Welcome!

Wireless Authors: Esmeralda Swartz, Carmen Gonzalez, Trevor Parsons, Scott Hirsch, Elizabeth White

News Feed Item

Integra Telecom Reports Preliminary Results for Fourth Quarter and Fiscal Year 2012

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.

Financial Results
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.

Forward-Looking Statements
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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: Esmeralda Swartz, CMO of MetraTech, has spent 16 years as a marketing, product management, and busin...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: Samsung recognizes that true, accelerated innovation cannot be driven from one source, but requires a...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Robin Raymond, Chief Architect at Hookflash Inc., will walk through the shifting landscape of traditional telephone a...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it’s a mix of architectural style...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accelerate their digital channels with APIs, drive partner adoption, monetize their assets, and achieve a...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customizable platform to easily integrate into existing software solutions, embed business logic and build s...
Connected devices are changing the way we go about our everyday life, from wearables to driverless cars, to smart grids and entire industries revolutionizing business opportunities through smart objects, capable of two-way communication. But what happens when objects are given an IP-address, and we rely on that connection, sometimes with our lives? How do we secure those vast data infrastructures and safe-keep the privacy of sensitive information? This session will outline how each and every connected device can uphold a core root of trust via a unique cryptographic signature – a “bir...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at Internet of @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, will discuss how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.

SUNNYVALE, Calif., Oct. 20, 2014 /PRNewswire/ -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems, today added 96 new products to the Spansion® FM4 Family of flexible microcontrollers (MCUs). Based on the ARM® Cortex®-M4F core, the new MCUs boast a 200 MHz operating frequency and support a diverse set of on-chip peripherals for enhanced human machine interfaces (HMIs) and machine-to-machine (M2M) communications. The rich set of periphera...

SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
Predicted by Gartner to add $1.9 trillion to the global economy by 2020, the Internet of Everything (IoE) is based on the idea that devices, systems and services will connect in simple, transparent ways, enabling seamless interactions among devices across brands and sectors. As this vision unfolds, it is clear that no single company can accomplish the level of interoperability required to support the horizontal aspects of the IoE. The AllSeen Alliance, announced in December 2013, was formed with the goal to advance IoE adoption and innovation in the connected home, healthcare, education, aut...