Internap Network Services Corp (INAP) Tops Q1 EPS by 11c

Internap Network Services Corp (NASDAQ: INAP) reported Q1 EPS of ($0.12), $0.11 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $75.9 million versus the consensus estimate of $77.18 million.

GUIDANCE:

Internap Network Services Corp sees FY2016 EPS of $310.00-$320.00, versus the consensus of $311.60.

"We delivered solid financial results for the first quarter of 2016 with adjusted EBITDA and adjusted EBITDA margin representing the highest levels for a first quarter in company history. We completed the transition into two distinct business units, which better aligns our cost structure and will enable us to respond better to customers and to grow faster as a result," said Michael Ruffolo, President and Chief Executive Officer of Internap. "Consistent with our guidance provided last quarter, churn from a small number of large customers created a headwind to first quarter revenue. With churn expected to decline in the second quarter of 2016, we believe we are positioned to accelerate profitable growth as we progress through 2016 and are excited by the implications for long-term shareholder value."

For earnings history and earnings-related data on Internap Network Services Corp (INAP) click here.

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