MURRAY HILL, N.J., Feb. 2, 2012 /PRNewswire/ -- Glowpoint, Inc.
(NYSE Amex: GLOW), a leading global provider of cloud managed video
services, today announced that it expects to release its 2011
fourth quarter and year-end results, on or about March 8, 2012.
The Company has provided the following estimated results and
outlook information:
- Cloud Managed Video Services revenue is expected to grow in the
range of 21% - 23% for 2011 year-over-year. For 2012, the
Company is projecting growth in cloud based managed services in the
range of 21% - 23% year-over-year to approximately $15 - $16 million.
- Network Services revenue is expected to decrease in 2011 in the
range of 16% - 18% year-over-year. For 2012, the Company
expects Network Service revenue to decline in the range of 4% - 6%
to approximately $12 - $13
million.
- Professional Services and Event revenue is expected to grow in
the range of 55% - 57% in 2011 year-over-year. For 2012, the
Company expects this revenue to grow in the range of 26% - 28% to
approximately $2.0 million.
- The Company's non-GAAP Adjusted EBITDA margin for the full year
of 2011 is expected to be 8% - 10% of total revenues. For
2012, the Company anticipates its non-GAAP Adjusted EBITDA margin
to increase to 14% - 16% of total revenues.
Glowpoint's President and CEO Joe
Laezza stated, "We expect the 2011 year-end results to be
consistent with previous guidance, and I am optimistic for
continued success in 2012."
All fourth quarter and full year guidance for 2011 is
preliminary and unaudited and, therefore, subject to change.
The Company's financial results are subject to the completion of
the Company's audit and filing of 10-K, which is anticipated to be
completed on or about March 8, 2012.
Glowpoint will announce further details for its filing and
earnings conference call in the coming weeks.
Supporting Link:
- Glowpoint Investor Information
About Glowpoint
Glowpoint, Inc. (NYSE Amex: GLOW) provides cloud managed
video services that make the delivery of consistently high-quality
video conferencing and telepresence service as simple as using the
internet, between any technology, network and business. Using our
OpenVideo™ cloud architecture, Glowpoint enables organizations of
all sizes to adopt business-class video easily, scale instantly and
collaborate openly, yet securely across technology boundaries – to
realize the full value of visual communications. To learn more
please visit www.glowpoint.com.
Non-GAAP Financial Information
Adjusted EBITDA is defined as net income or loss from
continuing operations before depreciation, amortization, interest
expense, interest income, sales taxes and regulatory fee expense or
benefit, loss on extinguishment of debt, changes in fair value of
derivative financial instruments and stock-based compensation, and
severance. Adjusted EBITDA margin is calculated by dividing
Adjusted EBITDA by total revenues. Adjusted EBITDA is not intended
to replace operating income (loss), net income (loss), cash flow or
other measures of financial performance reported in accordance with
generally accepted accounting principles. Rather, Adjusted EBITDA
is an important measure used by management to assess the operating
performance of the company. Adjusted EBITDA as defined here may not
be comparable to similarly titled measures reported by other
companies due to differences in accounting policies. Additionally,
Adjusted EBITDA as defined here does not have the same meaning as
EBITDA as defined in our SEC filings prior to this date.
Forward looking and cautionary statements
The information in this release may contain statements that
are or may be deemed to be forward-looking statements and involve
factors, risks, and uncertainties that may cause actual results in
future periods to differ materially from such statements. These
factors, risks, and uncertainties include market acceptance and
availability of new video communications services; the
non-exclusive and terminable-at-will nature of sales agreements;
rapid technological change affecting demand for our services;
competition from other video communication service providers; and
the availability of sufficient financial resources to enable us to
expand our operations, as well as other risks detailed from time to
time in our filings with the Securities and Exchange Commission. We
make no representation or warranty that the information contained
herein is complete and accurate; we have no duty to correct or
update any information.
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INVESTOR CONTACT:
|
Investor
Relations
|
Glowpoint,
Inc.
|
+1
973-855-3411
|
investorrelations@glowpoint.com
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www.glowpoint.com
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SOURCE Glowpoint, Inc.