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Neutral Tandem Announces Fourth Quarter And Fiscal Year 2010 Financial Results

Highlights

  • Revenue of $199.8 million in 2010, an increase of 18.3%, compared to $168.9 million in 2009  
  • Adjusted EBITDA (a non-GAAP financial measure) of $83.1 million in 2010, a decrease of 1.8%, compared to $84.6 million in 2009  
  • Net income of $32.6 million in 2010, a decrease of 21.1%, compared to $41.3 million in 2009  
  • Billed minutes of 108.5 billion in 2010, an increase of 23.5% over 2009  
  • $103.1 million Acquisition of Tinet S.p.A. on October 1, 2010  
  • Company provides full year 2011 financial estimates

CHICAGO, March 14, 2011 (GLOBE NEWSWIRE) -- Neutral Tandem, Inc. (Nasdaq:TNDM), a leading provider of global interconnection services, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2010.

"This past year was a significant one for Neutral Tandem during which we completed a transformational acquisition and continued to produce solid execution against our long-term strategic plan," said Rian Wren, Chief Executive Officer of Neutral Tandem. "The acquisition of Tinet was an important milestone in our growth and we are pleased with the integration process to date. We believe that our efforts during the past year to build a platform for future growth provides us with an expanded value proposition that appeals to carriers, service providers, and content management firms worldwide."

Wren also commented on his retirement as Neutral Tandem's Chief Executive Officer effective April 1, 2011, "It has been a privilege to work with such a talented and dedicated team of people who strive every day to ensure Neutral Tandem's continued success. Over the last five years, we have collectively transformed Neutral Tandem to expand our global footprint and provide solutions for our customers for a variety of media, including voice, data and video. I look forward to continuing to serve on the company's Board of Directors and working closely with Ed Evans as he takes over as the new CEO and leads Neutral Tandem in the next stage of the company's evolution."

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