- Internap (NASDAQ:INAP +28.3%) announces the completion of its initial round of cost cuts and guides for next year. Part of the plan calls for raising new money, whether through equity sales or borrowing.
- The company is also evaluating the sale of non-core assets and expects to discontinue non-profitable programs.
- As a result, full-year 2017 revenue is expected to fall to $275M-$285M, and adjusted EBITDA to rise to $84M-$87M. Capex is expected to decline to $42M. The combination should result in significantly higher free cash flow.