West Corporation Reports Third Quarter 2016 Results

OMAHA, Neb., Nov. 01, 2016 (GLOBE NEWSWIRE) -- West Corporation (Nasdaq:WSTC), a global provider of communication and network infrastructure services, today announced its third quarter 2016 results.
 Select Financial Information                      
Unaudited, in millions except per share amounts   Three Months Ended Sept. 30,       Nine Months Ended Sept. 30,  
    2016       2015     % Change     2016       2015     % Change
Revenue $ 571.4     $ 574.4       -0.5 %   $ 1,724.6     $ 1,711.8       0.7 %
Operating Income   109.5       124.4       -11.9 %     341.5       351.5       -2.8 %
Income from Continuing Operations   47.5       50.7       -6.3 %     125.1       148.6       -15.8 %
Earnings per Share from Continuing Operations - Diluted   0.56       0.60       -6.7 %     1.48       1.74       -14.9 %
Cash Flows from Continuing Operating Activities   104.1       126.7       -17.8 %     301.6       283.2       6.5 %
Cash Flows used in Continuing Investing Activities   (24.5 )     (30.1 )     -18.6 %     (67.1 )     (113.8 )     -41.1 %
Cash Flows used in Continuing Financing Activities   (111.0 )     (74.0 )     49.9 %     (223.5 )     (364.8 )     -38.7 %
                       
                       
Select Non-GAAP Financial Information 1                      
Unaudited, in millions except per share amounts   Three Months Ended Sept. 30,       Nine Months Ended Sept. 30,  
    2016       2015     % Change     2016       2015     % Change
EBITDA from Continuing Operations $ 158.5     $ 165.5       -4.3 %   $ 488.9     $ 491.3       -0.5 %
Adjusted EBITDA from Continuing Operations   165.3       171.3       -3.5 %     499.2       511.1       -2.3 %
Adjusted Operating Income   133.3       146.6       -9.1 %     402.1       420.8       -4.4 %
Adjusted Income from Continuing Operations   64.3       68.1       -5.6 %     193.7       202.3       -4.2 %
Adjusted Earnings per Share from Continuing Operations - Diluted   0.76       0.80       -5.0 %     2.29       2.36       -3.0 %
Free Cash Flow from Continuing Operating Activities 2   78.7       95.4       -17.5 %     202.3       187.0       8.2 %
                       

"Our non-conferencing businesses grew 5.3 percent, with particularly strong results in our UCaaS, healthcare advocacy and interactive services businesses," said Tom Barker, chairman and chief executive officer. "Conferencing revenue declined in the third quarter driving our consolidated revenue down 0.5 percent. Our adjusted organic revenue growth was 1 percent. We expect to finish the year with revenue and adjusted earnings per share within our original guidance ranges, albeit the low end, despite the decrease in conferencing revenue."

If you liked this article you might like

WSTC, MELI And HRB, Pushing Diversified Services Industry Downward

Analysts' Actions -- Chipotle, Cisco, Kellogg, Morgan Stanley and More

Insider Trading Alert - EMG, WSTC And VNOM Traded By Insiders

Insider Trading Alert - WSTC, AAPL And TSC Traded By Insiders

Insider Trading Alert - WDC, BOCH And WSTC Traded By Insiders