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Inteliquent Announces Strong First Quarter Results And Revises 2013 Financial Guidance

Q1 2013 Highlights
  • Divested global data business for $54.5 million on April 30, 2013  
  • Total revenue was $69.7 million, an increase of 3% from Q4 2012  
  • Voice services revenue was $50.5 million, an increase of 2% from Q4 2012  
  • Record data services revenue was $19.2 million, an increase of 5% from Q4 2012  
  • Adjusted EBITDA (a non-GAAP financial measure) was $18.0 million, an increase of 24% from Q4 2012

CHICAGO, May 1, 2013 (GLOBE NEWSWIRE) -- Neutral Tandem, Inc. d/b/a Inteliquent (Nasdaq:IQNT), a leading provider of voice services, today announced its financial results for the first quarter of 2013.

"Our performance thus far in 2013 is very encouraging," said Ed Evans, Chief Executive Officer of Inteliquent. "The sale of our data business accomplishes several goals. It is highly accretive and it allows us to focus all of our efforts on the voice business, which we expect will yield further improvements. We are becoming more disciplined in everything that we do."

Financial and Operating Results

In the first quarter of 2013, Inteliquent generated revenue of $69.7 million, a decrease of 1% compared to $70.7 million of revenue in the first quarter of 2012. The revenue decrease related primarily to a reduction in minute volumes for local transit and termination voice services, which was partially offset by an increase in volumes for our origination voice services and data services.

Voice minutes of use decreased by 11% to 30.6 billion minutes in the first quarter of 2013, compared to 34.2 billion minutes in the first quarter of 2012. Average price per minute increased by 6% over the same time period.

Data traffic volume increased by 47% to 10.7 terabits per second in the first quarter of 2013, compared to 7.3 terabits per second in the first quarter of 2012. Average price per megabit decreased by 24% over the same time period.

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