Internap Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Revises Earnings Guidance for the Full Year 2017
For the nine months the company reported total revenues of $210,682,000 against $224,180,000 a year ago. Loss from operations was $829,000 against $88,073,000 a year ago. Loss before income taxes and equity in earnings of equity-method investment was $38,895,000 against $111,460,000 a year ago. Net loss was $38,377,000 against $111,633,000 a year ago. Net loss attributable to company shareholders was $38,409,000 or $0.51 per basic and diluted share against $111,633,000 or $2.14 per basic and diluted share a year ago. Net cash flows provided by operating activities were $25,357,000 against $36,265,000 a year ago. Purchases of property and equipment were $23,198,000 against $38,732,000 a year ago. Additions to acquired and developed technology were $635,000 against $1,211,000 a year ago.
The company revised earnings guidance for the full year 2017. For the year, the company expects revenue of $277 million to $282 million compared to previous guidance of $275 million to 285 million. Adjusted EBITDA expected to $87 million to $92 million compared to previous guidance of $85 million to $90 million. The company reaffirming capital expenditure expected to $32 million to $37 million. Net loss expected to $54 million to $49 million. Depreciation and amortization expected to $77 million to $77 million. Interest expense expected to $49 million to $49 million.