ATLANTA, Jan. 22, 2015 /PRNewswire/ -- Premiere
Global Services, Inc. (NYSE: PGI), the world's largest pure-play
provider of collaboration software and services, today announced
preliminary results for the fourth quarter ended December 31, 2014. 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 approximately 12% of total non-GAAP
revenues. The financial results are subject to completion of PGi's
financial and accounting closing and review procedures.
"We had another solid year in 2014, with estimated top-line
growth of nearly 8 percent, double-digit earnings growth and
accelerating progress toward our goal of transitioning PGi to a
higher-value SaaS model," said Boland T.
Jones, PGi founder, chairman and CEO. "Like most global
companies, our near-term results will be negatively affected by
changes in foreign currency exchange rates, which are outside of
our control and not reflective of the true underlying health of our
business. We remain positive in our outlook for PGi, and we look
forward to providing details of our 2015 strategic plans and
opportunities during our earnings call next month."
2015 Financial Outlook
The following statements are
based on PGi's current expectations. These statements contain
forward-looking statements and company estimates and anticipated
results, and actual results may differ materially. PGi assumes no
duty to update any forward-looking statements made in this press
release.
Based on current business trends and current foreign currency
exchange rates, and assuming no additional acquisitions, PGi
anticipates that results in 2015 will be within the following
ranges: non-GAAP revenues are projected to be in the range of
$565-$575* million and non-GAAP
diluted EPS from continuing operations will be in the range of
$0.89-$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.
* Non-GAAP Financial Measures
The company's non-GAAP revenues exclude the impact of purchase
accounting adjustments related to deferred revenue, and non-GAAP
diluted earnings per share (EPS) from continuing operations
projections exclude equity-based compensation, amortization
expenses, non-recurring tax adjustments and related interest,
restructuring costs, excise and sales tax expense and related
interest, asset impairments, net legal settlements and related
expenses, acquisition-related costs and the impact of purchase
accounting adjustments related to deferred revenue. Management uses
these measures internally as a means of analyzing the company's
current and future financial performance and identifying trends in
our financial condition and results of operations. We have
provided this information to investors to assist in meaningful
comparisons of past, present and future operating results and to
assist in highlighting the results of ongoing core operations. A
reconciliation of these non-GAAP financial measures to the most
directly comparable GAAP financial measure will be included in the
company's final 2014 fourth quarter and year-end earnings
release.
About Premiere Global Services, Inc. │ PGi
PGi is the
world's largest pure-play provider of collaboration software and
services. PGi's unified collaboration platform empowers business
users and teams to connect, share ideas and manage projects with
the simplicity and everywhere-access of the latest cloud
technologies. PGi has a global presence in 25 countries, and its
award-winning solutions provide a collaborative advantage to nearly
50,000 enterprise customers, including 75% of the Fortune 100™. In
the last five years, PGi has helped over a billion people worldwide
connect, collaborate and get work done—in teams, large groups and
one-on-one. For more information, visit PGi at pgi.com.
Statements made in this press release, other than those
concerning historical information, should be considered
forward-looking and subject to various risks and uncertainties,
many of which are beyond our control. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and are made based
on management's current expectations or beliefs as well as
assumptions made by, and information currently available to,
management. A variety of factors could cause actual results to
differ materially from those anticipated in PGi's forward-looking
statements, including, but not limited to, the following factors:
competitive pressures, including pricing pressures; technological
changes and the development of alternatives to our services; market
acceptance of PGi's SaaS products, including iMeet® and
GlobalMeet®; our ability to attract new customers and to
retain and further penetrate our existing customers; our ability to
establish and maintain strategic reseller and distribution
relationships; risks associated with challenging global economic
conditions; price increases from our telecommunications service
providers; service interruptions and network downtime, including
undetected errors or defects in our software; technological
obsolescence and our ability to upgrade our equipment or increase
our network capacity; concerns regarding the security and privacy
of our customers' confidential information; future write-downs of
goodwill or other intangible assets; greater than anticipated tax
and regulatory liabilities; restructuring and cost reduction
initiatives and the market reaction thereto; our level of
indebtedness; risks associated with acquisitions and divestitures;
indemnification claims from the sale of our PGiSend business; our
ability to protect our intellectual property rights, including
possible adverse results of litigation or infringement claims;
regulatory or legislative changes, including further government
regulations applicable to traditional telecommunications service
providers and data privacy; risks associated with international
operations and market expansion, including fluctuations in foreign
currency exchange rates; and other factors described from time to
time in our press releases, reports and other filings made with the
Securities and Exchange Commission, including but not limited to
the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended December 31, 2013. All
forward-looking statements attributable to us or a person acting on
our behalf are expressly qualified in their entirety by this
cautionary statement. We do not undertake any obligation to update
or to release publicly any revisions to forward-looking statements
contained in this press release to reflect events or circumstances
occurring after the date of this press release or the date of the
statement, if a different date, or to reflect the occurrence of
unanticipated events.
Media and Investor Contact:
Sean O'Brien
(404) 262-8462
sean.obrien@pgi.com
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SOURCE Premiere Global Services, Inc.