|By Marketwired .||
|February 6, 2013 11:19 AM EST||
PORTLAND, OR--(Marketwire - February 06, 2013) - Integra Telecom Inc. ("Integra" or the "Company"), a provider of fiber-based, carrier-grade networking, communications and technology solutions, today announced selected preliminary financial results for the quarter and fiscal year ended December 31, 2012.
The fourth quarter of 2012 is anticipated to be the fourth consecutive quarter of sequential organic growth of Recurring Revenue, Adjusted EBITDA and Unlevered Free Cash Flow.
Year Ended Quarter Ended Dec 31, ---------------------------------- ---------------- Mar 31, Jun 30, Sep 30, Dec 31, $ millions 2012 2012 2012 2012 2011 2012 Recurring Revenue(1) $ 129.3 $ 130.2 $ 130.7 $ 131.5 $ 521.6 $ 521.7 Sequential Growth %(2) 0.5% 0.7% 0.4% 0.6% - - Total Revenue 147.9 148.6 149.0 149.0 599.9 594.4 Gross Profit 98.0 99.0 98.1 99.7 393.8 394.8 % of Total Revenue 66.3% 66.7% 65.8% 67.0% 65.6% 66.4% Adjusted EBITDA(3,4) 42.2 43.0 44.9 46.7 172.8 176.8 % of Total Revenue 28.5% 28.9% 30.1% 31.3% 28.8% 29.7% Capital Expenditures(5) 25.7 26.3 24.5 22.8 134.6 99.3 ------- ------- ------- ------- ------- ------- Unlevered Free Cash Flow $ 16.4 $ 16.7 $ 20.4 $ 23.9 $ 38.2 $ 77.5 ------- ------- ------- ------- ------- ------- (1) Recurring Revenue (previously reported as "Line-Based Revenue") consists primarily of private line revenue, data and internet access services, and local telephone service. Private line revenue consists of point-to-point transport circuits to both business and carrier customers utlizing Integra's metropolitan access and long-haul networks. (2) Represents growth versus the previous quarter. (3) For a quantitative reconciliation of Adjusted EBITDA to net loss calculated in accordance with GAAP, refer to Management's Discussion and Analysis of Financial Condition and Results of Operations section within Integra's financial statements posted on the Company's website. (4) Includes $0.1, $0.1, $0.6, and $0.5 million of non-recurring severance expense for the quarter ended March 31, June 30, September 30 and December 31, 2012, respectively. Includes $1.3 and $0.1 million of non-recurring severance expense for the year ended December 31, 2012 and 2011, respectively. (5) Represents both capital expenditures and new customer installation costs as presented in Integra's Consolidated Statements of Cash Flows.
The preliminary financial information set forth above is based on information available to Integra's management team as of the date of this release and remains subject to the completion of the annual audit currently in process by the Company's independent registered public accounting firm. Actual financial results may differ from these estimates.
Non-GAAP Financial Measures
Adjusted EBITDA and Unlevered Free Cash Flow are non-GAAP financial measures utilized by Integra's management to evaluate the Company's financial and operating performance. They should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. Adjusted EBITDA is defined as net income (loss) before interest, income taxes, depreciation and amortization expenses, excluding, when applicable, non-cash share-based compensation, reorganization expenses (inclusive of severance and relocation), gain or loss on extinguishment of debt, gain or loss on disposal of property and equipment and other non-operating income or expense. Integra's management believes that Adjusted EBITDA trends are a valuable indicator of the Company's relative performance to peers and of whether Integra is able to produce sufficient operating cash flow to fund working capital needs, to service debt obligations and to fund capital expenditures.
Unlevered Free Cash Flow is defined as Adjusted EBITDA less deferred customer acquisition costs and capital expenditures. Information on Unlevered Free Cash Flow has been included as Integra's management believes it is useful to investors to determine the Company's ability to generate cash flows to support its capital structure and fund other growth opportunities.
This press release includes projections and forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These projections and forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance and achievements, or industry results, to be materially different from any future results, outcomes, performance or achievements expressed or implied by such forward-looking statements. Undue reliance should not be placed on any projections or forward-looking statements. Projections and forward looking statements should not be regarded as a representation by Integra that the projections or forward-looking statements will be achieved.
Integra's Annual Report posted on the Integra website as well as its Intralinks site contain risk factors that management believes could cause actual results, outcomes or events to differ materially from those contemplated by such projections or forward-looking statements. Readers should consult Integra with questions about any items described in the risk factors or any of the projections or forward-looking statements described in this press release.
All projections and forward looking statements included in this press release are based on information available on the date of this press release and a number of estimates and assumptions that, while considered reasonable by Integra, are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of the Company. Integra undertakes no obligation to publicly update or revise any projection or forward-looking statement, whether as a result of new information, future events or otherwise.
About Integra Telecom
Integra is one of the largest facilities-based providers of communication and networking services in the western United States. We connect businesses of all sizes with advanced networking, communications and technology solutions in 35 metropolitan markets. Integra owns and operates an enterprise-class network consisting of a 5,000-mile long-haul fiber-optic network, 3,000-miles of metropolitan fiber and a nationwide IP/MPLS network. Our fiber network connects directly to more than 2,200 enterprise buildings and data centers. Through our expansive Ethernet-over-copper footprint, we can deliver high-bandwidth services to more than 400,000 businesses. At Integra, we understand our customers need reliable, secure and flexible solutions delivered with unmatched expertise and quality of service. For more information, visit www.integratelecom.com.
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 1, 2016 10:45 AM EDT Reads: 515
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jul. 1, 2016 10:30 AM EDT Reads: 1,051
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Jul. 1, 2016 10:00 AM EDT Reads: 447
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Jul. 1, 2016 09:49 AM EDT Reads: 167
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jul. 1, 2016 09:30 AM EDT Reads: 1,161
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Jul. 1, 2016 09:12 AM EDT Reads: 183
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Jul. 1, 2016 09:00 AM EDT Reads: 652
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Jul. 1, 2016 08:45 AM EDT Reads: 771
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Jul. 1, 2016 08:30 AM EDT Reads: 767
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
Jul. 1, 2016 08:00 AM EDT Reads: 537
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Jul. 1, 2016 08:00 AM EDT Reads: 557
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 1, 2016 07:15 AM EDT Reads: 704
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Jul. 1, 2016 07:15 AM EDT Reads: 1,301
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 1, 2016 12:30 AM EDT Reads: 746
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2016' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited t...
Jul. 1, 2016 12:00 AM EDT Reads: 617
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profession...
Jun. 30, 2016 04:00 PM EDT Reads: 565
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Jun. 30, 2016 01:30 PM EDT Reads: 1,393
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Jun. 30, 2016 01:00 PM EDT Reads: 1,536
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Jun. 30, 2016 11:30 AM EDT Reads: 680
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jun. 30, 2016 11:15 AM EDT Reads: 765