ContactsThe Weather NetworkDeanna Langton905 8291159 ext3billion euros in CASHES Il Sole 24 Ore saidiMDsWade Fallin Copyright Business Wire 200948 team is the dominant crew at this trackMiz lets go holding the back of his head4 points per game with 11 sacks and 9 defensesThis game had a lot of missed opportunitiesHoward was a starting corner for the HuskiesBoth growth rates were slower than in 2007Louis and Kansas City metropolitan regions"Despite the challenging economic environment, Yahoo! delivered adjustedoperating cash flow above the midpoint of guidance for the fourth quarter," saidYahoo! Chief Executive Officer Carol Bartz. "The company also made importantinvestments while aggressively managing costs, leaving us better positioned toweather the economic downturn and emerge stronger when advertiser spendingimproves. We have work to do, but I am excited by Yahoo!s opportunities, andencouraged by the tremendous innovation and momentum Ive seen since joining thecompany as CEO." Fourth Quarter 2008 Financial Results Revenues were $1,806 million for the fourth quarter of 2008, a 1 percentdecrease compared to $1,832 million for the same period of 2007. Marketing services revenues from Affiliate sites were $531 million for thefourth quarter of 2008, a 4 percent decrease compared to $555 million for thesame period of 2007. Fees revenues were $212 million for the fourth quarter of 2008, a 12 percentdecrease compared to $242 million for the same period of 2007. Revenues excluding traffic acquisition costs ("TAC") were $1,375 million forthe fourth quarter of 2008, a 2 percent decrease compared to $1,403 million forthe same period of 2007. 
Operating loss for the fourth quarter of 2008 was $278 million compared tooperating income of $191 million for the same period of 2007. Operating loss before depreciation, amortization, and stock-based compensationexpense for the fourth quarter of 2008 was $60 million compared to operatingincome before depreciation, amortization, and stock-based compensation expenseof $527 million for the same period of 2007. Adjusted operating income before depreciation, amortization, and stock-basedcompensation expense for the fourth quarter of 2008 was $542 million, excludingrestructuring charges of $108 million for severance, facilities, and otherrestructuring costs; a goodwill impairment charge of $488 million related to ourinternational segment; and incremental costs of $7 million incurred for outsideadvisors related to Microsofts proposals to acquire all or a part of theCompany, other strategic alternatives, including the Google agreement, the proxycontest, and related litigation defense (collectively, the "strategicalternatives and related matters"). Cash flow from operating activities for the fourth quarter of 2008 was $321million, a 48 percent decrease compared to $622 million for the same period of2007. Free cash flow for the fourth quarter of 2008 was $219 million, a 34 percentdecrease compared to $330 million for the same period of 2007. Net loss for the fourth quarter of 2008 was $303 million or $0.22 per dilutedshare compared to net income of $206 million or $0.15 per diluted share for thesame period of 2007. International segment revenues for the fourth quarter of 2008 were $468million, a 10 percent decrease compared to $519 million for the same period of2007.
"Yahoo!s aggressive cost management and strong balance sheethelped us navigate this unprecedented economic environment. The cost reductioninitiatives and investments we made in 2008 have positioned us well forchallenging conditions." Full Year 2008 Financial Results Revenues were $7,209 million for 2008, a 3 percent increase compared to $6,969million for 2007. Marketing services revenues from Affiliate sites were $2,270 million for 2008,a 6 percent decrease compared to $2,418 million for 2007. Fees revenues were $892 million for 2008, a 1 percent increase compared to$881 million for 2007. Revenues excluding TAC were $5,399 million for 2008, a 6 percent increasecompared to $5,113 million for 2007. Operating income for 2008 was $13 million compared to $695 million for 2007. Operating income before depreciation, amortization, and stock-basedcompensation expense for 2008 was $1,211 million, a 37 percent decrease comparedto $1,927 million for 2007.
