Internap Corporation (INAP) Misses Q1 EPS by 40c, Revenues Miss; Offers FY19 Revenue Mid-Point Guidance Above Consensus

Internap Corporation (NASDAQ: INAP) reported Q1 EPS of ($0.83), $0.40 worse than the analyst estimate of ($0.43). Revenue for the quarter came in at $73.56 million versus the consensus estimate of $77.04 million.

“We have significant opportunities ahead to grow INAP and gain scale with our reconstructed portfolio. Year-over-year, management exited non-core data centers, and added a premier managed services platform through SingleHop to create a new baseline by the end of the first quarter of 2019. This portfolio right-sizing is now completed and establishes a new and improved INAP platform of colo, cloud and network services,” said Peter D. Aquino, President and Chief Executive Officer. “In addition, we are pleased to report the completed amendment to INAP’s credit facility as a follow-on to our recent equity raise. This operational flexibility positions the INAP platform for growth, partnerships and potential mergers. As we evaluate the opportunities to create shareholder value, we have retained Moelis & Company LLC and LionTree Advisors LLC as Financial Advisors.”

GUIDANCE:

Internap Corporation sees FY2019 revenue of $320-330 million, versus the consensus of $320.74 million.

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

You May Also Be Interested In

• Ondas Holdings Inc. (ONDS) Misses Q2 EPS by 9c
• Mount Logan unit launches MYGA annuity products, gets B+ AM Best rating
• Studio City International Holdings Limited (MSC) Reports Q2 Loss of $0.02