Investors - Press Releases -
- Record Q3 EBITDA up 73% Year-over-Year
- Q3 Core Revenue of $6.3 million up 14% Year-over-Year
BELLEVUE, WA – November 10, 2011 - Telanetix, Inc. (OTC BB: TNIX), a leading communications solutions provider offering next generation voice services and solutions to the business market, today reported financial results for its 2011 third quarter ended September 30, 2011.
Third Quarter Financial Highlights
Adjusted EBITDA is a non-GAAP financial measure. Management believes certain non-GAAP measures provide relevant and meaningful measures by which investors can evaluate the business. Management uses adjusted EBITDA to evaluate changes in the company's core earnings from operations, unaffected by non-cash expenses, expenses related to the company's capital structure, taxes or extraordinary events. EBITDA is defined as earnings or loss before interest, income taxes, depreciation and amortization, and the company defines Adjusted EBITDA as EBITDA adjusted for non-cash items including stock-based and warrant compensation, charges related to changes in fair market value of warrant and beneficial conversion feature liabilities, as well as the Company's recent recapitalization and severance charges. A reconciliation of net income to adjusted EBITDA can be found at the end of this release.
"We generated continued sequential growth in our core revenue and record adjusted EBITDA in the third quarter, and with the company on a more stable footing, we have a greater strategic focus on accelerating sales growth and aggressively growing our market share," said Doug Johnson, Telanetix' CEO. "The value proposition of our cloud-based hosted voice solutions resonates with customers because they deliver superior capabilities and performance at a fraction of the cost of traditional business solutions. As we move toward the end of the year, we are executing our plan to capitalize on the significant opportunity we see in the marketplace and deliver stronger top and bottom line growth."
Conference Call Information
Management will conduct a conference call at 1:30 p.m. PT (4:30 p.m. ET) today. To access the call in the United States, dial (866) 383-8009 and to access the call internationally, dial (617) 597-5342 and enter pass code 49856071. The call will also be broadcast live over the Internet and will be available for replay for 90 days at www.telanetix.com. A telephone replay will be available two hours after the call through November 17, 2011 by dialing (888) 286-8010 in the United States and (617) 801-6888 for international callers. All parties will need the following replay pass code 42176890.
About Telanetix, Inc.
Telanetix, Inc. (OTC BB: TNIX) is a leading communications solutions provider offering cloud based voice over IP (VoIP) services to all business market segments. Telanetix solutions meet the real-world communications demands of its customers with an industry-leading value proposition of cutting edge products and technology that brings enhanced productivity and industry-leading savings to our customers. The company's hosted telecom voice services, marketed under the "AccessLine" brand, give companies flexible calling solutions, a simpler installation experience, and a greater range of support options than traditional telecom providers. With a history of serving over 100,000 business customers, including Fortune 50 companies, we've scaled our award-winning technologies to meet the needs of entrepreneurial-minded small businesses.
Safe Harbor Statement
Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, our expectations regarding growth in our core revenue for 2011, anything relating or referring to future financial results and plans for future business development activities, including anticipated effects of distribution relationships, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission could materially and adversely affect our business, operating results and financial condition. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The companies undertake no obligation to publicly release statements made to reflect events or circumstances after the date hereof.
Download Full Release with attached tables here.