To aid in the comparability of the aggregate core company information, ICG is presenting aggregate core company information assuming the company’s acquisition of GovDelivery occurred on January1st, 2009 by including GovDelivery’s historical results other than results of its GovDoc subsidiary that was recently sold for all periods presented.The press release is also available on our website, which again is icg.com. To access the press release on our website, go to our homepage and select the November 4, 2010 press release. The attachments to the release can be accessed by clicking on the PDF file contained within the release itself. Before we begin, I would like to briefly review our Safe Harbor language. The statements contained in this press release are not historical facts are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the effect of economic conditions generally, capital spending by our partner companies’ customers, our partner companies’ ability to compete successfully against their respective competitors and our partner companies’ ability to timely and effectively respond to technological developments, our ability to have continued access to capital and deploy capital effectively and on acceptable terms, our ability to maximize value in connection with divestures, our and our partner companies’ collective ability to retain key personnel and other risks and uncertainties detailed in ICG’s filing with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected. With that, let me turn the call over to Walter Buckley, ICG’s Chairman and CEO. Walter Buckley Thanks Karen and welcome and thank you for joining us this morning. Today I will provide an overview of ICG and its partner companies for the third quarter of 2010 and Kirk Morgan, our Chief Financial Officer, will follow with ICG’s financial results and our view of partner company performance for the quarter.
ICG had an excellent third quarter with very strong operating results from our core consolidated companies. Turning to Q3 highlights, as listed on slide four, core consolidated aggregate revenue growth was 32% compared to Q3 2009. Core consolidated aggregate EBITDA was $4.5 million compared to $1.6 million in Q3 2009 and significant customer traction at ICG Commerce, GovDelivery and InvestorForce provides a strong foundation for growth in 2011. With that, I’ll move onto partner company highlights which are listed on slides five through 10 and I’ll begin with ICG Commerce.ICG Commerce, a leading outsource procurement provider who revenues to $26.3 million in the third quarter, an increase from $20.5 million during the third quarter of 2009. ICG Commerce’s EBITDA excluding the impact of stock-based compensation and unusual items was $5.4 million in the third quarter, an increase from $2.7 million to comparable 2009 period. During the quarter, ICGC’s significant customer signings included four new multi-year multi-million dollar contracts of Fortune 1000 clients which contributed to over $87 million in total contract value. The company also continued to gain traction in the consumer products industry with three of its five new clients coming from its target sector. ICG Commerce expanded its relationships with three existing clients including Hertz and Pinnacle Foods. And finally, the company was recognized by the Black Book of Outsourcing as one of the top 50 outsourcing providers globally, the only procurement provider to make the top 50 list. GovDelivery, a leading provider for communication technology across all levels of government saw revenue growth of 53% compared to the third quarter of 2009 and with EBITDA positive for the quarter. During the third quarter, GovDelivery added 1.5 million end users bringing total end users to approximately 19 million and the company sent 705 million messages to the public compared to 471 million in Q3 2009. Read the rest of this transcript for free on seekingalpha.com