Internap Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Revises Earnings Guidance for the Full Year 2018
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.