giving local businesses the tools to win. We see a clear and currently unsatisfied need in the marketplace for local businesses to link directly with their customers, attract new business and continue to grow. Our offerings fill that need and are resonating with our clients. This underlying mission forms the basis of our go-forward strategy. Across every department, we’re working diligently to reshape and redefine our company. During the second quarter we made considerable progress on the five strategic initiatives I outlined in our first quarter call. First, we continue to simplify and automate our processes across the business by consolidating our core systems. In the past three months, we achieved two critical milestones. We consolidated our two print fulfillment systems into one platform and we consolidated our two repositories for advertising graphics into a single system. These steps eliminate duplicate processes, and help minimize errors and reduce costs. Later this year, we will launch a new client facing mobile app for Apple and Android devices. This app gives our clients 24/7 access to review program results, update content, view and pay bills, and get in touch with their client service representative. Each of these milestones brings us closer to our goal of enterprise-wide consolidation by the end of 2015.…

Thank you, Joe, and good morning, everyone. Before I begin with the second quarter and first-half financial results, I will refer to non-GAAP financial numbers. We have provided a reconciliation of GAAP to non-GAAP financial measures in the appendix of this presentation, as well as the financial schedules on the company’s investor relations website under quarterly results. Now, onto the company performance compared to the guidance provided last quarter. Reported revenue for the second quarter was $387 million, which was slightly below the low-end of our guidance range of $390 million to $410 million due to the underperformance of the digital channel. Adjusted expenses of $228 million, a 23.5% decline compared to the same quarter last year. As a result, adjusted EBITDA in the second quarter was $159 million with a margin of 41.1%. This exceeded the high-end of our guidance range of $140 million to $150 million and a margin of 35.9% to 36.6%. The results for the second quarter 2015 included an in-year true-ups to estimates of certain employee related costs, including medical and dental benefits. These true-ups favorably impacted our second quarter 2015 margin of 41.1%, and reflect a one-time adjustment, however, do not impact our year-to-date margin of 38.1%. Lastly, free cash flow for the second quarter was $84 million, which exceeded our guidance of $70 million to $80 million, primarily due to lower business transformation costs. On a year-to-date basis, reported revenue was $793 million, a 17.4% decline compared to the same period last year. Adjusted expenses were $491 million and adjusted EBITDA was $302 million with a margin of 38.1%. Total expense decline is primarily driven by headcount reductions coupled with lower variable costs associated with lower revenue. Total revenue performance has been impacted by the Digital and Print ad sales declines during the…

Thank you, Paul. We hope today’s call provides further insight into the progress we’re making to reshape the company and differentiate Dex Media in the marketplace. We’re putting clients first by delivering indispensable products and outstanding service. Our product improvement efforts are organized around three fundamental components: first, slowing the decline of our directories and streamlining print distribution; second, simplifying and enhancing our line of digital products; and third, introducing innovative new-wedge [ph] products that attract new clients and create recurring streams of revenue. These product changes are supported by excellent service delivered by dedicated digital experts. Above all, our new culture drives these crucial changes in our business. Our employees are energized and aligned with a clear mission to help local businesses win. Thank you for your time today.

This is the conclusion of the call. A replay of the webcast will be available at 855-859-2056. International callers can access the replay by calling 404-537-3406. The replay pass-code is 97076207. The replay will be available through August 27, 2015. In addition, the webcast will be available on the Dex Media website, in the Investor Relations section, at ir.dexmedia.com. Thank you. And you may now disconnect your line.