InfoGroup recorded fourth-quarter sales of $125.8 million, an 11% drop from the $141.9 million it pulled in during fourth-quarter 2008.
The company recorded a $2.4 million net loss for the quarter, compared with $2.4 million in net income a year earlier.
For the full year, infoGroup sales stood at $499.9 million, down from $588.7 million in 2008. Additionally in 2009, infoGroup took a $6.8 million net loss, compared with net income of $4.8 million. The quarter and the year ended Dec. 31.
“While 2009 was a challenging year, we continue to see improvements in our core operations,” said infoGroup’s CEO Bill Fairfield in a statement. “We had sequential quarterly revenue growth for the second quarter in a row, and we continue to generate positive cash flow.”
InfoGroup’s operating income for the fourth quarter of 2009 was $7.5 million, which included $10.3 million of restructuring, non-recurring and non-cash charges, compared to operating income of $9.9 million in the fourth quarter of 2008, which included $11.4 million of comparable charges.
The company’s operating income for 2009 was $20.5 million, which included $41.0 million of restructuring, non-recurring and non-cash charges, compared to operating income of $17 million for 2008, which included $52 million of comparable charges.
The company recorded $41.6 million during 2009 for restructuring, non-recurring and non-cash charges compared to $54.4 million in 2008. The 2009 charges included $8.5 million in legal and professional fees related to a Securities and Exchange Commission investigation, $14.1 million in restructuring costs for severance associated with headcount reductions and facility closures, $7.7 million for an impairment of goodwill, $9.2 million for other impairments and write-down of assets, $1.6 million in non-cash stock compensation expense and $400,000 for litigation settlement charges.
