Last $11.92 USD
Change Today -0.08 / -0.67%
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premiere global services inc (PGI) Key Developments

Premiere Global Services, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Financial Guidance for the Year 2014

Premiere Global Services, Inc. reported financial results for the fourth quarter and year ended December 31, 2013. The company reported that net loss for the fourth quarter ended December 31, 2013 was $1.4 million, or $0.03 loss per share, compared to a net income of $9.28 million, or $0.2 per share, for the same quarter ended December 31, 2012. Net revenues for the fourth quarter ended December 31, 2013 were $134.62 million, compared to $125.77 million for the same quarter ended December 31, 2012. Net income for the year ended December 31, 2013 was $18.32 million, or $0.39 per diluted share, compared to $27.59 million, or $0.57 per diluted share, for the year ended December 31, 2012. Net revenues for the year ended December 31, 2013 were $526.86 million, compared to $505.28 million for the year ended December 31, 2012. For 2014 the company expects net revenues from continuing operations to be in the range of $560 million to $570 million and non-GAAP diluted EPS from continuing operations to be in the range of $0.85 to $0.88.

Premiere Global Services Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2013; Provides Earnings Guidance for the Full Year 2014

Premiere Global Services, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net revenue of $134,625,000 against $125,771,000 a year ago. Operating income was $3,078,000 against $10,253,000 a year ago. Income from continuing operations before income taxes was $961,000 against $8,243,000 a year ago. Net loss from continuing operations was $1,280,000 compared to net income from continuing operations of $9,416,000 a year ago. Net loss was $1,400,000 against net income of $9,285,000 a year ago. Diluted loss per share was $0.03 against income of $0.20 a year ago. Diluted loss per share from continuing operations were $0.03 against income of $0.20 a year ago. Non-GAAP operating income was $15,334,000 against $13,389,000 a year ago. Non-GAAP net income from continuing operations was $9,188,000 against $8,338,000 a year ago. Non-GAAP diluted EPS from continuing operations was $0.20 against $0.18 a year ago. For the full year, the company reported net revenue of $526,865,000 million against $505,281,000 a year ago. Operating income was $34,737,000 against $41,426,000 a year ago. Income from continuing operations before income taxes was $27,916,000 against $33,500,000 a year ago. Net income from continuing operations was $18,854,000 compared to $28,055,000 a year ago. Net income was $18,316,000 against $27,590,000 a year ago. Diluted earnings per share were $0.39 against $0.57 a year ago. Diluted earnings per share from continuing operations were $0.40 against $0.58 a year ago. Net cash provided by operating activities was $75,304,000 against $69,849,000 a year ago. Capital expenditure was $31,774,000 against $32,338,000 a year ago. Non-GAAP operating income was $58,766,000 against $57,327,000 a year ago. Non-GAAP net income from continuing operations was $36,490,000 against $34,951,000 million a year ago. Non-GAAP diluted EPS from continuing operations was $0.78 against $0.73 a year ago. Free cash flow was $44,084,000 or $0.94 per share against $38,183,000 or $0.79 per share a year ago. For the quarter, the company reported asset impairments of $980,000 against $138,000 a year ago. The company provided earnings guidance for the full year 2014. For the period, the company expected net revenues from continuing operations are projected to be in the range of $560 million to $570 million and non-GAAP diluted EPS from continuing operations are projected to be in the range of $0.85 to $0.88. The company continues to anticipate that sales of its SaaS-based products will increase over 50% in 2014 compared to 2013 and will comprise in excess of 10% of its consolidated annual revenue run-rate by the end of 2014.

Premiere Seeks Acquisitions

Premiere Global Services, Inc. (NYSE:PGI) is seeking acquisitions. Specifically, we plan to continue to pursue a number of potential acquisition opportunities to enhance PGi's market share, to accelerate our SaaS revenue and to broaden our technology portfolio.

Premiere Global Services Announces Release of iMeet(R)

Premiere Global Services, Inc. announced an iMeet release that transforms the way small businesses collaborate and create multi-media content. iMeet, the cloud-based web conferencing software, now enables live video streaming and content creation using expanded format options and recording functionality. Businesses can now use iMeet to: Create on-demand video content, such as vLogs, client testimonials, end-user training and product demonstrations using the new iMeet recording feature; Host webinars and customer training sessions for up to 125 attendees and post the recordings online for on-demand viewing; Use email and social integration to share recorded "meeting minutes," including webcam video streams, files, attendee chat and notes; and Allow meeting guests to share their screens, improving collaboration and productivity by reducing time spent emailing files.

Premiere Global Services, Inc., Q4 2013 Earnings Call, Feb 20, 2014

Premiere Global Services, Inc., Q4 2013 Earnings Call, Feb 20, 2014

 

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Price/Sales 1.1x
Price/Book 2.0x
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