UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM 8-K
CURRENT
REPORT Pursuant
to
Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of report (Date of earliest event reported):
July 13, 2015
PREMIERE GLOBAL SERVICES, INC. |
(Exact Name of Registrant as Specified in Its Charter) |
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GEORGIA |
(State or Other Jurisdiction of Incorporation) |
001-13577 |
59-3074176 |
(Commission File Number) |
(IRS Employer Identification No.) |
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3280 Peachtree Road, NE, Suite 1000, Atlanta, Georgia |
30305 |
(Address of Principal Executive Offices) |
(Zip Code) |
404-262-8400 |
(Registrant’s Telephone Number, Including Area Code) |
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(Former Name or Former Address, if Changed Since Last Report) |
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02 Results of Operations and Financial Condition.
On July 13, 2015,
Premiere Global Services, Inc., or PGi, issued a press release regarding its preliminary second quarter 2015 financial results.
A copy of the press release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated herein by
reference.
In accordance with
General Instruction B.2 of Form 8-K, the information included or incorporated in Item 2.02 of this current report, including Exhibit
99.1, is being furnished to the Securities and Exchange Commission and shall not be deemed “filed” for purposes of
Section 18 of the Securities and Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
99.1 |
Press Release dated July 13, 2015. |
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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PREMIERE GLOBAL SERVICES, INC. |
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Date: July 13, 2015 |
By: |
/s/ David E. Trine |
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David E. Trine |
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Chief Financial Officer |
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(principal financial and accounting officer) |
Exhibit 99.1
Media and Investor Contact:
Sean O’Brien
(404) 262-8462
sean.obrien@pgi.com
PGi Announces Preliminary Second Quarter
2015 Results:
Non-GAAP Revenue $144.0-$145.0M*, Non-GAAP Diluted EPS from Continuing Ops $0.26-$0.27*;
UC&C SaaS Revenue Up Over 70%; Record ACV Bookings of Over $7M
Company to Release Final Second Quarter
2015 Results on Thursday, July 30, 2015
ATLANTA – July 13, 2015 – Premiere
Global Services, Inc. (NYSE: PGI), the world’s largest dedicated provider of collaboration software and services,
today announced preliminary results for the second quarter ended June 30, 2015. Based upon its preliminary financial results,
non-GAAP revenue for the second quarter of 2015 is expected to be in the range of $144.0 to $145.0* million and non-GAAP diluted
EPS from continuing operations is expected to be in the range of $0.26 to $0.27*. Unified communications and collaboration (UC&C)
SaaS revenue is expected to be in the range of $20.5 to $21.0 million in the second quarter, up greater than 70% year-over-year
and representing more than 14% of total non-GAAP revenue for the second quarter. These financial results are subject to completion
of PGi’s financial and accounting closing and review procedures.
“PGi’s number one strategic priority is to transition
our current base of audio conferencing customers to our award-winning UC&C SaaS products, while we continue working diligently
to acquire new customers,” said Boland T. Jones, PGi founder, chairman and CEO. “We are thrilled to pre-announce another
solid quarter of performance, led by our highest sales of our UC&C SaaS products ever. With record incremental annual contract
value (ACV) bookings sold—exceeding $7 million in the quarter—and sales pipelines at record highs, we remain optimistic
in our outlook for the remainder of 2015, and we look forward to recapping this success in our second quarter earnings call later
this month.”
PGi plans to release final second quarter results on July 30,
2015 and will hold a conference call to discuss the results that afternoon at 5:00 p.m., Eastern Time. To participate in the call,
please dial-in to the appropriate number below.
Conference Telephone Numbers:
U.S. & Canada: (800) 756-4697
International: (913) 981-5549
Participant Passcode: 7301652
The conference call will be simultaneously webcast via iMeetLive®.
Please visit pgi.com for webcast details and conference call replay information, as well as the webcast archive and the
text of the earnings release, including the financial and statistical information to be presented during the call.
* Non-GAAP Financial Measures
The company’s non-GAAP revenue and UC&C SaaS non-GAAP revenue include the deferred revenue from software licenses and
related support contracts from recent acquisitions and excludes the impact of purchase accounting adjustments related to deferred
revenue. Non-GAAP diluted earnings per share (EPS) from continuing operations also 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, foreign exchange transaction gains and
losses 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 earnings
release for the second quarter 2015. These non-GAAP financial measures may differ materially from comparable or similarly titled
measures provided by other companies and should be considered in addition to, not as a substitute for or superior to, measures
of financial performance prepared in accordance with GAAP.
About Premiere Global Services, Inc. │ PGi
PGi is the world’s largest dedicated provider of collaboration
software and services. We created iMeet®, an expanding portfolio of purpose-built applications designed to meet
the daily collaboration and communications needs of business professionals, with solutions for web, video and audio conferencing,
smart calendar management, webcasting, project management and sales acceleration. PGi’s award-winning unified communications
and collaboration (UC&C) solutions help nearly 50,000 businesses grow faster and operate more efficiently. To learn more,
visit us at pgi.com.
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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: finalization
of financial and operating results for the second quarter of 2015; competitive pressures, including pricing pressures; technological
changes and the development of alternatives to our services; market acceptance of PGi’s UC&C SaaS products, including
our iMeet® and GlobalMeet® solutions; our ability to attract, retain and expand the products and
services we provide to existing customers; our ability to establish and maintain strategic reseller and distribution relationships;
risks associated with global economic or market 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, 2014. All forward-looking statements attributable to us or a person acting on our behalf are expressly qualified in their entirety
by these cautionary statements. We undertake no obligation to publicly update or revise these forward looking statements for any
reason.