Attached files
| file | filename |
|---|---|
| 8-K - PREMIERE GLOBAL SERVICES, INC. 8-K - PREMIERE GLOBAL SERVICES, INC. | a6625172.htm |
| EX-99.1 - EXHIBIT 99.1 - PREMIERE GLOBAL SERVICES, INC. | a6625172ex99_1.htm |
Exhibit 99.2
| PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES | |||||||||||||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||||||||||||||||
| (Unaudited, in thousands, except per share data) | |||||||||||||||||||||||||||||||
| PRO FORMA CONTINUING OPERATIONS (Excludes PGiSend Business) | |||||||||||||||||||||||||||||||
| Q1-2009 | Q2-2009 | Q3-2009 | Q4-2009 | Q1-2010 | Q2-2010 | Q3-2010 | Q4-2010 | ||||||||||||||||||||||||
|
(As restated) |
(As restated) |
(As restated) |
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| Net revenues | $ | 117,860 | $ | 116,709 | $ | 111,404 | $ | 107,989 | $ | 112,495 | $ | 110,937 | $ | 109,497 | $ | 108,824 | |||||||||||||||
| Operating expenses: | |||||||||||||||||||||||||||||||
| Cost of revenues (exclusive of depreciation | |||||||||||||||||||||||||||||||
| and amortization shown separately below) | 45,367 | 45,500 | 45,092 | 42,958 | 44,075 | 45,356 | 44,834 | 44,434 | |||||||||||||||||||||||
| Selling and marketing | 30,812 | 29,776 | 28,152 | 29,646 | 32,968 | 28,791 | 28,502 | 31,773 | |||||||||||||||||||||||
|
General and administrative (exclusive of expenses |
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| shown separately below) | 12,813 | 14,243 | 14,359 | 14,871 | 14,450 | 14,550 | 14,955 | 14,621 | |||||||||||||||||||||||
| Research and development | 2,606 | 2,813 | 3,092 | 2,796 | 3,577 | 3,358 | 3,660 | 3,541 | |||||||||||||||||||||||
| Excise and sales tax expense | - | - | - | - | - | 439 | - | - | |||||||||||||||||||||||
| Depreciation | 5,019 | 5,442 | 5,700 | 5,998 | 6,332 | 6,209 | 6,375 | 7,064 | |||||||||||||||||||||||
| Amortization | 2,930 | 2,744 | 2,486 | 2,357 | 2,238 | 1,874 | 1,658 | 1,616 | |||||||||||||||||||||||
| Restructuring costs | 799 | 882 | 5,466 | 2,280 | 232 | 1,851 | 4,824 | 5,350 | |||||||||||||||||||||||
| Asset impairments | - | - | 642 | 42 | 38 | 91 | 47 | 114 | |||||||||||||||||||||||
| Net legal settlements and related expenses | (6 | ) | 112 | 9 | 182 | 339 | 41 | 35 | 244 | ||||||||||||||||||||||
| Acquisition-related costs | 340 | 231 | 41 | - | 174 | 142 | - | - | |||||||||||||||||||||||
| Total operating expenses | 100,680 | 101,743 | 105,039 | 101,130 | 104,423 | 102,702 | 104,890 | 108,757 | |||||||||||||||||||||||
| Operating income | 17,180 | 14,966 | 6,365 | 6,859 | 8,072 | 8,235 | 4,607 | 67 | |||||||||||||||||||||||
| Other (expense) income: | |||||||||||||||||||||||||||||||
| Interest expense | (3,407 | ) | (3,200 | ) | (2,766 | ) | (1,935 | ) | (2,417 | ) | (3,905 | ) | (2,814 | ) | (1,649 | ) | |||||||||||||||
| Unrealized gain on change in fair value of interest rate swaps | 941 | 1,145 | 786 | 494 | 484 | 490 | 254 | - | |||||||||||||||||||||||
| Interest income | 106 | 74 | 86 | 153 | 35 | 36 | 38 | 48 | |||||||||||||||||||||||
| Other, net | 15 | 425 | (243 | ) | 114 | 10 | 74 | (790 | ) | (369 | ) | ||||||||||||||||||||
| Total other expense, net | (2,345 | ) | (1,556 | ) | (2,137 | ) | (1,174 | ) | (1,888 | ) | (3,305 | ) | (3,312 | ) | (1,970 | ) | |||||||||||||||
| Income (loss) from continuing operations before income taxes | 14,835 | 13,410 | 4,228 | 5,685 | 6,184 | 4,930 | 1,295 | (1,903 | ) | ||||||||||||||||||||||
| Income tax expense (benefit) | 4,821 | 4,358 | 1,374 | 1,848 | 1,305 | 1,040 | 273 | (1,078 | ) | ||||||||||||||||||||||
| Net income (loss) from continuing operations | 10,014 | 9,052 | 2,854 | 3,837 | 4,879 | 3,890 | 1,022 | (825 | ) | ||||||||||||||||||||||
| Income (loss) on discontinued operations, net of taxes | 210 | (1,268 | ) | (15,470 | ) | 4,379 | 2,693 | 510 | 2,788 | (10,126 | ) | ||||||||||||||||||||
| Net income (loss) | $ | 10,224 | $ | 7,784 | $ | (12,616 | ) | $ | 8,216 | $ | 7,572 | $ | 4,400 | $ | 3,810 | $ | (10,951 | ) | |||||||||||||
| BASIC WEIGHTED-AVERAGE SHARES OUTSTANDING | 58,815 | 58,840 | 59,049 | 58,576 | 58,220 | 58,367 | 58,548 | 56,910 | |||||||||||||||||||||||
| Basic net income (loss) per share | |||||||||||||||||||||||||||||||
| Continuing operations | $ | 0.17 | $ | 0.15 | $ | 0.05 | $ | 0.07 | $ | 0.08 | $ | 0.07 | $ | 0.02 | $ | (0.01 | ) | ||||||||||||||
| Discontinued operations | 0.00 | (0.02 | ) | (0.26 | ) | 0.07 | 0.05 | 0.01 | 0.05 | (0.18 | ) | ||||||||||||||||||||
| Net income (loss) per share | $ | 0.17 | $ | 0.13 | $ | (0.21 | ) | $ | 0.14 | $ | 0.13 | $ | 0.08 | $ | 0.07 | $ | (0.19 | ) | |||||||||||||
| DILUTED WEIGHTED-AVERAGE SHARES OUTSTANDING | 59,347 | 59,439 | 59,564 | 58,880 | 58,535 | 58,774 | 58,898 | 56,910 | |||||||||||||||||||||||
| Diluted net income (loss) per share | |||||||||||||||||||||||||||||||
| Continuing operations | $ | 0.17 | $ | 0.15 | $ | 0.05 | $ | 0.07 | $ | 0.08 | $ | 0.07 | $ | 0.02 | $ | (0.01 | ) | ||||||||||||||
| Discontinued operations | 0.00 | (0.02 | ) | (0.26 | ) | 0.07 | 0.05 | 0.01 | 0.05 | (0.18 | ) | ||||||||||||||||||||
| Net income (loss) per share | $ | 0.17 | $ | 0.13 | $ | (0.21 | ) | $ | 0.14 | $ | 0.13 | $ | 0.07 | $ | 0.06 | $ | (0.19 | ) | |||||||||||||
| The sum of the quarters may differ from annual results due to rounding and the impact of the difference in weighted shares outstanding for the stand-alone periods. |