Internap Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net revenues of $82,972,000 against $68,907,000 a year ago. Income from operations was $2,174,000 against $732,000 a year ago. Loss before income taxes and equity in earnings of equity-method investment was $14,919,000 against $11,764,000 a year ago. Net loss attributable to company shareholders was $15,106,000 or $0.75 per basic and diluted share against $10,895,000 or $0.56 per basic and diluted share a year ago. Adjusted EBITDA (non-GAAP) was $29,386,000 against $23,277,000 a year ago. Net cash flows provided by operating activities were $10,288,000 against $3,306,000 a year ago. Capital expenditures were $12,003,000 against $10,965,000 a year ago. Adjusted EBITDA less CapEx was $17,383,000 against $12,312,000 a year ago. Normalized net loss (Non-GAAP) was $11,234,000 against $10,138,000 a year ago. The increase in revenue was primarily due to revenue from organic colocation growth, and the addition of SingleHop. The increase in Adjusted EBITDA was primarily driven by the addition of SingleHop and INAP's initiative to exit less profitable data center sites.

For the nine months, the company reported net revenues of $239,135,000 against $210,682,000 a year ago. Income from operations was $5,181,000 against loss of $829,000 a year ago. Loss before income taxes and equity in earnings of equity-method investment was $42,610,000 against $38,895,000 a year ago. Net loss attributable to company shareholders was $43,089,000 or $2.16 per basic and diluted share against $38,409,000 or $2.04 per basic and diluted share a year ago. Net cash provided by operating activities were $29,157,000 against $27,940,000 a year ago. Purchases of property and equipment were $27,317,000 against $23,198,000 a year ago. Additions to acquired and developed technology were $2,128,000 against $635,000 a year ago.

The company revised earnings guidance for the full year 2018. For the year, the company expects net revenues in the range of $320 million to $324 million compared to previous guidance of $320 million to $330 million. Net loss attributable to company shareholders expected to be in the range of $54 million to $51 million compared to previous guidance of $47 million to $37 million. Depreciation and amortization expected to be $88 million compared to previous guidance of $86 million. Interest expense expected to be $65 million compared to previous guidance of $61 million. Adjusted EBITDA expected to be in the range of $111 million to $114 million compared to previous guidance of $110 million to $120 million. Capital expenditures expected to be in the range of $40 million to $43 million compared to previous guidance of $40 million to $45 million.