Mon, Nov. 7, 2:05 PM
- Inteliquent (NASDAQ:IQNT) is up 1% -- trailing broader market gains, but at $22.86, just short of a $23 buyout price -- after it released Q3 earnings that missed on the bottom line.
- Revenues jumped 56% mainly due to minutes of use for the telecom interconnection firm, which rose 55% to 62.3B minutes. Average rate per minute was flat at $0.00159.
- Net income rose to $9.4M from the prior year's $8.3M. Adjusted EBITDA rose 13% to $19.1M.
- Press Release
Mon, Nov. 7, 7:06 AM
Thu, Nov. 3, 3:00 PM
Thu, Nov. 3, 12:43 PM
Thu, Nov. 3, 9:15 AM
Wed, Nov. 2, 5:37 PM
Wed, Nov. 2, 5:30 PM
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Wed, Nov. 2, 4:44 PM
- Comms interconnection firm Inteliquent (NASDAQ:IQNT) has agreed to be acquired by an affiliate of private-equity firm GTCR, for $23/share in cash.
- That's a total value of about $800M. Shares closed today at $16.74, making for a 37.4% premium; they're up 33.7% after hours, to $22.38.
- GTCR will merge Inteliquent with communications enablement firm Onvoy.
- Inteliquent's board unanimously approved; the deal will need approval from stockholders, and it's expected to close in the first half of 2017.
- Inteliquent has canceled its earnings conference call, which was set for tomorrow at 10 a.m.; it will file its 10-Q on or before Nov. 9.
Wed, Sep. 21, 3:02 PM
- As it searches for a permanent chief financial officer, Inteliquent (IQNT +2.8%) has appointed Eric Carlson its interim principal financial officer and interim principal accounting officer.
- The moves are effective Saturday. Carlson is the company's controller, and has been since joining the company in May 2004.
- The company had announced on Monday that CFO and executive VP Kurt Abkemeier was resigning.
- Carlson had acted as interim principal financial officer before. "We are supremely confident in his ability to maintain the positive momentum to transform our business into the next-generation space while we conduct our search," says CEO Matt Carter.
Tue, Sep. 20, 3:00 PM
Mon, Sep. 19, 4:38 PM
- Inteliquent (IQNT +0.4%) says its chief financial officer, Kurt Abkemeier, is departing for a career opportunity at a software company.
- Abkemeier will exit Sept. 23.
- "We will now conduct a nationwide search for his successor," says CEO Matt Carter. "I am confident that this search will produce a candidate who can continue to lead us as we continue to transform our business into the next-generation telecom space featuring our Omni IQ suite of services.”
Wed, Aug. 10, 4:12 PM
Tue, Aug. 2, 3:02 PM
Tue, Aug. 2, 1:56 PM
- After a stable month hanging around the $20-$21 mark, shares of Inteliquent (NASDAQ:IQNT) are off 21.4% after profits missed expectations in Q2 and the company trimmed its full-year guidance.
- Inteliquent cut estimates for 2016 revenue to $360M-$370M from a previous $370M-$390M (below estimates for $375M), and lowered its forecast for EBITDA of $80M-$85M from $82M-$92M (vs. consensus for $88.7M).
- Q2 net income fell 10% to $9M. EBITDA slipped to $19.2M from the previous $21M (and below an expected $20.7M).
- Revenue grew both in minutes of use (up 55.8% to 53.9B minutes) and revenue per minute (up 9.8% to $0.00168).
- Press Release
Tue, Aug. 2, 12:54 PM
Tue, Aug. 2, 7:01 AM