Financial and operating highlights
include:
Inteliquent, Inc. (NASDAQ:IQNT), the nation’s premier voice and
messaging interconnection partner for communications service
providers of all types, today announced its financial results for
the first quarter of 2016.
“Our first quarter results got us off to a great
start to 2016 and were in line with our expectations,” said Matt
Carter, Inteliquent’s President and Chief Executive Officer.
“The quarterly sequential growth in minutes, revenue and adjusted
EBITDA reflects successful execution across all pillars of our
Growth Forward Plan. In addition, we focused on diversifying
our revenue in the quarter with the launch of Inteliquent’s Omni
service, our comprehensive voice and messaging solution for the
next generation provider space. With Omni, we can provide our
customers with a one-stop shop solution for the delivery of all of
their inbound and outbound voice calls, message-enabled telephone
numbers and inbound and outbound SMS and MMS messaging, all powered
by the market’s most user-friendly Web portal and APIs for
integration and automation. We are pleased by the customer
activity on our portal and the number of telephone numbers ordered
during the quarter.”
First Quarter 2016
Results
Inteliquent generated revenue of $82.3 million in
the first quarter of 2016, an increase of 49.4%, or $27.2 million,
from $55.1 million of revenue in the first quarter of 2015.
The growth was primarily driven by an increase in minutes of use,
as well as an increase in the average rate per minute.
Minutes of use increased 41.1% to 49.4 billion minutes in the first
quarter of 2016, compared to 35.0 billion minutes in the first
quarter of 2015. The average rate per minute for the first
quarter of 2016 was $0.00167, an increase of 6.4%, compared to
$0.00157 for the first quarter of 2015.
Network and facilities expense for the first
quarter of 2016 was $50.2 million, or 61.0% of revenue, compared to
$22.8 million, or 41.4% of revenue, for the first quarter of
2015. The $27.4 million, or 120.2% increase in network and
facilities expense was primarily due to an increase in
traffic. The cost as a percent of revenue increased during the
three months ended March 31, 2016, primarily as a result of a
significant increase in the volume of long distance traffic, which
in turn resulted in an increase in the costs Inteliquent pays to
third parties to terminate that traffic.
Combined operating expenses consisting of
Operations, Sales and Marketing, and General and Administrative
expenses were $14.1 million, or 17.1% of revenue for the first
quarter of 2016, compared to $12.8 million, or 23.2% of revenue for
the first quarter of 2015. The $1.3 million, or 10.2%
increase in operating expenses was primarily due to additional
employee related costs as a result of increased headcount along
with certain non-recurring costs necessary to provision capacity
related to anticipated traffic volume growth.
Depreciation and amortization expense was $3.3
million for the first quarter of 2016, or 4.0% of revenue, compared
to $2.6 million for the first quarter of 2015, or 4.7% of
revenue. The increase in depreciation and amortization
expense for the first quarter 2016 was due to additional capital
expenditures incurred in the second half of 2015.
Other (income) expense in the first quarter of 2015
included a $1.3 million receipt from an escrow fund that had been
established in connection with the original purchase of the Tinet
global data business in 2010.
Net Income in the first quarter of 2016 was $9.1
million, compared to $11.2 million for the first quarter of
2015.
Adjusted EBITDA (a non-GAAP financial measure) in
the first quarter of 2016 was $19.1 million, a decrease of 9.9% or
$2.1 million, from $21.2 million for the first quarter of
2015. 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 first quarter of 2016 was $16.3 million, a decrease of 14.7% or
$2.8 million, from $19.1 million for the first quarter of
2015. See “Use of Non-GAAP Financial Measures” below for a
discussion of the presentation of Free Cash Flow and a
reconciliation to net income.
Cash DividendInteliquent’s Board
of Directors has declared a quarterly dividend of $0.16 per
outstanding share of common stock. The quarterly dividend will be
paid on June 9, 2016, to shareholders of record as of the close of
business on May 26, 2016.
"We are very pleased to announce this increase to
our next regular quarterly dividend," continued Mr. Carter. "As
I've stated previously, our board of directors regularly examines
our balance sheet and returns cash to shareholders when
appropriate. Accordingly, the board formally approved this
payout, which represents an almost seven percent increase when
compared to the prior payment.”
Conference Call & Web CastThe
first quarter conference call will be held on Thursday, April 28,
2016 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 1-800-723-6575 (within the United States
and Canada), or 1-785-830-1997 (international callers) and entering
the conference ID number: 4734705. A replay of the call will be
available approximately two hours after the call has ended and will
be available until 1:00 p.m. (ET) on May 28, 2016. To access the
replay, dial 1-888-203-1112 (within the United States and Canada),
or 1-719-457-0820 (international callers) and enter the conference
ID number: 4734705.
Cautionary Statement Regarding
Forward-Looking StatementsThis 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 (also referred to as an IP direct connect
or peering), 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; our ability to perform under the agreement we announced
with T-Mobile USA. Inc. on August 17, 2015 (as amended, the
“T-Mobile Agreement”), including the risk that the traffic we carry
under the T-Mobile Agreement will not meet our targets for
profitability, including EBITDA and Adjusted EBITDA, that we incur
damages or similar costs if we fail to meet certain terms in the
T-Mobile Agreement, or that T-Mobile terminates the T-Mobile
Agreement; the risk that our costs to perform under the T-Mobile
Agreement will be higher than we expect; our ability to market
Inteliquent’s Omni voice and messaging service, including the risk
that the service will not meet our targets for revenue or
profitability, including EBITDA and Adjusted EBITDA; the risk that
our costs to provide Inteliquent’s Omni voice and messaging service
will be higher than we expect; 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 voice services
successfully; 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; changes in
general economic or market conditions; 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 December 31,
2015, as such Risk Factors may be updated from time to time in
subsequent reports. 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 premier interconnection partner
for communication service providers of all types. As the
nation’s highest quality provider of voice and messaging
interconnection services, 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 17
billion minutes of traffic per month. With the recent launch of its
Omni solution, Inteliquent is now also fully dedicated to
supporting the growing market of next generation service
providers.
The Condensed Consolidated Statements of Income,
Balance Sheets and Statements of Cash Flows are unaudited and
subject to reclassification.
INTELIQUENT, INC. AND
SUBSIDIARIES |
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME |
(Unaudited) |
|
|
|
|
Three Months Ended |
|
|
|
|
March 31, |
|
(In thousands,
except per share amounts) |
|
|
2016 |
|
|
2015 |
|
Revenue |
|
|
$ |
82,329 |
|
|
$ |
55,054 |
|
Operating expense: |
|
|
|
|
|
|
|
|
|
Network and facilities expense
(excluding depreciation and amortization) |
|
|
|
50,198 |
|
|
|
22,765 |
|
Operations |
|
|
|
8,833 |
|
|
|
7,620 |
|
Sales and marketing |
|
|
|
903 |
|
|
|
643 |
|
General and administrative |
|
|
|
4,375 |
|
|
|
4,555 |
|
Depreciation and amortization |
|
|
|
3,343 |
|
|
|
2,643 |
|
(Gain) loss on sale of property and
equipment |
|
|
|
(5 |
) |
|
|
33 |
|
Total operating expense |
|
|
|
67,647 |
|
|
|
38,259 |
|
Income from
operations |
|
|
|
14,682 |
|
|
|
16,795 |
|
Other (income)
expense: |
|
|
|
|
|
|
|
|
|
Interest (income) expense |
|
|
|
(51 |
) |
|
|
16 |
|
Other (income) expense |
|
|
|
— |
|
|
|
(1,290 |
) |
Total other (income) expense |
|
|
|
(51 |
) |
|
|
(1,274 |
) |
Income before provision
for income taxes |
|
|
|
14,733 |
|
|
|
18,069 |
|
Provision for income
taxes |
|
|
|
5,597 |
|
|
|
6,887 |
|
Net Income |
|
|
$ |
9,136 |
|
|
$ |
11,182 |
|
Earnings per
share: |
|
|
|
|
|
|
|
|
|
Basic |
|
|
$ |
0.27 |
|
|
$ |
0.33 |
|
Diluted |
|
|
$ |
0.27 |
|
|
$ |
0.33 |
|
Weighted average number
of shares outstanding: |
|
|
|
|
|
|
|
|
|
Basic |
|
|
|
33,979 |
|
|
|
33,496 |
|
Diluted |
|
|
|
34,220 |
|
|
|
33,970 |
|
Dividends paid per
share: |
|
|
$ |
0.15 |
|
|
$ |
0.15 |
|
|
|
|
|
|
|
|
|
|
|
INTELIQUENT, INC. AND
SUBSIDIARIES |
CONDENSED CONSOLIDATED BALANCE
SHEETS |
(Unaudited) |
|
|
|
|
March 31, |
|
|
December 31, |
|
(In thousands,
except per share amounts) |
|
|
2016 |
|
|
2015 |
|
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
$ |
114,690 |
|
|
$ |
109,050 |
|
Receivables — net of allowance of
$2,377 and $2,365 respectively |
|
|
|
45,728 |
|
|
|
39,589 |
|
Prepaid expenses |
|
|
|
5,207 |
|
|
|
9,376 |
|
Other current assets |
|
|
|
50 |
|
|
|
219 |
|
Total current assets |
|
|
|
165,675 |
|
|
|
158,234 |
|
Property and
equipment—net |
|
|
|
38,577 |
|
|
|
37,336 |
|
Restricted cash |
|
|
|
345 |
|
|
|
345 |
|
Deferred income
taxes-noncurrent |
|
|
|
638 |
|
|
|
1,059 |
|
Other assets |
|
|
|
895 |
|
|
|
1,075 |
|
Total assets |
|
|
$ |
206,130 |
|
|
$ |
198,049 |
|
LIABILITIES AND
SHAREHOLDERS’
EQUITY |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
$ |
3,433 |
|
|
$ |
424 |
|
Accrued liabilities: |
|
|
|
|
|
|
|
|
|
Taxes payable |
|
|
|
516 |
|
|
|
624 |
|
Network and facilities |
|
|
|
11,290 |
|
|
|
10,984 |
|
Rent |
|
|
|
2,048 |
|
|
|
1,969 |
|
Payroll and related items |
|
|
|
2,710 |
|
|
|
2,918 |
|
Other |
|
|
|
1,174 |
|
|
|
1,297 |
|
Total current liabilities |
|
|
|
21,171 |
|
|
|
18,216 |
|
Shareholders’
equity: |
|
|
|
|
|
|
|
|
|
Preferred stock—par value of $.001;
50,000 authorized shares; no shares issued and outstanding at
March 31, 2016 and December 31, 2015 |
|
|
|
— |
|
|
|
— |
|
Common stock—par value of $.001;
150,000 authorized shares; 34,065 shares and 33,891 shares
issued and outstanding at March 31, 2016 and December 31, 2015,
respectively |
|
|
|
34 |
|
|
|
34 |
|
less treasury stock, at cost; 3,351
shares at March 31, 2016 and December 31, 2015 |
|
|
|
(51,668 |
) |
|
|
(51,668 |
) |
Additional paid-in capital |
|
|
|
226,568 |
|
|
|
225,474 |
|
Retained earnings |
|
|
|
10,025 |
|
|
|
5,993 |
|
Total shareholders’ equity |
|
|
|
184,959 |
|
|
|
179,833 |
|
Total liabilities and
shareholders' equity |
|
|
$ |
206,130 |
|
|
$ |
198,049 |
|
INTELIQUENT, INC. AND
SUBSIDIARIES |
CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS |
(Unaudited) |
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
March 31, |
|
(In thousands) |
|
|
2016 |
|
|
2015 |
|
Operating |
|
|
|
|
|
|
|
|
|
Net income |
|
|
$ |
9,136 |
|
|
$ |
11,182 |
|
Adjustments to reconcile net income
to net cash flows provided by operating activities: |
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
3,343 |
|
|
|
2,643 |
|
Deferred income taxes |
|
|
|
421 |
|
|
|
(17 |
) |
(Gain) loss on sale of property and
equipment |
|
|
|
(5 |
) |
|
|
33 |
|
Gain on settlement of Tinet
escrow |
|
|
|
— |
|
|
|
(1,290 |
) |
Non-cash share-based
compensation |
|
|
|
1,028 |
|
|
|
1,778 |
|
Provision (benefit) for
uncollectible accounts |
|
|
|
11 |
|
|
|
(30 |
) |
Excess tax benefit associated with
share-based payments |
|
|
|
(470 |
) |
|
|
(158 |
) |
Changes in assets and
liabilities: |
|
|
|
|
|
|
|
|
|
Receivables |
|
|
|
(6,150 |
) |
|
|
(719 |
) |
Other current assets |
|
|
|
4,338 |
|
|
|
(22 |
) |
Other noncurrent assets |
|
|
|
180 |
|
|
|
(493 |
) |
Accounts payable |
|
|
|
1,219 |
|
|
|
258 |
|
Accrued liabilities |
|
|
|
352 |
|
|
|
3,134 |
|
Net cash provided by operating
activities |
|
|
|
13,403 |
|
|
|
16,299 |
|
Investing |
|
|
|
|
|
|
|
|
|
Purchase of property and
equipment |
|
|
|
(2,795 |
) |
|
|
(2,089 |
) |
Proceeds from sale of property and
equipment |
|
|
|
5 |
|
|
|
26 |
|
Net cash used for investing
activities |
|
|
|
(2,790 |
) |
|
|
(2,063 |
) |
Financing |
|
|
|
|
|
|
|
|
|
Proceeds from the exercise of stock
options |
|
|
|
200 |
|
|
|
72 |
|
Restricted shares withheld to cover
employee taxes paid |
|
|
|
(539 |
) |
|
|
(624 |
) |
Dividends paid |
|
|
|
(5,104 |
) |
|
|
(5,027 |
) |
Excess tax benefit associated with
share-based payments |
|
|
|
470 |
|
|
|
158 |
|
Net cash used for financing
activities |
|
|
|
(4,973 |
) |
|
|
(5,421 |
) |
Net increase in cash
and cash equivalents |
|
|
|
5,640 |
|
|
|
8,815 |
|
Cash and cash
equivalents — Beginning |
|
|
|
109,050 |
|
|
|
104,737 |
|
Cash and cash
equivalents — Ending |
|
|
$ |
114,690 |
|
|
$ |
113,552 |
|
Supplemental disclosure
of cash flow information: |
|
|
|
|
|
|
|
|
|
Cash paid for taxes |
|
|
$ |
711 |
|
|
$ |
6,207 |
|
Cash paid for interest |
|
|
$ |
— |
|
|
$ |
— |
|
Supplemental disclosure
of noncash flow items: |
|
|
|
|
|
|
|
|
|
Investing activity — Accrued
purchases of property and equipment |
|
|
$ |
1,810 |
|
|
$ |
567 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table includes selected
financial and operational metrics.
Selected Financial and Operational Metrics: |
|
|
|
Three Months Ended |
|
(In millions, except
average revenue per minute and # of employees) |
|
|
Mar. 31 |
|
|
Jun. 30 |
|
|
Sept. 30 |
|
|
Dec. 31 |
|
|
Mar. 31 |
|
|
|
|
2015 |
|
|
2015 |
|
|
2015 |
|
|
2015 |
|
|
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue |
|
|
$ |
55.1 |
|
|
$ |
52.9 |
|
|
$ |
63.7 |
|
|
$ |
77.0 |
|
|
$ |
82.3 |
|
Adjusted EBITDA |
|
|
$ |
21.2 |
|
|
$ |
21.0 |
|
|
$ |
16.9 |
|
|
$ |
18.4 |
|
|
$ |
19.1 |
|
Total Capital
Expenditures |
|
|
$ |
2.1 |
|
|
$ |
2.8 |
|
|
$ |
16.0 |
|
|
$ |
5.5 |
|
|
$ |
2.8 |
|
Free Cash Flow |
|
|
$ |
19.1 |
|
|
$ |
18.2 |
|
|
$ |
0.9 |
|
|
$ |
12.9 |
|
|
$ |
16.3 |
|
Average Revenue per
Minute* |
|
|
$ |
0.00157 |
|
|
$ |
0.00153 |
|
|
$ |
0.00159 |
|
|
$ |
0.00166 |
|
|
$ |
0.00167 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Minutes of Use *: |
|
|
|
34,983 |
|
|
|
34,591 |
|
|
|
40,157 |
|
|
|
46,348 |
|
|
|
49,366 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
# of Employees |
|
|
|
160 |
|
|
|
160 |
|
|
|
171 |
|
|
|
177 |
|
|
|
183 |
|
*
Historical Minutes of use and Average Rate per Minute figures have
been adjusted to include all minutes that were carried on our
network for each respective quarter. |
Use of Non-GAAP Financial
Measures
In this press release we disclose “Adjusted EBITDA”
and “Free Cash Flow,” which are non-GAAP financial measures. 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; amounts paid in connection with the resolution of
employee related matters and amounts received by the Company from
an escrow fund related to the purchase of Tinet as a result of a
settlement with the sellers of Tinet. 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 paid
in connection with the resolution of employee related matters and
amounts received by the Company from an escrow fund related to the
purchase of Tinet as a result of a settlement with the sellers of
Tinet. 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 Condensed Consolidated
Statements 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 Condensed
Consolidated Statements of Cash Flows.
The following is a reconciliation of net income to
EBITDA, Adjusted EBITDA and Free Cash Flow:
|
Three Months Ended |
|
(In thousands) |
Mar. 31 |
|
|
Jun. 30 |
|
|
Sept. 30 |
|
|
Dec. 31 |
|
|
Mar. 31 |
|
|
2015 |
|
|
2015 |
|
|
2015 |
|
|
2015 |
|
|
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
11,182 |
|
|
$ |
10,000 |
|
|
$ |
8,267 |
|
|
$ |
8,680 |
|
|
$ |
9,136 |
|
Interest expense
(income) |
|
16 |
|
|
|
11 |
|
|
|
9 |
|
|
|
(7 |
) |
|
|
(51 |
) |
Provision for income
taxes |
|
6,887 |
|
|
|
6,031 |
|
|
|
4,399 |
|
|
|
5,255 |
|
|
|
5,597 |
|
Depreciation and
amortization |
|
2,643 |
|
|
|
2,600 |
|
|
|
2,894 |
|
|
|
3,255 |
|
|
|
3,343 |
|
EBITDA |
$ |
20,728 |
|
|
$ |
18,642 |
|
|
$ |
15,569 |
|
|
$ |
17,183 |
|
|
$ |
18,025 |
|
Non-cash share-based
compensation |
|
1,778 |
|
|
|
933 |
|
|
|
1,338 |
|
|
|
1,173 |
|
|
|
1,028 |
|
Amounts paid in
connection with the resolution of employee related matters |
|
- |
|
|
|
1,440 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Gain on receipt
resulting from Tinet escrow settlement |
|
(1,290 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Adjusted EBITDA |
$ |
21,216 |
|
|
$ |
21,015 |
|
|
$ |
16,907 |
|
|
$ |
18,356 |
|
|
$ |
19,053 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures |
|
2,089 |
|
|
|
2,841 |
|
|
|
16,013 |
|
|
|
5,496 |
|
|
|
2,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Free Cash Flow |
$ |
19,127 |
|
|
$ |
18,174 |
|
|
$ |
894 |
|
|
$ |
12,860 |
|
|
$ |
16,258 |
|
Analyst Contact:
Kurt Abkemeier
investorrelations@inteliquent.com
Inteliquent, Inc. (NASDAQ:IQNT)
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