Last $9.74 USD
Change Today +0.04 / 0.41%
Volume 193.6K
PGI On Other Exchanges
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Berlin
As of 8:04 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

premiere global services inc (PGI) Key Developments

Premiere Global Services, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Asset Impairments for the Fourth Quarter of 2014; Reaffirms Earnings Guidance for the Year 2015

Premiere Global Services, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net revenue was $139,162,000 compared to $134,625,000 for the same period a year ago. Operating income was $4,914,000 compared to $3,078,000 for the same period a year ago. Income from continuing operations before income taxes was $2,460,000 compared to $961,000 for the same period a year ago. Net income from continuing operations was $3,394,000 or $0.07 per diluted share compared to net loss from continuing operations of $1,280,000 or $0.03 per diluted share for the same period a year ago. Net income was $3,298,000 or $0.07 per diluted share compared to net loss of $1,400,000 or $0.03 per diluted share for the same period a year ago. Non-GAAP revenue was $139,597,000 compared to $134,625,000 for the same period a year ago. Adjusted EBITDA was $24,361,000 compared to $24,063,000 for the same period a year ago. Non-GAAP operating income was $15,383,000 compared to $15,334,000 for the same period a year ago. Non-GAAP net income from continuing operations was $9,877,000 compared to $9,113,000 for the same period a year ago. Non-GAAP diluted EPS from continuing operations was $0.22 compared to $0.20 for the same period a year ago. For the full year, the company reported net revenue was $567,071,000 compared to $526,865,000 for the same period a year ago. Operating income was $29,790,000 compared to $34,737,000 for the same period a year ago. Income from continuing operations before income taxes was $21,739,000 compared to $27,916,000 for the same period a year ago. Net income from continuing operations was $17,443,000 or $0.38 per diluted share compared to $18,854,000 or $0.40 per diluted share for the same period a year ago. Net income was $17,064,000 or $0.37 per diluted share compared to $18,316,000 or $0.39 per diluted share for the same period a year ago. Net cash provided by operating activities was $78,587,000 compared to $75,122,000 for the same period a year ago. Capital expenditures were $35,195,000 compared to $31,774,000 for the same period a year ago. Non-GAAP revenue was $567,506,000 compared to $526,865,000 for the same period a year ago. Adjusted EBITDA was $101,594,000 compared to $92,524,000 for the same period a year ago. Non-GAAP operating income was $66,368,000 compared to $58,766,000 for the same period a year ago. Non-GAAP net income from continuing operations was $40,905,000 compared to $36,222,000 for the same period a year ago. Non-GAAP diluted EPS from continuing operations was $0.88 compared to $0.78 for the same period a year ago. Free cash flow was $53,202,000 or $1.15 per share compared to $50,234,000 or $1.08 per share for the same period a year ago. The company also reported asset impairments of $40,000 for the fourth quarter of 2014 compared to $980,000 for the same period a year ago. Based on current business trends and prevailing foreign currency exchange rates, and assuming no additional acquisitions, the company continues to anticipate that results in 2015 will be within the ranges. Non-GAAP revenue projected to be in the range of $575 million to $585 million and non-GAAP diluted EPS from continuing operations are projected to be in the range of $0.89 to $0.92. The company also reported that the ranges include an estimated negative year-over-year impact from changes in foreign currency exchange rates of approximately $19 million and $0.03 to non-GAAP revenue and non-GAAP diluted EPS from continuing operations, respectively. SaaS revenue will increase over 50% in 2015 compared to 2014. Tax rate expected to be in the range of 29% to 29.3%. The company continued to anticipate that gross margin will expand, barring any potential near-term impacts of acquisitions, as SaaS revenue comprises a greater percentage of total net revenue in 2015 and beyond.

Premiere Global Mulls Acquisitions

Premiere Global Services, Inc. (NYSE:PGI) plans to make acquisitions. Boland Jones, Chairman and Chief Executive Officer of the company said: “We're working to upgrade and transition our model from phone-based audio conferencing, which is lower-margin and priced on a usage basis, towards an emphasis on collaboration software sales. Our goal is to build on top of our very solid foundation of audio conferencing a new model business with more predictable license pricing, higher margins, and more sustainable growth opportunities. Towards this goal, we launched our purpose-built collaboration products iMeet and GlobalMeet, which we continually enhance through internal development and acquisitions.” Ted Schrafft, President of the company said: “The strong growing cash flow we generate from our foundational audio conferencing business supports our continuing investment in the development and growth of our suite of collaboration software and services. It also supports our ongoing acquisition program, and in expanding our global distribution, scale, and product portfolio. We continue to believe that offering a broad portfolio of collaboration products and services provides a critical opportunity for PGi to further differentiate itself from competitors in the market today.” He added: “We ended 2014 with significant liquidity. At year-end, we had cash and equivalents and room on our credit facility, including the accordion feature, totaling over $280 million. Consistent with our ongoing investment strategy, we plan to use this liquidity and our strong cash flow to fund our ongoing acquisition and investment strategy. And consistent with our past practice, we plan to continue to be opportunistic buyers of our common stock under our board-approved share repurchase program.”

Premiere Global Services, Inc. to Report Q4, 2014 Results on Feb 17, 2015

Premiere Global Services, Inc. announced that they will report Q4, 2014 results at 5:00 PM, US Eastern Standard Time on Feb 17, 2015

Premiere Global Services, Inc., Q4 2014 Earnings Call, Feb 17, 2015

Premiere Global Services, Inc., Q4 2014 Earnings Call, Feb 17, 2015

Premiere Global Services, Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2014 and Full Year of 2015

Premiere Global Services, Inc. provided earnings guidance for the fourth quarter ended December 31, 2014 and full year of 2015. Based upon its preliminary financial results, non-GAAP revenues for the fourth quarter of 2014 are expected to be approximately $139.5 million and non-GAAP diluted EPS from continuing operations is expected to be approximately $0.21. These results include a negative impact from changes in foreign currency exchange rates of approximately $2.5 million and $0.01 to non-GAAP revenues and non-GAAP diluted EPS from continuing operations, respectively, sequentially from the third quarter of 2014. Non-GAAP revenue from PGi's SaaS products is expected to exceed $16 million in the fourth quarter, representing app. Based on current business trends and current foreign currency exchange rates, and assuming no additional acquisitions, the company anticipates that results in 2015 will be within the following ranges: non-GAAP revenues are projected to be in the range of $565 million to $575 million and non-GAAP diluted EPS from continuing operations will be in the range of $0.89 to $0.92. These ranges include an estimated negative year-over-year impact from changes in foreign currency exchange rates of approximately $15 million and $0.03 to non-GAAP revenues and non-GAAP diluted EPS from continuing operations, respectively. PGi anticipates that sales of its SaaS-based products will increase over 50% in 2015 compared to 2014.

 

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