This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Boingo Wireless Reports Fourth Quarter And Full Year 2012 Financial Results

LOS ANGELES, Feb. 21, 2013 (GLOBE NEWSWIRE) -- Boingo Wireless, Inc. (Nasdaq:WIFI), the world's leading Wi-Fi software and services provider, today announced the company's financial results for the fourth quarter and full year ended December 31, 2012.

Fourth Quarter 2012 Financial Highlights

Boingo Wireless reported revenue of $28.0 million, compared to $25.9 million for the fourth quarter of 2011, an increase of 8.1 percent.

Net income attributable to common stockholders was $1.1 million, or $0.03 per diluted share. This is compared to net income attributable to common stockholders of $1.9 million, or $0.05 per diluted share, for the fourth quarter of 2011.

Adjusted EBITDA was $7.3 million, compared to $8.9 million for the fourth quarter of 2011, a decrease of 18.1 percent. Adjusted EBITDA, which is a non-GAAP financial measure, is defined below and is reconciled to net income, the most comparable measure under GAAP, in the schedule entitled "Reconciliation of Net Income Attributable to Common Stockholders to Adjusted EBITDA."

Full Year 2012 Financial Highlights

Boingo Wireless reported revenue of $102.5 million, compared to $94.6 million in 2011, an increase of 8.4 percent.

Net income attributable to common stockholders was $7.0 million, or $0.19 per diluted share. This is compared to net income attributable to common stockholders of $4.7 million, or $0.17 per diluted share, in 2011.

Adjusted EBITDA was $30.6 million, compared to $28.6 million in 2011, an increase of 7.3 percent.

Management Commentary

"2012 was a transition year for Boingo as we positioned our business to capitalize on the massive growth in mobile data and the evolving wireless ecosystem," said David Hagan, President and Chief Executive Officer of Boingo Wireless. "Our full year performance benefited from growing and investing in our managed and operated and affiliated footprints, adding a crowd-sourced capability to grow our network even faster, investing in our software and technology platform in anticipation of cellular offload and increasing ad sales through the Cloud Nine Media acquisition. Subsequent to quarter end, we were pleased to announce that we have entered into a merger agreement to acquire Endeka Group, Inc. ("Endeka"), the sole provider of commercial Wi-Fi services to United States military bases and federal law enforcement training facilities. Growth in our managed and operated footprint within new verticals and segments is expected to contribute to the longer-term stability of our retail platform."

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,083.80 -2.83 -0.02%
S&P 500 1,987.98 +0.97 0.05%
NASDAQ 4,472.1080 -1.5890 -0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs