InterCloud Systems (ICLD) Narrows Q4 Net Loss
InterCloud Systems (NASDAQ: ICLD) reported Q4 loss of about $0.81 per share, which may not compare with the analyst estimate of ($0.14). Revenue for the quarter came in at $23.8 million versus the consensus estimate of $24 million.
The Company had a net loss attributable to common stockholders of $(10.5) million in the fourth quarter of 2014 compared to a net loss of $(22.8) million for the comparable period of 2013. The decrease in net loss during the fourth quarter of 2014 compared to the comparable period of 2013 resulted from a change in the fair value of derivative instruments of $14.6 million and a decrease in the change in the fair value of contingent consideration of $5.7 million. During the fourth quarter of 2014 and 2013, the Company recognized a change in the fair value of derivative instruments of $0.8 million and $(13.7) million, respectively. Additionally, during the fourth quarter of 2014 and 2013, the Company recognized a change in the fair value of contingent consideration of $1.7 million and $(3.9) million, respectively.
These decreases were offset by increases in salaries and wages during the fourth quarter of 2014 of $3.6 million resulting from an increase in personnel as the Company implements its aggressive cloud centered growth strategy. SG&A expense includes non-cash stock compensation expense of $2.4 million for the fourth quarter of 2014 compared to $2.4 million for the fourth quarter of 2013.
For earnings history and earnings-related data on InterCloud Systems (ICLD) click here.
