Exhibit 99.1 | ||
5711 S 86TH CIR • PO BOX 27347 • Omaha NE 68127-0347 | ||
Executive Office: (402) 596-8900 • Fax (402) 592-4006 | ||
Internet: www.infoUSA.com | ||
FOR IMMEDIATE RELEASE | ||
APRIL 16, 2004 | ||
CONTACT: | ||
VIN GUPTA – CHAIRMAN & CHIEF EXECUTIVE OFFICER | ||
Phone: (402) 596-8900 • Fax: (402) 339-0265 | ||
E-Mail: vin.gupta@infoUSA.com | ||
RAJ DAS – CHIEF FINANCIAL OFFICER | ||
Phone: (402) 593-4517 • Fax: (402) 339-0265 | ||
E-Mail: raj.das@infoUSA.com | ||
LAUREL GOTTESMAN – DIRECTOR, INVESTOR RELATIONS | ||
Phone: (402) 593-4535 • Fax: (402) 339-0265 | ||
E-Mail: laurel.gottesman@infousa.com |
infoUSA Reports Selected Balance Sheet Data for First
Quarter Ended March 31, 2004
(OMAHA, NE) —infoUSA® (Nasdaq: IUSA). The following table presents selected balance sheet account information as of March 31, 2004, compared to December 31, 2003.
This information is being presented in addition to the First Quarter Earnings Release dated April 14, 2004.
December 31, | March 31, | |||||||
(amounts in thousands) | 2003 | 2004 | ||||||
Assets | ||||||||
Cash and Cash Equivalents (Note 1) | 2,686 | 44,894 | ||||||
Accounts Receivable | 40,922 | 36,365 | ||||||
Accounts Receivable-List Brokerage | 12,844 | 10,920 | ||||||
Deferred Marketing Costs | 5,457 | 3,833 | ||||||
Property and Equipment, net | 40,984 | 40,622 | ||||||
Intangible Assets, net | 247,609 | 250,271 | ||||||
Liabilities | ||||||||
Accounts Payable | 16,212 | 12,361 | ||||||
Accounts Payable-List Brokerage | 9,516 | 7,642 | ||||||
Accrued Payroll Expenses | 17,793 | 12,924 | ||||||
Accrued Expenses | 824 | 3,398 | ||||||
Deferred Revenue (Note 2) | 19,824 | 24,328 | ||||||
Total Debt (Note 1) | 139,765 | 173,485 |
(1) | Includes $30,020 of cash held in escrow for the repurchase of outstanding infoUSA bonds to occur on April 26, 2004. Total debt after the repurchase of the bonds would be $143,465. | |||
(2) | The Company defers revenue recorded on the sale of database license contracts and recognizes the revenue evenly over the life of the contract. |