West Corporation Reports Third Quarter 2013 Results and Declares Quarterly Dividend

West Corporation Reports Third Quarter 2013 Results and Declares Quarterly
Dividend

Company Updates 2013 Guidance

OMAHA, Neb., Oct. 28, 2013 (GLOBE NEWSWIRE) -- West Corporation (Nasdaq:WSTC),
a leading provider of technology-driven communication services, today
announced its third quarter 2013 results.

Key Quarterly Highlights:

Unaudited, in
millions except per   Three Months Ended Sept. 30, Nine Months Ended Sept. 30,
share
                     2013      2012     % Change  2013      2012     % Change
Consolidated Revenue  $ 665.4   $ 656.9  1.3%      $1,998.3  $1,957.9 2.1%
Platform-based        483.0     472.7    2.2%      1,459.4   1,406.6  3.8%
Revenue^1
Adjusted EBITDA^2     174.8     168.2    3.9%      526.0     500.4    5.1%
EBITDA^2              171.5     154.1    11.3%     489.0     481.1    1.6%
Adjusted Operating    140.6     148.4    -5.2%     430.4     421.4    2.1%
Income^2
Operating Income      123.4     117.3    5.2%      351.5     353.0    -0.4%
Pro Forma Adjusted    N/A       N/A      N/A       180.6     N/A      N/A
Net Income^2,3
Adjusted Net Income^2 59.7      44.9     33.2%     165.2     142.3    16.1%
Net Income            46.1      22.1     108.9%    92.9      92.8     0.0%
Pro Forma Adjusted    N/A       N/A      N/A       2.13      N/A      N/A
EPS - Diluted^2
Adjusted Earnings per 0.70      0.71     -1.4%     2.10      2.24     -6.3%
Share - Diluted^2
Earnings per Share -  0.54      0.35     54.3%     1.18      1.46     -19.2%
Diluted
Free Cash Flow^2,4    54.6      79.1     -31.0%    188.7     156.1    20.9%
Cash Flows from       83.1      108.6    -23.5%    276.7     243.9    13.4%
Operations
Cash Flows used in    (28.2)    (29.7)   -5.1%     (89.2)    (165.3)  -46.1%
Investing
Cash Flows used in    (60.5)    (16.4)   NM        (154.2)   (23.8)   NM
Financing

"West Corporation continued to drive strong profitability during the third
quarter," said Tom Barker, CEO. "We grew Adjusted EBITDA and Adjusted Net
Income during the quarter and our free cash flow generation remains robust,
growing by nearly 21 percent through the first nine months of the year."

Dividend

The Company today also announced a $0.225 per common share quarterly dividend.
The dividend is payable November 18, 2013, to shareholders of record as of
the close of business on November 8, 2013.

Consolidated Operating Results

For the third quarter of 2013, revenue was $665.4 million compared to $656.9
million for the same quarter of the previous year, an increase of 1.3
percent.

The Unified Communications segment had revenue of $370.8 million in the third
quarter of 2013, an increase of 3.3 percent over the same quarter of the
previous year.The Communication Services segment had revenue of $306.2
million in the third quarter of 2013, 1.8 percent higher than the third
quarter of 2012.The Company's platform-based businesses^1 had revenue of
$483.0 million in the third quarter of 2013, an increase of 2.2 percent over
the same quarter of the previous year.

Adjusted EBITDA^2 for the third quarter of 2013 was $174.8 million, or 26.3
percent of revenue, compared to $168.2 million, or 25.6 percent of revenue,
for the third quarter of 2012, an increase of 3.9 percent.EBITDA was $171.5
million in the third quarter of 2013 compared to $154.1 million in the third
quarter of 2012, an increase of 11.3 percent.

Adjusted Operating Income^2 for the third quarter of 2013 was $140.6 million,
or 21.1 percent of revenue, compared to $148.4 million, or 22.6 percent of
revenue in the same quarter of 2012, a decrease of 5.2 percent. Operating
Income was $123.4 million in the third quarter of 2013 compared to $117.3
million in the third quarter of 2012, an increase of 5.2 percent.

Adjusted Net Income^2 was $59.7 million in the third quarter of 2013, an
increase of 33.2 percent from the same quarter of 2012. Net Income was $46.1
million in the third quarter of 2013, compared to $22.1 million in the same
quarter of 2012. The improvement in profitability was driven by lower
share-based compensation, deleveraging, a lower cost of debt and operating
leverage.

Balance Sheet, Cash Flow and Liquidity

At September 30, 2013, West Corporation had cash and cash equivalents totaling
$211.0 million and working capital of $349.0 million.Interest expense was
$51.3 million during the three months ended September 30, 2013 compared to
$69.2 million during the comparable period last year. 

The Company's net debt to pro forma Adjusted EBITDA ratio, as calculated
pursuant to the Company's senior secured term debt facilities, was 4.60x at
September 30, 2013.

"Our cash flow generation continued at a strong pace for the nine months ended
September 30, 2013.In the third quarter we realized the full effect of our
debt reduction and lower interest rates from financing activities completed
during the first half of the year," said Paul Mendlik, CFO."During the third
quarter, we repaid $35 million of debt outstanding on our revolving trade
accounts receivable financing facility.We also completed an amendment to that
facility which increased the line of credit to $185 million and extended the
maturity to June 2018, providing West Corporation with increased financial
flexibility."

Cash Flows from Operations were $276.7 million for the nine months ended
September 30, 2013 compared to $243.9 million in the period last year.Free
Cash Flow^2,4 increased to $188.7 million in the year-to-date period of 2013
compared to $156.1 million in the same period of 2012.

During the third quarter of 2013, the Company invested $29.4 million, or 4.4
percent of revenues, in capital expenditures primarily for software and
computer equipment.

2013 Guidance Update

The Company has updated some of its guidance ranges for the year ending
December 31, 2013 in the table below.The Company is reiterating the previous
guidance provided for all other metrics.This revised guidance assumes no
acquisitions or changes in the current operating environment, no additional
capital structure changes and foreign currency exchange rates used in its
previous guidance.

                                                                 
                               Previous Guidance Revised Guidance
Consolidated Revenue ($B)       $2.715 - $2.770   $2.660 - $2.675
Cash Flows from Operations ($M) $320 - $350       $345 - $365
Capital Expenditures ($M)       $130 - $140       $120 - $130
Free Cash Flow ($M)             $180 - $220       $215 - $235

"Organic revenue growth for the year has been more challenging than we
anticipated," said Tom Barker."Despite reduced revenue expectations, we
anticipate strong profitability and cash flows.The midpoint of our Free Cash
Flow guidance has been increased by $25 million."

Conference Call

The Company will hold a conference call to discuss these topics on Tuesday,
October 29, 2013 at 11:00 AM Eastern Time (10:00 AM Central Time).Investors
may access the call by visiting the Financials section of the West Corporation
website at www.west.com and clicking on the Webcast link.A replay of the call
will be available on the Company's website at www.west.com.

About West Corporation

West Corporation (Nasdaq:WSTC) is a leading provider of technology-driven
communication services.West offers its clients a broad range of
communications and network infrastructure solutions that help them manage or
support critical communications.West's customer contact solutions and
conferencing services are designed to improve its clients' cost structure and
provide reliable, high-quality services.West also provides mission-critical
services, such as public safety and emergency communications.

Founded in 1986 and headquartered in Omaha, Nebraska, West serves Fortune 1000
companies and other clients in a variety of industries, including
telecommunications, retail, financial services, public safety, technology and
healthcare.West has sales and operations in the United States, Canada,
Europe, the Middle East, Asia Pacific and Latin America.For more information
on West Corporation, please call 1-800-841-9000 or visit www.west.com.

Forward-Looking Statements

This press release contains forward-looking statements.Forward-looking
statements can be identified by the use of words such as "may," "should,"
"expects," "plans," "anticipates," "believes," "estimates," "predicts,"
"intends," "continue" or similar terminology.The statements contained in the
2013 guidance update are forward-looking statements.These statements reflect
only West's current expectations and are not guarantees of future performance
or results.These statements are subject to risks and uncertainties that could
cause actual results to differ materially from those contained in the
forward-looking statements.These risks and uncertainties include, but are not
limited to, competition in West's highly competitive industries; increases in
the cost of voice and data services or significant interruptions in these
services; West's ability to keep pace with its clients' needs for rapid
technological change and systems availability; the continued deployment and
adoption of emerging technologies; the loss, financial difficulties or
bankruptcy of any key clients; security and privacy breaches of the systems
West uses to protect personal data; the effects of global economic trends on
the businesses of West's clients; the non-exclusive nature of West's client
contracts and the absence of revenue commitments; the cost of pending and
future litigation; the cost of defending West against intellectual property
infringement claims; extensive regulation affecting many of West's businesses;
West's ability to protect its proprietary information or technology; service
interruptions to West's data and operation centers; West's ability to retain
key personnel and attract a sufficient number of qualified employees;
increases in labor costs and turnover rates; the political, economic and other
conditions in the countries where West operates; changes in foreign exchange
rates; West's ability to complete future acquisitions and integrate or achieve
the objectives of its recent and future acquisitions; future impairments of
our substantial goodwill, intangible assets, or other long-lived assets; and
West's ability to recover consumer receivables on behalf of its clients.In
addition, West is subject to risks related to its level of indebtedness.Such
risks include West's ability to generate sufficient cash to service its
indebtedness and fund its other liquidity needs; West's ability to comply with
covenants contained in its debt instruments; the ability to obtain additional
financing; the incurrence of significant additional indebtedness by West and
its subsidiaries; and the ability of West's lenders to fulfill their lending
commitments.West is also subject to other risk factors described in documents
filed by the company with the United States Securities and Exchange
Commission.

These forward-looking statements speak only as of the date on which the
statements were made.West undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent required by
applicable law.

WEST CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands except selected per share and operating data)
                                                            
                                Three Months Ended September 30,
                                2013     2012             2013
                                Actual   Actual   % Change Adjusted (2)
Revenue                          $665,366 $656,896 1.3%     $665,366
Cost of services                 310,533   307,699   0.9%     310,533
Selling, general and             231,407   231,905   -0.2%    214,187
administrative expenses
Operating income                 123,426   117,292   5.2%     140,646
Interest expense, net            51,242    69,146    -25.9%   46,710
Subordinated debt call premium
and accelerated amortization of            2,715     NM       --
deferred financing costs
Other expense (income), net      (1,654)   9,792     NM       (1,654)
Income before tax                73,838    35,639    107.2%   95,590
Income tax                       27,690    13,543    104.5%   35,846
Net income                       $46,148  $22,096  108.9%   $59,744
                                                            
Weighted average shares                                      
outstanding:
Basic                            83,581    61,452            83,581
Diluted                          85,042    63,531            85,042
                                                            
Earnings per share:                                          
Basic                            $0.55    $0.36    52.8%    $0.71
Diluted                          $0.54    $0.35    54.3%    $0.70
                                                            
SELECTED SEGMENT DATA:                                       
Revenue:                                                     
Unified Communications           $370,751 $359,007 3.3%     
Communication Services           306,186   300,847   1.8%     
Intersegment eliminations        (11,571)  (2,958)   NM       
Total                            $665,366 $656,896 1.3%     
                                                            
Depreciation:                                                
Unified Communications           $16,841  $14,694  14.6%    
Communication Services           12,554    12,109    3.7%     
Total                            $29,395  $26,803  9.7%     
                                                            
Amortization:                                                
Unified Communications - SG&A    $6,281   $7,146   -12.1%   
Communication Services - COS     2,475     2,433     1.7%     
Communication Services - SG&A    7,648     9,926     -22.9%   
Corporate - deferred financing   4,532     3,804     19.1%    
costs
Corporate - accelerated
amortization of deferred         --        2,715     NM       
financing costs
Total                            $20,936  $26,024  -19.6%   
                                                            
Share-based Compensation                                     
Unified Communications           $1,424   $4,713   -69.8%   
Communication Services           1,680     5,753     -70.8%   
Corporate                        --        10,160            
Total                            $3,104   $20,626  -85.0%   
                                                            
Cost of services:                                            
Unified Communications           $155,848 $155,316 0.3%     
Communication Services           165,674   154,747   7.1%     
Intersegment eliminations        (10,989)  (2,364)   NM       
Total                            $310,533 $307,699 0.9%     
                                                            
Selling, general and                                         
administrative expenses:
Unified Communications           $115,568 $107,345 7.7%     
Communication Services           116,421   125,154   -7.0%    
Intersegment eliminations        (582)     (594)     NM       
Total                            $231,407 $231,905 -0.2%    
                                                            
Operating income:                                            
Unified Communications           $99,335  $96,345  3.1%     $107,049
Communication Services           24,091    20,947    15.0%    33,597
Total                            $123,426 $117,292 5.2%     $140,646
                                                            
Operating margin:                                            
Unified Communications           26.8%      26.8%              28.9%
Communication Services           7.9%       7.0%               11.0%
Total                            18.6%      17.9%              21.1%
                                                            
SELECTED OPERATING DATA:                                     
Revenue from platform-based      $483,024 $472,674 2.2%     
services ^(1)
Revenue from agent-based         $185,128 $186,864 -0.9%    
services


WEST CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands except selected per share and operating data)
                                                             
                     Nine Months Ended September 30,
                     2013      2012            2013       2013 Adj.
                     Actual    Actual    %      Adjusted    Pro Forma
                                              Change (2)         (2,3)
Revenue               $1,998,285 $1,957,853 2.1%   $1,998,285 $1,998,285
Cost of services      931,539    906,687    2.7%   931,539     931,539
Selling, general and
administrative        715,292    698,133    2.5%   636,390     636,390
expenses
Operating income      351,454    353,033    -0.4%  430,356     430,356
Interest expense, net 181,310    191,833    -5.5%  167,600     142,890
Subordinated debt
call premium and
accelerated           23,105     2,715      --    --          --
amortization of
deferred financing
costs
Other expense         (1,555)    8,753      NM     (1,555)     (1,555)
(income), net
Income before tax     148,594    149,732    -0.8%  264,311     289,021
Income tax            55,723     56,898     -2.1%  99,117      108,383
Net income            $92,871   $92,834   0.0%   $165,194   $180,638
                                                             
Weighted average                                              
shares outstanding:
Basic                 77,274     61,424           77,274      83,509
Diluted               78,720     63,530           78,720      84,955
                                                             
Earnings per share:                                           
Basic                 $1.20     $1.51     -20.5% $2.14      $2.16
Diluted               $1.18     $1.46     -19.2% $2.10      $2.13
                                                             
SELECTED SEGMENT                                              
DATA:
Revenue:                                                      
Unified               $1,121,188 $1,088,181 3.0%               
Communications
Communication         899,415    877,811    2.5%               
Services
Intersegment          (22,318)   (8,139)    NM                 
eliminations
Total                 $1,998,285 $1,957,853 2.1%               
                                                             
Depreciation:                                                 
Unified               $47,922   $44,747   7.1%               
Communications
Communication         37,250     35,252     5.7%               
Services
Total                 $85,172   $79,999   6.5%               
                                                             
Amortization:                                                 
Unified               $18,722   $21,576   -13.2%             
Communications - SG&A
Communication         7,571      6,742      12.3%              
Services - COS
Communication         23,113     27,536     -16.1%             
Services - SG&A
Corporate - deferred  13,710     10,590     29.5%              
financing costs
Corporate -
accelerated
amortization of       6,603      2,715      NM                 
deferred financing
costs
Total                 $69,719   $69,159   0.8%               
                                                             
Share-based                                                   
Compensation
Unified               $3,790    $5,992    -36.7%             
Communications
Communication         4,364      7,124      -38.7%             
Services
Corporate             --        10,160                       
Total                 $8,154    $23,276   -65.0%             
                                                             
Cost of services:                                             
Unified               $475,500  $460,607  3.2%               
Communications
Communication         476,774    452,543    5.4%               
Services
Intersegment          (20,735)   (6,463)    NM                 
eliminations
Total                 $931,539  $906,687  2.7%               
                                                             
Selling, general and
administrative                                                
expenses:
Unified               $358,519  $334,286  7.2%               
Communications
Communication         358,356    365,523    -2.0%              
Services
Intersegment          (1,583)    (1,676)    NM                 
eliminations
Total                 $715,292  $698,133  2.5%               
                                                             
Operating income:                                             
Unified               $287,169  $293,286  -2.1%  $327,454   
Communications
Communication         64,285     59,747     7.6%   102,902     
Services
Total                 $351,454  $353,033  -0.4%  $430,356   
                                                             
Operating margin:                                             
Unified               25.6%       27.0%             29.2%        
Communications
Communication         7.1%        6.8%              11.4%        
Services
Total                 17.6%       18.0%             21.5%        
                                                             
SELECTED OPERATING                                            
DATA:
Revenue from
platform-based        $1,459,395 $1,406,620 3.8%               
services ^(1)
Revenue from          $547,136  $558,936  -2.1%              
agent-based services


WEST CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands)
                                                                     
                                        September 30, December 31, %
                                        2013          2012         Change
Current assets:                                                       
Cash and cash equivalents                $210,973      $179,111     17.8%
Trust and restricted cash                15,749         14,518        8.5%
Accounts receivable, net                 458,850        444,411       3.2%
Deferred income taxes receivable         8,672          13,148        -34.0%
Prepaid assets                           41,715         42,129        -1.0%
Other current assets                     85,814         67,775        26.6%
Total current assets                     821,773        761,092       8.0%
Net property and equipment               347,740        364,896       -4.7%
Goodwill                                 1,820,107      1,816,851     0.2%
Other assets                             491,060        505,314       -2.8%
Total assets                             $3,480,680    $3,448,153   0.9%
                                                                     
Current liabilities                      $472,771      $457,668     3.3%
Long-term obligations                    3,525,347      3,992,531     -11.7%
Other liabilities                        265,171        247,640       7.1%
Total liabilities                        4,263,289      4,697,839     -9.2%
                                                                     
Stockholders' deficit                    (782,609)      (1,249,686)   37.4%
Total liabilities and stockholders'      $3,480,680    $3,448,153   0.9%
deficit

Reconciliation of Non-GAAP Financial Measures

Adjusted Operating Income Reconciliation

Adjusted Operating Income is not a measure of financial performance under
generally accepted accounting principles ("GAAP").The Company believes
Adjusted Operating Income provides a relevant measure of operating
profitability and a useful basis for evaluating the ongoing operations of the
Company.Adjusted Operating Income is used by the Company to assess Operating
Income before the impact of IPO-related expenses, expenses terminated in
connection with the IPO and non-cash items.Adjusted Operating Income should
not be considered in isolation or as a substitute for Operating Income or
other profitability data prepared in accordance with GAAP.Adjusted Operating
Income, as presented, may not be comparable to similarly titled measures of
other companies.Set forth below is a reconciliation of Adjusted Operating
Income to Operating Income.

Reconciliation of Adjusted Operating Income from Operating Income
Unaudited, in thousands                                           
                                          Three Months Ended September 30,
                                          2013          2012       % Change
Operating income                           $123,426    $117,292 5.2%
Amortization of acquired intangible assets 13,929       17,072    
Share-based compensation                   3,104        20,626    
Sponsor management/termination fee         --           1,019     
M&A and acquisition related costs          187          293       
Acquisition earnout reversal               --           (7,887)   
Adjusted operating income                  $140,646    $148,415 -5.2%
                                                                 
                                                                 
                                          Nine Months Ended September 30,
                                          2013          2012       % Change
Operating income                           $351,454    $353,033 -0.4%
Amortization of acquired intangible assets 41,835       49,112    
Share-based compensation                   8,154        23,276    
Sponsor management/termination fee         25,000       3,088     
IPO bonus                                  2,975        --        
M&A and acquisition related costs          938          809       
Acquisition earnout reversal               --           (7,887)   
Adjusted operating income                  $430,356    $421,431 2.1%

Adjusted Net Income, Adjusted EPS, Pro forma Adjusted Net Income and Pro forma
Adjusted EPS Reconciliation

Adjusted Net Income, Adjusted EPS, Pro forma Adjusted Net Income and Pro forma
Adjusted EPS are non-GAAP measures. The Company believes these measures
provide a useful indication of profitability and basis for assessing the
operations of the Company without the impact of IPO-related expenses, expenses
terminated in connection with the IPO, bond redemption premiums, M&A and
acquisition related costs, the expiration of an earn-out payment obligation
related to an acquisition and non-cash items.

Adjusted Net Income should not be considered in isolation or as a substitute
for Net Income or other profitability metrics prepared in accordance with
GAAP.Adjusted Net Income, as presented, may not be comparable to similarly
titled measures of other companies.

Pro forma Adjusted Net Income represents Adjusted Net Income after giving
effect to pro forma adjusted interest expense.Pro forma adjusted interest
expense reflects the impact of lower debt balances and lower interest rates
post IPO.This includes the pro forma savings for the full periods from the
redemption of the $450 million senior subordinated notes and the pricing
amendment to the senior secured term loan facilities as if these transactions
had been completed January 1, 2013.Pro forma results also present shares
outstanding as if the Company's IPO had been completed January 1, 2013.

Set forth below is a reconciliation of Adjusted Net Income and Pro forma Net
Income to Net Income.

Reconciliation of Adjusted Net Income & Pro forma Net Income from Net Income
Unaudited, in thousands except per share                           
                                           Three Months Ended September 30,
                                           2013          2012       % Change
Net income                                  $46,148     $22,096  108.9%
                                                                  
Amortization of acquired intangible assets  13,929       17,072    
Amortization of deferred financing costs    4,532        3,804     
Accelerated amortization of deferred        --           2,715     
financing costs
Share-based compensation                    3,104        20,626    
Sponsor management/termination fee          --           1,019     
M&A and acquisition related costs           187          293       
Acquisition earnout reversal                --          (7,887)   
Pre-tax total                               21,752       37,642    
Income tax expense on adjustments           8,156        14,869    
Adjusted net income                         $59,744     $44,869  33.2%
                                                                  
Diluted shares outstanding                  85,042       63,531    
Adjusted EPS - diluted                      $0.70       $0.71    -1.4%
                                                                  
                                                                  
                                           Nine Months Ended September 30,
                                           2013          2012       % Change
Net income                                  $92,871     $92,834  0.0%
                                                                  
Amortization of acquired intangible assets  41,835       49,112    
Amortization of deferred financing costs    13,710       10,590    
Accelerated amortization of deferred        6,603        2,715     
financing costs
Share-based compensation                    8,154        23,276    
Sponsor management/termination fee          25,000       3,088     
IPO bonus                                   2,975        --        
Subordinated debt call premium              16,502       --        
M&A and acquisition related costs           938          809       
Acquisition earnout reversal                --           (7,887)   
Pre-tax total                               115,717      81,703    
Income tax expense on adjustments           43,394       32,273    
Adjusted net income                         $165,194    $142,264 16.1%
                                                                  
Diluted shares outstanding                  78,720       63,530    
Adjusted EPS - diluted                      $2.10       $2.24    -6.3%
                                                                  
Pro forma interest expense change, net of   $15,444               
tax
Pro forma adjusted net income               $180,638    N/A      
                                                                  
Pro forma diluted shares outstanding        84,955                 
Pro forma adjusted EPS - diluted            $2.13       N/A      

Free Cash Flow Reconciliation

The Company believes Free Cash Flow provides a relevant measure of liquidity
and a useful basis for assessing the Company's ability to fund its activities,
including the financing of acquisitions, debt service, stock repurchases and
distribution of earnings to shareholders.Free Cash Flow is calculated as Cash
Flows from Operations less cash Capital Expenditures.Free Cash Flow is not a
measure of financial performance under GAAP.Free Cash Flow should not be
considered in isolation or as a substitute for Cash Flows from Operations or
other liquidity measures prepared in accordance with GAAP.Free Cash Flow, as
presented, may not be comparable to similarly titled measures of other
companies.Set forth below is a reconciliation of Free Cash Flow to Cash Flows
from Operations.

Reconciliation of Free Cash Flow from Operating Cash Flow
Unaudited, in thousands                           
                          Three Months Ended September 30,
                          2013         2012        % Change
Cash flows from operations $83,065    $108,573  -23.5%
Cash capital expenditures  28,453      29,431     -3.3%
Free cash flow             $54,612    $79,142   -31.0%
                                                 
                                                 
                          Nine Months Ended September 30,
                          2013         2012        % Change
Cash flows from operations $276,729   $243,947  13.4%
Cash capital expenditures  87,980      87,860     0.1%
Free cash flow             $188,749   $156,087  20.9%

EBITDA and Adjusted EBITDA Reconciliation

The common definition of EBITDA is "Earnings Before Interest Expense, Taxes,
Depreciation and Amortization."In evaluating liquidity and performance, the
Company uses earnings before interest expense, share based compensation,
taxes, depreciation and amortization, and one-time IPO-related expenses, or
"Adjusted EBITDA."EBITDA and Adjusted EBITDA are not measures of financial
performance or liquidity under GAAP.EBITDA and Adjusted EBITDA should not be
considered in isolation or as a substitute for Net Income, Cash Flows from
Operations or other income or cash flows data prepared in accordance with
GAAP.EBITDA and Adjusted EBITDA, as presented, may not be comparable to
similarly titled measures of other companies.EBITDA and Adjusted EBITDA are
used by certain investors as measures to assess the Company's ability to
service debt.Adjusted EBITDA is also used in the Company's debt covenants,
although the precise adjustments used to calculate Adjusted EBITDA included in
the Company's credit facility and indentures vary in certain respects among
such agreements and from those presented below.Certain adjustments to
Adjusted EBITDA were excluded from the calculations below consistent with the
adjustments made for Adjusted Operating Income and Adjusted Net Income.Set
forth below is a reconciliation of EBITDA and Adjusted EBITDA to Cash Flows
from Operations and Net Income.

Reconciliation of EBITDA and Adjusted EBITDA from Operating Cash Flow
Unaudited, in thousands                                        
                          Three Months Ended Sept. Nine Months Ended Sept.
                           30,                      30,
                          2013         2012         2013         2012
Cash flows from operating  $83,065    $108,573   $276,729   $243,947
activities
Income tax expense         27,690      13,543      55,723      56,898
Deferred income tax        5,339       (2,611)     (3,668)     (10,317)
benefit (expense)
Interest expense and other 51,850      72,153      205,792     195,551
financing charges
Provision for share-based  (3,104)     (20,626)    (8,154)     (23,276)
compensation
Amortization of deferred   (4,532)     (3,804)     (13,710)    (10,590)
financing costs
Accelerated amortization
of deferred financing      --          (2,715)     (6,603)     (2,715)
costs
Asset impairment           --          --          --          (3,715)
Other                      (55)        (13)        (93)        (185)
Changes in operating
assets and liabilities,    11,234      (10,400)    (17,052)    35,538
net of business
acquisitions
EBITDA                     171,487     154,100     488,964     481,136
Provision for share-based  3,104       20,626      8,154       23,276
compensation
Sponsor
management/termination fee --          1,019       27,975      3,088
and IPO bonus
M&A and acquisition        187         293         938         809
related costs
Acquisition earnout        --          (7,887)     --          (7,887)
reversal
Adjusted EBITDA            $174,778   $168,151   $526,031   $500,422
                                                              
                                                              
Reconciliation of EBITDA and Adjusted EBITDA from Net Income
Unaudited, in thousands                                        
                          Three Months Ended Sept. Nine Months Ended Sept.
                           30,                      30,
                          2013         2012         2013         2012
Net income                 $46,148    $22,096    $92,871    $92,834
Interest expense and other 51,850      72,153      205,792     195,551
financing charges
Depreciation and           45,799      46,308      134,578     135,853
amortization
Income tax expense         27,690      13,543      55,723      56,898
EBITDA                     171,487     154,100     488,964     481,136
Provision for share-based  3,104       20,626      8,154       23,276
compensation
Sponsor
management/termination fee --          1,019       27,975      3,088
and IPO bonus
M&A and acquisition        187         293         938         809
related costs
Acquisition earnout        --          (7,887)     --          (7,887)
reversal
Adjusted EBITDA            $174,778   $168,151   $526,031   $500,422
                                                              
                                                              
Unaudited, in thousands    Three Months Ended Sept. Nine Months Ended Sept.
                           30,                      30,
                          2013         2012         2013         2012
Cash flows from operating  $83,065    $108,573   $276,729   $243,947
activities
Cash flows used in         $(28,157)  $(29,657)  $(89,159)  $(165,287)
investing activities
Cash flows used in         $(60,469)  $(16,425)  $(154,162) $(23,843)
financing activities

^____________________________________
^1Platform-based businesses include the Unified Communications segment,
Intrado, West Interactive and HyperCube.
^2See Reconciliation of Non-GAAP Financial Measures below.
^3 Reflects the impact of post-IPO reduced debt balances and lower interest
rates resulting from the Company's pricing amendments to its senior secured
term loan facilities and redemption of the $450 million senior subordinated
notes as if these transactions had been completed on January 1, 2013.Pro
forma results also present shares outstanding as if the Company's IPO had been
completed on January 1, 2013.
^4 Free Cash Flow is calculated as Cash Flows from Operations less cash
Capital Expenditures.
N/A: Not Applicable
NM: Not Meaningful

CONTACT: AT THE COMPANY:
         David Pleiss
         Investor Relations
         (402) 963-1500
         dmpleiss@west.com

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