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Inteliquent Reports Fourth Quarter 2013 Results and Declares Quarterly Dividend

Inteliquent Reports Fourth Quarter 2013 Results and Declares Quarterly
Dividend

Recent financial and operating highlights include:

  *Fourth quarter 2013 voice revenue of $50.2 million compared with $49.5
    million in the fourth quarter of 2012 and $50.1 million in the third
    quarter of 2013;
  *Net income of $8.8 million in the fourth quarter of 2013, compared with a
    net loss of $85.8 million in the fourth quarter of 2012 (the loss includes
    an impairment charge of $68.4 million related to goodwill, intangible
    assets and fixed assets and a loss from discontinued operations of $30.4
    million), and net income of $6.5 million in the third quarter of 2013;
  *Adjusted EBITDA (a non-GAAP financial measure) of $18.0 million in the
    fourth quarter of 2013 compared with $14.2 million in the fourth quarter
    of 2012, and $17.0 million in the third quarter of 2013 (see
    reconciliations tables for reconciliation to net income);
  *Free cash flow (a non-GAAP financial measure) of $15.4 million in the
    fourth quarter of 2013, compared with $9.4 million in the fourth quarter
    of 2012, and $15.0 million in the third quarter of 2013 (see
    reconciliations tables for reconciliation to net income);
  *Billed minutes of 30.4 billion in the fourth quarter of 2013, compared
    with 31.9 billion in the fourth quarter of 2012, and 30.4 billion in the
    third quarter of 2013;
  *Annual guidance for 2014 of $200 million to $210 million of revenue, $61
    million to $66 million of adjusted EBITDA (a non-GAAP financial measure),
    and $10 million to $12 million of capital expenditures;
  *Increases quarterly dividend to $0.075 per outstanding share of common
    stock.

CHICAGO, Feb. 27, 2014 (GLOBE NEWSWIRE) -- Inteliquent, Inc. (Nasdaq:IQNT), a
leading provider of voice services, today announced its financial results for
the fourth quarter and declared its next quarterly dividend.

"We are very pleased with our strong results for the fourth quarter," said Ed
Evans, Chief Executive Officer of Inteliquent. "During the quarter, we
continued to see growth from our sales pipeline and we continue to focus on
cost management. The results of the fourth quarter reflect the improved
operating performance of our voice business."

Fourth Quarter Results

Inteliquent generated voice revenue of $50.2 million in the fourth quarter of
2013, an increase of 1.4% compared to $49.5 million of voice revenue in the
fourth quarter of 2012. The foregoing excludes data revenue from the fourth
quarter of 2012. The increase related primarily to an increase in the average
revenue per minute, which was partially offset by a reduction in minute
volumes.

Minutes of use decreased 4.7% to 30.4 billion minutes in the fourth quarter of
2013, compared to 31.9 billion minutes in the fourth quarter of 2012. Average
price per minute for the fourth quarter of 2013 was $0.00165, an increase of
6.5%, compared to $0.00155 for the same time period last year.

Revenue from continuing operations of $50.2 million for the fourth quarter of
2013 decreased $7.5 million compared to $57.7 million for the same period in
2012. Revenue from continuing operations for the fourth quarter of 2012
included $8.0 million related to the global data business sold on April 30,
2013. Data operations for the Americas reporting unit did not meet all
criteria required to receive discontinued operations accounting. The remaining
increase of $0.5 million in revenue from continuing operations is primarily
related to an increase in the average revenue per minute, which was partially
offset by a reduction in minute volumes.

Network and facilities expenses for the fourth quarter of 2013 decreased $2.2
million to $23.0 million from $25.2 million for the same period in 2012.
Approximately $2.5 million of this decrease resulted from the sale of the
global data business on April 30, 2013, offset by a $0.3 million increase due
to changes in the mix of voice services.

Combined operating expenses consisting of Operations, Sales and Marketing, and
General and Administrative expenses were $10.3 million for the fourth quarter
of 2013, a decrease of 33.5%, or $5.2 million, from $15.5 million for the same
period in 2012. The fourth quarter of 2012 amount includes $1.3 million of
data sales related expenses associated with our Americas reporting unit that
did not qualify for discontinued operations accounting. The remaining decrease
of $3.9 million was primarily the result of a decrease of $3.5 million in
non-cash compensation.

Depreciation and amortization expense was $3.1 million for the fourth quarter
of 2013, or 6.2% of revenue, compared to $5.1 million for the same period in
2012, or 8.8% of revenue.

Income from continuing operations in the fourth quarter of 2013 was $8.8
million, compared to loss from continuing operations of $55.4 million for the
same period in 2012.The loss from continuing operations of $55.4 million in
2012 includes an impairment charge of $68.4 million related to goodwill,
intangible assets and fixed assets.

On April 30, 2013, the Company completed its divestiture of the global data
business.In the fourth quarter of 2012, loss from discontinued operations,
net of income tax provision, was $30.4 million.

Adjusted EBITDA (a non-GAAP financial measure) from continuing operations in
the fourth quarter of 2013 was $18.0 million, an increase of 26.8%, compared
to $14.2 million for the same period in 2012.See "Use of Non-GAAP Financial
Measures" below for a discussion of the presentation of Adjusted EBITDA and
reconciliation to net income.

Free Cash Flow (a non-GAAP financial measure) in the fourth quarter of 2013
was $15.4 million, an increase of 63.8%, compared to $9.4 million for the same
period in 2012.See "Use of Non-GAAP Financial Measures" below for a
discussion of the presentation of Free Cash Flow and reconciliation to net
income.

2014 Business Outlook

Inteliquent's financial estimates for 2014 are as follows:

  *Revenue is expected to be between $200 - $210 million.
  *Adjusted EBITDA (a non-GAAP financial measure) is expected to be between
    $61 - $66 million.Adjusted EBITDA is calculated as EBITDA plus non-cash
    share-based compensation.
  *Capital Expenditures are expected to be between $10 - $12 million.

Recurring Cash Dividend

Inteliquent's board of directors has authorized and declared a quarterly
dividend of $0.075 per outstanding share of common stock. The payment date for
the quarterly dividend is March 27, 2014 and the record date for the quarterly
dividend is the close of business on March 13, 2014.

Conference Call & Web Cast

The fourth quarter conference call will be held on Thursday, February 27, 2014
at 10:00 a.m. (ET). A live web cast of the conference call as well as a replay
will be available online on the Company's corporate web site at
www.inteliquent.com. Participants can also access the call by dialing
1-877-941-8631 (within the United States and Canada), or 1-480-629-9644
(international callers). A replay of the call will be available approximately
two hours after the call has ended and will be available until 11:59 p.m. (ET)
on March 27, 2014. To access the replay, dial 1-800-406-7325 (within the
United States and Canada), or 1-303-590-3030 (international callers) and enter
the conference ID number: 4669752.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains "forward-looking statements" that involve
substantial risks and uncertainties. All statements, other than statements of
historical fact, included in this press release are forward-looking
statements. The words "anticipates," "believes," "efforts," "expects,"
"estimates," "projects," "proposed," "plans," "intends," "may," "will,"
"would," and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain these
identifying words. Actual results or events could differ materially from the
plans, intentions and expectations disclosed in the forward-looking statements
we make. Factors that might cause such differences include, but are not
limited to: the effects of competition, including direct connects, and
downward pricing pressure resulting from such competition; our regular review
of strategic alternatives; the impact of current and future regulation,
including intercarrier compensation reform enacted by the Federal
Communications Commission; the risks associated with our ability to
successfully develop and market new voice services, many of which are beyond
our control and all of which could delay or negatively affect our ability to
offer or market new services; the ability to develop and provide other new
services; technological developments; the ability to obtain and protect
intellectual property rights; the impact of current or future litigation; the
potential impact of any future acquisitions, mergers or divestitures; natural
or man-made disasters; the ability to attract, develop and retain executives
and other qualified employees; changes in general economic or market
conditions; matters arising out of or related to the impairment charge and
financial forecasting practices that were the subject of an investigation by
the Company's Audit Committee; the possibility that the Securities and
Exchange Commission may disagree with the Audit Committee's findings and may
require a restatement of financial statements or additional or different
remediation; any other proceedings which may be brought against the Company by
the Securities and Exchange Commission or other governmental agencies; the
outcome of shareholder actions filed against certain of the Company's officers
and directors; the possibility of private litigation related to the impairment
charge and financial forecasting practices that were subject to investigation
by the Audit Committee and related matters; and other important factors
included in our reports filed with the Securities and Exchange Commission,
particularly in the "Risk Factors" section of our Annual Report on Form 10-K
for the period ended December31, 2012, as such Risk Factors may be updated
from time to time in subsequentreports. Furthermore, such forward-looking
statements speak only as of the date of this press release. We undertake no
obligation to update any forward-looking statements to reflect events or
circumstances after the date of such statements.

About Inteliquent

Inteliquent is a leading provider of wholesale voice services for carriers and
service providers. Inteliquent is used by nearly all national and regional
wireless carriers, cable companies and CLECs in the markets it serves, and its
network carries approximately ten billion minutes of traffic per month. Please
visit Inteliquent's website at www.inteliquent.com and follow us on Twitter
@Inteliquent.

The condensed consolidated statements of operations, balance sheets and
statements of cash flows are unaudited and subject to reclassification.



INTELIQUENT, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)


                                   Three Months Ended   Years Ended
                                    December 31,         December 31,
(In thousands, except per share     2013     2012        2013      2012
amounts)
Revenue                             $ 50,240 $ 57,650    $ 213,373 $ 236,372
Operating expense:                                              
Network and facilities expense
(excluding depreciation and         23,029   25,171      93,745    97,652
amortization)
Operations                          6,107    9,701       28,595    37,481
Sales and marketing                 904      1,837       5,554     8,032
General and administrative          3,255    3,919       18,360    18,720
Depreciation and amortization       3,147    5,103       14,652    21,337
Carrier settlement                  --       --          --        9,000
Impairment of fixed assets          --       6,588       --        7,845
Impairment of goodwill              --       44,543      --        44,543
Impairment of intangible assets     --       17,318      --        17,318
Loss (gain) on sale of assets       (34)     (2)         192       (170)
Gain on sale of Americas Data       --       --          (23,171)  --
assets
                                                               
Total operating expense             36,408   114,178     137,927   261,758
                                                               
Income (loss) from operations       13,832   (56,528)    75,446    (25,386)
                                                               
Other (income) expense:                                         
Interest income                     (1)      (39)        (54)      (171)
Other expense (income)              (1)      --          4         (1)
                                                               
Total other income                  (2)      (39)        (50)      (172)
                                                               
Income (loss) from continuing
operations before provision for     13,834   (56,489)    75,496    (25,214)
income taxes
Provision for income taxes          5,000    (1,124)     13,524    1,958
                                                               
Income (loss) from continuing       8,834    (55,365)    61,972    (27,172)
operations
Loss from discontinued operations,  --       30,410      7,102     50,977
net of provision for income taxes
Gain on sale of discontinued        --       --          (783)     --
operations
                                                               
Net income (loss)                   $ 8,834  $ (85,775) $ 55,653  $ (78,149)
                                                               
Earnings (loss) per share –                                     
continuing operations:
Basic                               $ 0.27   $ (1.77)    $ 1.92    $ (0.88)
Diluted                             $ 0.27   $ (1.77)    $ 1.90    $ (0.88)
Loss per share – discontinued                                   
operations:
Basic                               $ --     $ (0.97)    $ (0.20)  $(1.66)
Diluted                             $ --     $ (0.97)    $ (0.19)  $ (1.66)
Earnings (loss) per share – net                                 
income (loss):
Basic                               $ 0.27   $ (2.74)    $ 1.72    $ (2.54)
Diluted                             $ 0.27   $ (2.74)    $ 1.71    $ (2.54)
Weighted average number of shares                               
outstanding:
Basic                               32,194   31,352      32,306    30,798
Diluted                             32,501   31,352      32,557    30,798
Dividends paid per share:           $ 0.06   $ 3.00      $ 1.44    $ 3.00



INTELIQUENT, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
                                                                
(In thousands, except per share amounts)        December 31, 2013 December31,
                                                                  2012
ASSETS                                                           
Current assets:                                                  
Cash and cash equivalents                       $ 77,004          $ 31,479
Receivables — net of allowance of $900 and      22,200            30,759
$423, respectively
Deferred income taxes – current                 720               1,210
Prepaid expenses                                2,375             6,405
Other current assets                            1,977             --
Current assets of discontinued operations       --                27,217
                                                                
Total current assets                            104,276           97,070
Property and equipment — net                    25,815            43,823
Restricted cash                                 125               962
Deferred income taxes – noncurrent              5,495             2,710
Other assets                                    1,534             1,035
                                                                
Total assets                                    $ 137,245         $ 145,600
                                                                
LIABILITIES AND SHAREHOLDERS' EQUITY                             
Current liabilities:                                             
Accounts payable                                $ 2,176           $ 7,546
Accrued liabilities:                                             
Taxes payable                                   2,437             2,160
Circuit cost                                    8,987             8,821
Rent                                            2,071             1,829
Payroll and related items                       3,079             2,687
Other                                           1,674             1,062
Current liabilities of discontinued operations  --                22,402
                                                                
Total current liabilities                       20,424            46,507
                                                                
Shareholders' equity:                                            
Preferred stock — par value of $.001; 50,000
authorized shares; no shares issued and         --                --
outstanding at December 31, 2013 and
December31, 2012
Common stock — par value of $.001; 150,000
authorized shares; 32,215 shares and 32,345     32                32
shares issued and outstanding at December 31,
2013 and December31, 2012, respectively
Less treasury stock, at cost; 3,351 shares and
3,083 shares at December 31, 2013 and           (51,668)          (50,103)
December31, 2012, respectively
Additional paid-in capital                      203,989           199,331
Accumulated other comprehensive loss            --                (4,904)
Accumulated deficit                             (35,532)          (45,263)
                                                                
Total shareholders' equity                      116,821           99,093
                                                                
Total liabilities and shareholders' equity      $ 137,245         $ 145,600
                                                                

                                                                  

INTELIQUENT, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
                                                          YearsEnded
                                                           December31,
(In thousands)                                            2013     2012
Operating                                                          
Net income (loss)                                          $ 55,653 $ (78,149)
Adjustments to reconcile net income (loss) to net cash             
provided by operating activities:
Depreciation and amortization                              15,894   29,749
Deferred income taxes                                      (2,295)  (8,592)
Impairment of fixed assets                                 --       16,149
Impairment of goodwill and intangibles                     --       75,340
Loss on sale of assets                                     458      732
Non-cash share-based compensation                          6,163    13,171
Gain on sale of Americas Data assets                       (23,171) --
Gain on sale of discontinued operations                    (783)    --
Gain (loss) on intercompany foreign exchange transactions  56       (328)
Excess tax deficiency (benefit) associated with            1,165    (1,066)
share-based payments
Changes in assets and liabilities:                                 
Receivables                                                5,181    4,745
Other current assets                                       180      (3,635)
Other noncurrent assets                                    199      1,247
Accounts payable                                           (3,830)  1,310
Accrued liabilities                                        3,922    11,193
Noncurrent liabilities                                     --       (297)
                                                                  
Net cash provided by operating activities                  58,792   61,569
                                                                  
Investing                                                          
Purchase of equipment                                      (12,470) (25,922)
Proceeds from sale of equipment                            28       206
Decrease in restricted cash                                837      --
Sale (purchase) of other investments                       534      --
Proceeds from sale of Americas Data assets, net of         9,698    --
transaction costs
Proceeds from sale of discontinued operations, net of      37,092   --
transaction costs
                                                                  
Net cash provided by (used for) investing activities       35,719   (25,716)
                                                                  
Financing                                                          
Proceeds from the exercise of stock options                468      1,396
Restricted shares withheld to cover employee taxes paid    (808)    (1,316)
Payments made for repurchase of common stock               (1,565)  --
Excess tax (deficiency) benefit associated with            (1,165)  1,066
share-based payments
Dividends paid                                             (45,922) (96,195)
                                                                  
Net cash used for financing activities                     (48,992) (95,049)
Effect of exchange rate changes on cash                    6        396
Net Increase (Decrease) In Cash And Cash Equivalents       45,525   (58,800)
Cash And Cash Equivalents — Beginning                      31,479   90,279
                                                                  
Cash And Cash Equivalents — End                            $ 77,004 $ 31,479
Supplemental Disclosure Of Cash Flow Information:                  
Cash paid for taxes                                        $ 12,695 $ 12,811
Supplemental Disclosure Of Noncash Flow Items:                     
Investing Activity — Accrued purchases of equipment        $ 1,742  $ 3,415
                                                                  

The following table includes selected financial and operational metrics,
sequentially, for the last five quarters.

Selected Financial and Operational Metrics

($ in millions,
except per      Three Months Ended                           Years Ended
minute figures)
               Dec. 31  Mar. 31  Jun. 30  Sep. 30  Dec. 31  December 31,
               2012     2013     2013     2013     2013     2013     2012
Total Revenue   $57.7    $59.3    $53.4    $50.4    $50.2    $213.4   $236.4
Adjusted EBITDA $14.2    $18.1    $16.8    $17.0    $18.0    $69.9    $71.8
Total Capital   $4.8     $6.2     $1.8     $1.9     $2.6     $12.5    $25.9
Expenditures
Free Cash Flow  $9.4     $12.0    $15.0    $15.0    $15.4    $57.5    $45.8
Voice Revenue   $49.5   $50.5    $49.8    $50.1    $50.2    $200.6 $206.0
Average Revenue $0.00155 $0.00165 $0.00169 $0.00165 $0.00165 $0.00166 $0.00156
per Minute
Minutes of Use                                                  
(in millions):
Local                                                           
Local Transit   13,692   13,643   13,921   14,211   14,330 56,105   59,286
Services
                                                               
Switch Access                                                   
(Long Distance)
Termination     13,048   11,889   11,242   11,364   10,875   45,370  53,774
Services
Origination     4,563    4,718    3,946    4,545    4,790    17,999   16,535
Services
                                                               
Other                                                           
International   619      396      327      298      431      1,452   2,386
Services
                                                               
Total Minutes   31,922   30,646   29,436   30,418   30,426   120,926  131,981
of Use
                                                               
# of Employees  290      281      143      140      143      143      290
^(1)
                                                               
(1) Number of employees in periods prior to Q2 2013 include employees related
to the global data business, which was divested on April 30, 2013

                      Use of Non-GAAP Financial Measures

In this press release we disclose "Adjusted EBITDA" and "Free Cash Flow",
which are non-GAAP financial measure. For purposes of SEC rules, a non-GAAP
financial measure is a numerical measure of a company's performance, financial
position, or cash flows that either excludes or includes amounts that are not
normally excluded or included in the most directly comparable measure,
calculated and prepared in accordance with generally accepted accounting
principles in the United Sates (GAAP).

EBITDA is defined as net income before (a)interest expense, net (b)income
tax expense and (c)depreciation and amortization. Adjusted EBITDA is defined
as EBITDA as further adjusted to eliminate: non-cash share-based
compensation; as well as non-recurring amounts incurred in connection with
settlement, the impairment of goodwill, intangible assets and fixed assets,
the discontinuation of our hosted service offering, severance payments, value
added tax payments related to the global data business we sold, professional
and legal fees incurred in connection with the internal investigation
conducted by our Audit Committee; a payment received under our insurance
policy related to Hurricane Sandy; and the gain on sale of the global data
business. We believe that the presentation of Adjusted EBITDA included in this
press release provides useful information to investors regarding our results
of operations because it assists in analyzing and benchmarking the performance
and value of our business. We believe that presenting Adjusted EBITDA
facilitates company-to-company operating performance comparisons of companies
within the same or similar industries by backing out differences caused by
variations in capital structure, taxation and depreciation of facilities and
equipment (affecting relative depreciation expense), which may vary for
different companies for reasons unrelated to operating performance. These
measures provide an assessment of controllable operating expenses and afford
management the ability to make decisions, which are expected to facilitate
meeting current financial goals as well as achieve optimal financial
performance. They provide an indicator for management to determine if
adjustments to current spending decisions are needed. Furthermore, we believe
that the presentation of Adjusted EBITDA has economic substance because it
provides important insight into our profitability trends, as a component of
net income, and allows management and investors to analyze operating results
with and without the impact of depreciation and amortization, interest and
income tax expense, non-cash share-based compensation, amounts incurred in
connection with settlement, the impairment of goodwill, intangible assets and
fixed assets, the discontinuation of our hosted service offering, severance
payments, value added tax payments related to the global data business we
sold, professional and legal fees incurred in connection with the internal
investigation conducted by our Audit Committee, a payment received under our
insurance policy related to Hurricane Sandy, and the gain on sale of the
global data business. Accordingly, these metrics measure our financial
performance based on operational factors that management can impact in the
short-term, namely the operational cost structure and expenses of our
business. In addition, we believe Adjusted EBITDA is used by securities
analysts, investors and other interested parties in evaluating companies, many
of which present an EBITDA measure when reporting their results. Although we
use Adjusted EBITDA as a financial measure to assess the performance of our
business, the use of Adjusted EBITDA is limited because it does not include
certain material costs, such as depreciation, amortization and interest and
taxes, necessary to operate our business. We disclose the reconciliation
between EBITDA and Adjusted EBITDA and net income below to compensate for this
limitation. While we use net income as a significant measure of profitability,
we also believe that Adjusted EBITDA, when presented along with net income,
provides balanced disclosure which, for the reasons set forth above, is useful
to investors in evaluating our operating performance and profitability.
Adjusted EBITDA included in this press release should be considered in
addition to, and not as a substitute for, net income as calculated in
accordance with generally accepted accounting principles as a measure of
performance.

Free Cash Flow is defined as Adjusted EBITDA less capital expenditures as
disclosed in the Consolidated Statement of Cash Flows.Free Cash Flow
represents the cash that a company is able to generate after cash expenses and
capital expenditures necessary to maintain or expand its asset
base.Management believes that Free Cash Flow is a relevant metric to provide
investors, as it is an indicator of the Company's ability to generate cash
that can potentially be used by the Company for capital investments,
acquisitions, payment of dividends or share repurchases.There are material
limitations to using Free Cash Flow to measure the Company's performance as it
excludes certain material items such as cash used to pay income taxes and
dividends.Free Cash Flow should not be used as a substitute for net change in
cash and cash equivalents on the Consolidated Statements of Cash Flows.

The following is a reconciliation of net income to EBITDA, Adjusted EBITDA and
Free Cash Flow:

              Three Months Ended                          Years Ended
              Dec. 31    Mar. 31 Jun. 30  Sep. 30 Dec. 31 December 31,
              2012       2013    2013     2013    2013    2013      2012
Net income     $(85,775) $6,900  $33,448  $6,471  $8,834  $55,653   $(78,149)
(loss)
Interest
expense        --        (2)   (2)     (1)    (1) (6)      (10)
(income) *
Provision
(benefit) for  (2,464)    3,833   740      4,177   5,000  13,750   3,915
income taxes *
Depreciation
and            6,951      5,444   4,011    3,293   3,146   15,894    29,749
amortization *
EBITDA         $(81,288) $16,175 $38,197  $13,940 $16,979 $85,291  $(44,495)
Non-cash
share-based    4,605      1,870   2,060    1,239   994    6,163    13,171
compensation
Impairment of  49,492     --      --       --      --     --       49,492
goodwill*
Impairment of
intangible     25,848     --      --       --      --     --       25,848
assets*
Impairment of  13,269     --      --       --      --     --       13,269
fixed assets*
Carrier        --       --      --       --      --    --       9,000
settlement
Hosted         1,623      --      --       (450)   (8)    (458)    3,402
services
Severance      691       96      278      505     15     894       1,168
Value added    --       --      --       --      --    --       895
tax
Internal       --      --      276      2,148   3      2,427    --
investigation
Insurance      --        --      --       (423)   --     (423)   --
recovery
Loss (gain) on
sale of global --       --      (23,964) 11     (1)    (23,954) --
data business
*
Adjusted       $14,240   $18,141 $16,847  $16,970 $17,982 $69,940  $71,750
EBITDA
                                                              
Capital        $4,846     $6,154  $1,828   $1,924  $2,564  $12,470   $25,922
Expenditures
                                                              
Free Cash Flow $9,394     $11,987 $15,019  $15,046 $15,418 $57,470   $45,828

* For comparison purposes, amounts include results from the global data
business for the respective periods, prior to divestiture on April 30, 2013,
which are reported as discontinued operations in the Company's condensed
consolidated statements of operations.


CONTACT: Analyst Contact:
         Kurt Abkemeier
         investorrelations@inteliquent.com

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