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Inteliquent Announces Third Quarter Results And Increases 2013 Financial Estimates

Third Quarter Highlights

  • Company increases 2013 financial estimates
  • Voice Revenues of $50.1 million
  • Billed minutes of 30.4 billion
  • Adjusted EBITDA (as defined below) of $17.0 million

CHICAGO, Oct. 31, 2013 (GLOBE NEWSWIRE) -- Inteliquent, Inc. (Nasdaq:IQNT), a leading provider of voice services, today announced its financial results for the third quarter.

"We are very pleased with our strong third quarter results," said Ed Evans, Chief Executive Officer of Inteliquent. "After the sale of our global data business earlier this year, our strategy of focusing on our voice business is showing positive results. We continue to see good momentum in our sales pipeline and a generally constructive pricing environment."

Third Quarter Results

Inteliquent generated voice revenues of $50.1 million in the third quarter of 2013, a decrease of 4.0% compared to $52.2 million of voice revenues in the third quarter of 2012. The decrease related primarily to a reduction in minute volumes for termination and international voice services, which was partially offset by an increase in minute volumes for origination voice services.

Minutes of use decreased 8.2% to 30.4 billion minutes in the third quarter of 2013, compared to 33.1 billion minutes in the third quarter of 2012. Average price per minute for the three months ended September 30, 2013 was $0.00165, an increase of 4.4%, compared to $0.00158 for the same time period last year.

As seen in the following chart of selected financial and operational metrics, sequentially, third quarter 2013 voice revenues and minutes of use both increased from the previous quarter while average price per minute decreased slightly.

Selected Financial and Operational Metrics

($ in millions, except per minute figures)          
  Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013
Voice Revenue $52.2 $49.8 $50.5 $49.8 $50.1
           
Average Revenue per Minute $0.00158 $0.00155 $0.00165 $0.00169 $0.00165
           
Minutes of Use (in billions):          
Local          
Local Transit Services 14.3 13.7 13.6 14.2 14.2
           
Switched Access (Long Distance)          
Termination Services 14.1 13.0 11.9 11.0 11.4
Origination Services 3.9 4.6 4.7 3.9 4.5
           
Other          
International Services 0.8 0.6 0.4 0.3 0.3
           
Total Minutes of Use 33.1 31.9 30.6 29.4 30.4
           
# of Employees (1) 291 290 281 143 140
           
(1) Number of employees in periods prior to Q2 2013 include employees related to the global data business, which was divested on April 30, 2013

Revenue from continuing operations of $50.4 million for the third quarter of 2013 decreased $9.2 million compared to $59.6 million for the same period in 2012. Revenue from continuing operations for the third quarter of 2012 included $6.6 million related to the global data business sold on April 30, 2013. Data operations for the Americas reporting unit did not meet all criteria required to receive discontinued operations treatment.

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