Due to Hurricane Sandy's Impact, PGi Anticipates 2012 Results will
be toward the Low End of its Prior Guidance
ATLANTA, Nov. 29, 2012 /PRNewswire/ -- Premiere
Global Services, Inc. (NYSE: PGI), a global leader in virtual
meetings for over 20 years, today provided an update on the impact
of Hurricane Sandy on its 2012 financial guidance. Due to fourth
quarter revenue loss associated with the storm, PGi anticipates
that its 2012 financial results will be within, but toward the low
end the 2012 financial outlook ranges it previously provided on
October 18, 2012: net revenues from
continuing operations are projected to be in the range of
$504-$507 million and non-GAAP
diluted EPS from continuing operations is projected to be in the
range of $0.73-$0.74*.
"Our thoughts continue to be with the victims still struggling
to recover from the storm, and we are thankful that all of our
associates are safe and our facilities and operations were
unaffected," said Boland T. Jones,
PGi founder, chairman and CEO. "We have a number of customers whose
businesses were disrupted by the hurricane, which temporarily
affected our revenue. However, our global business trends remain
strong, and we are optimistic in our outlook for the remainder of
the year and for 2013."
While PGi is still assessing the full financial impact of the
storm, the statements above are based on PGi's current
expectations, business trends and foreign currency exchange rates.
These statements contain forward-looking statements and company
estimates, and actual results may differ materially. PGi
assumes no duty to update any forward-looking statements made in
this press release.
* Non-GAAP diluted net income per share (EPS) from
continuing operations excludes equity-based compensation,
amortization expenses, non-recurring tax adjustments, restructuring
costs, excise and sales tax expense, excise and sales tax interest,
asset impairments and net legal settlements and related expenses.
Management uses non-GAAP measures of financial performance to
supplement the company's consolidated financial statements
presented in accordance with GAAP and internally as a means of
analyzing the company's current and future financial performance
and identifying trends in our financial condition and results of
operations. We have provided this information to investors to
assist in meaningful comparisons of past, present and future
operating results and to assist in highlighting the results of
ongoing core operations. These non-GAAP financial measures
may differ materially from comparable or similarly titled measures
provided by other companies and should be considered in addition
to, not as a substitute for or superior to, measures of financial
performance prepared in accordance with GAAP.
About Premiere Global Services, Inc. │ PGi
PGi has
been a global leader in virtual meetings for more than 20 years.
Our cloud-based solutions deliver multi-point, real-time virtual
collaboration using video, voice and file sharing technologies. PGi
solutions are available via desktops, tablets or mobile devices,
helping businesses worldwide be more productive, mobile and
green. PGi has a global presence in 25 countries and an
established base of more than 35,000 enterprise customers,
including 75% of the Fortune 100™. In the last
five years, we have hosted more than 725 million people from 137
countries in over 165 million meetings.
For more information, visit us at http://www.pgi.com.
Statements made in this press release, other than those
concerning historical information, should be considered
forward-looking and subject to various risks and uncertainties.
Such forward-looking statements are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995 and are made based on management's current expectations or
beliefs as well as assumptions made by, and information currently
available to, management. A variety of factors could cause actual
results to differ materially from those anticipated in Premiere
Global Services, Inc.'s forward-looking statements, including, but
not limited to, the following factors: competitive pressures,
including pricing pressures; technological changes and the
development of alternatives to our services; market acceptance of
new cloud-based, virtual meeting services, including our
iMeet® and GlobalMeet® services; our ability
to attract new customers and to retain and further penetrate our
existing customers; risks associated with challenging global
economic conditions; price increases from our telecommunications
service providers; service interruptions and network downtime;
technological obsolescence and our ability to upgrade our equipment
or increase our network capacity; concerns regarding the security
of transactions; future write-downs of goodwill or other intangible
assets; greater than anticipated tax liabilities; restructuring and
cost reduction initiatives and the market reaction thereto; our
level of indebtedness; risks associated with acquisitions and
divestitures; the impact of the sale of our PGiSend business; our
ability to protect our intellectual property rights, including
possible adverse results of litigation or infringement claims;
regulatory or legislative changes, including further government
regulations applicable to traditional telecommunications service
providers and data privacy; risks associated with international
operations and market expansion, including fluctuations in foreign
currency exchange rates; and other factors described from time to
time in our press releases, reports and other filings with the
Securities and Exchange Commission, including but not limited to
the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended December 31, 2011. All
forward-looking statements attributable to us or a person acting on
our behalf are expressly qualified in their entirety by this
cautionary statement.
Investor Calls
Sean O'Brien
Executive Vice President
Strategy & Communications
(404) 262-8462
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SOURCE Premiere Global Services, Inc.