Internap Network Services (INAP) Reports Q1 Revenues of $72.13M, Topping Estimates; Raises FY17 Adj. EBITDA Outlook

Internap Network Services (NASDAQ: INAP) reported Q1 EPS of $. Revenue for the quarter came in at $72.13 million versus the consensus estimate of $71.66 million.

"We entered the first quarter targeting a clear set of key initiatives, namely to: complete our debt refinancing; expand our sales force; and realign our operations along formalized INAP COLO and INAP CLOUD pure-play segments. We ended the quarter ahead of schedule on many fronts, and are now tackling Phase 2 and 3 of our cost savings and margin expansion projects, particularly in our partnered sites and in network services. We are very confident we can successfully improve INAP operations, and are increasing our profitability and Adjusted EBITDA outlook to reflect our early experience and expectations for 2017. Ultimately, all of this work in establishing a new baseline is designed to position the company to participate in strategic transactions down the road to strengthen our portfolio in the growing Internet Infrastructure industry. We are very excited about our prospects for profitable growth."

GUIDANCE:

Internap Network Services sees FY2017 revenue of $275-285 million, versus the consensus of $281.91 million.

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

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