Exhibit 99.1
Premiere Global Services Reports 2005
Results: Revenues $497.5M up 11%; Normalized Operating Income $80.6M
up 13%; $117.2M in Revenues and $0.13 Normalized Diluted EPS from
Continuing Operations in Q4
ATLANTA--(BUSINESS WIRE)--Feb. 16, 2006--Premiere Global Services,
Inc. (NYSE: PGI), a global outsource provider of business process
solutions, today announced results for the fourth quarter and fiscal
year ended December 31, 2005. Revenues in the fourth quarter of 2005
were $117.2 million, flat compared to $117.3 million in the fourth
quarter of 2004. Excluding a $2.0 million pre-tax legal settlement and
a nominal restructuring costs adjustment, normalized operating income
totaled $14.5 million.(a) In the fourth quarter of 2005, excluding
charges for legal settlements, restructuring and one-time tax
adjustments, normalized income from continuing operations totaled $9.1
million and normalized diluted EPS from continuing operations was
$0.13.(a) Over the same period in accordance with GAAP, operating
income totaled $12.5 million, income from continuing operations
totaled $12.5 million and diluted EPS from continuing operations
totaled $0.17.
In the fourth quarter of 2004, normalized operating income totaled
$19.2 million and, excluding a gain on prepayment of a note
receivable, normalized income from continuing operations totaled $11.9
million and normalized diluted EPS from continuing operations was
$0.17.(a) Over the same period in accordance with GAAP, operating
income totaled $19.2 million, income from continuing operations
totaled $17.1 million and diluted EPS from continuing operations
totaled $0.24.
Fourth Quarter 2005 Revenue Detail
Conferencing & Collaboration revenue totaled $61.2 million, up
13.2% from $54.0 million in the comparable prior year quarter. As
expected, revenue from the Company's largest customer declined by $8.3
million, totaling $2.7 million versus $11.0 million in the fourth
quarter of 2004. Excluding revenue contribution from this customer in
both quarters, Conferencing & Collaboration revenue increased 35.8% in
the fourth quarter of 2005 versus the fourth quarter of 2004.(a)
Data Communications revenue totaled $56.0 million, down 11.5% from
$63.2 million in the comparable prior year quarter. Revenue from
legacy broadcast fax services declined $7.2 million dollars, totaling
$24.6 million versus $31.8 million in the fourth quarter of 2004.
Excluding revenue contribution from legacy broadcast fax services in
both quarters, Data Communications revenue remained flat in the fourth
quarter of 2005 versus the fourth quarter of 2004.(a)
2005 Results
Revenues in 2005 totaled $497.5 million, up 10.7% from $449.4
million in 2004. Excluding pre-tax restructuring charges of $3.3
million and legal settlements of $2.0 million, normalized operating
income totaled $80.6 million.(a) In 2005, excluding charges for legal
settlements, restructuring and one-time tax adjustments, normalized
income from continuing operations totaled $48.2 million and normalized
diluted EPS from continuing operations totaled $0.67.(a) In accordance
with GAAP, operating income totaled $75.3 million, income from
continuing operations totaled $48.7 million and diluted EPS from
continuing operations totaled $0.67.
In 2004, normalized operating income was $71.4 million, normalized
income from continuing operations was $43.9 million and normalized
diluted EPS from continuing operations was $0.61.(a) In 2004 in
accordance with GAAP, operating income was $71.4 million, income from
continuing operations was $40.7 million and diluted EPS from
continuing operations was $0.58.
2005 Accomplishments
-- Increased Conferencing & Collaboration revenue for the year by
44.0% from 2004, excluding revenue contribution from its
largest customer in both periods (a)
-- Unified our brands under one name, Premiere Global Services,
and transferred the listing of our shares to the New York
Stock Exchange
-- Improved our focus and go to market strategy by segmenting our
sales and marketing efforts into four core business practices:
Conferencing Solutions, Document Solutions, Alerts &
Notifications Solutions and Marketing Automation Solutions
-- Grew cash flows from operating activities by nearly 10%,
despite becoming a federal tax payer during the year
-- Repurchased 2.1 million shares of common stock in the open
market
-- Further consolidated our industries with the acquisitions of
Netspoke and the conferencing services division of Citizens
Communications
"I am excited about our success last year in raising Premiere
Global's profile in the market and increasing our value to our
customers by transitioning to a solutions-based sales model,
delivering innovative communication technologies that simplify our
customers' critical business processes," said Boland T. Jones,
Founder, Chairman and CEO of Premiere Global Services, Inc. "By
focusing our resources in four core business practices based on how
our customers buy solutions from us, I believe we can better replicate
at Data Communications the success we have achieved at Conferencing &
Collaboration, where our investment in international expansion,
product innovation and accretive acquisitions has positioned this unit
as an industry leader with the global scale necessary to continue to
increase its market share.
We established business objectives for 2006 that I believe will
help us build upon the momentum we are experiencing in core services.
Our focus in the year ahead will be to continue to innovate new
solutions and to improve our customer experience with the development
of a customer-centric portal that will provide direct access to our
platform and suite of services directly from the desktop. We also look
to improve the effectiveness of our global selling efforts with lead
generation and appointment setting, as well as marketing initiatives
to increase our brand awareness. Finally, we plan to attack the
exploding wireless marketplace with innovative products that increase
the productivity of mobile professionals.
We also made the decision at the end of last year to stop reacting
to the declines in our legacy broadcast fax business and to
proactively manage it to a level where it becomes a smaller, but more
consistent contributor to our overall business. To that end, this
January we began an aggressive campaign to migrate our broadcast fax
customers to email, or other new technologies, or into long-term
contractual pricing plans that include minimum monthly commitments.
These actions are expected to reduce near-term revenues and earnings,
as the market price for email services is substantially below that of
fax services, and we are extending price incentives to accelerate
customer adoption of long-term contractual pricing plans. However, we
are convinced that our success in these actions will make us a much
stronger company in the long run.
As we execute against our plan to change the shape of our
business, we are committed to producing strong cash flows, and we plan
to reinvest these cash flows and our available liquidity to retire
shares of our stock and to reinvest for growth by further
consolidating the industries in which we compete. We believe Premiere
Global Services is uniquely positioned as the only provider of
end-to-end communication technologies solutions to global enterprise
customers. We believe the strength of our core solutions, coupled with
continuous innovation, will deliver consistent, organic growth and
increase value for our customers, associates and shareholders."
Financial Outlook
The following statements are based on Premiere Global Services'
current expectations as of February 16, 2005. These statements are
forward-looking statements and actual results may differ materially.
The Company assumes no duty to update any forward-looking statements
made in this press release. A discussion concerning forward-looking
statements is included at the end of this press release and in the
Company's filings with the Securities and Exchange Commission.
Premiere Global's Conferencing & Collaboration business unit is
currently performing better than expected. However, because of
Management's initiatives with regard to its legacy broadcast fax
business as described above and potentially longer sales cycles in the
Company's new solutions sales relative to its previous business model,
the Company anticipates revenues in 2006 will be at the low end of its
previous guidance of $480 to $500 million and GAAP diluted EPS from
continuing operations will be in the range of $0.50 to $0.58.
The Company anticipates cash flows from operating activities from
continuing operations will be in the range of $83 to $90 million in
2006. This estimate does not include potential restructuring charges
that may result from contemplated initiatives to bring costs in the
Company's legacy broadcast fax business in-line with lower revenue
expectations from this business. Excluding equity based compensation
and amortization, pro forma diluted EPS from continuing operations in
2006 is expected to be in the range of $0.70 to $0.78.(a)
(a) To supplement the Company's consolidated financial statements
presented in accordance with GAAP, we have included the following
non-GAAP measures of financial performance: normalized operating
income, normalized income from continuing operations, normalized
diluted EPS from continuing operations and pro forma diluted EPS from
continuing operations. Management uses these measures internally as a
means of analyzing the Company's current and future financial
performance and identifying trends in our financial condition and
results of operations. We have provided this information to investors
to assist in meaningful comparisons of past, present and future
operating results and to assist in highlighting the results of ongoing
core operations. In addition, we present certain business segment
revenue growth statistics that are derived from non-GAAP financial
measures. Please see the table attached for calculation of these
non-GAAP financial measures and for reconciliation to the most
directly comparable GAAP measures. These non-GAAP financial measures
may differ materially from comparable or similarly titled measures
provided by other companies and should be considered in addition to,
not as a substitute for or superior to, measures of financial
performance prepared in accordance with GAAP.
Conference Call
The Company will hold a conference call at 5:00 p.m. Eastern this
afternoon to discuss these results. To participate in the call, please
dial-in to the appropriate number 5-10 minutes prior to the scheduled
start time: (800) 289-0572 (US & Canada) or (913) 981-5543
(International). The conference call will be simultaneously broadcast
over the Internet via SoundCast(R), a Premiere Global service, and can
be accessed at http://ir.premiereglobal.com. You may also follow this
link for details on the Internet replay, podcast and for the text of
the earnings release, including the financial and statistical
information to be presented in the call.
A replay will be available following the call at 8:00 p.m. Eastern
through midnight Eastern February 24, 2006, and can be accessed by
calling (888) 203-1112 (US & Canada) or (719) 457-0820
(International). The confirmation code is 7181245. The Webcast of this
call will be archived on the Company's Website at
http://ir.premiereglobal.com.
About Premiere Global Services, Inc.
Premiere Global Services, Inc. is a global outsource provider of
business process solutions that enable enterprise customers to
automate and simplify their critical business processes and to
communicate more effectively with their constituents. We innovate
communication technologies and deliver solutions in four core business
practices: Conferencing Solutions, Document Solutions, Marketing
Automation Solutions and Alerts & Notifications Solutions. We deliver
these solutions via our global, on-demand platforms to an established
customer base of greater than 60,000 corporate accounts, including a
majority of the Fortune 500. Customers apply our solutions in order to
increase efficiency, to improve productivity and to raise customer
satisfaction levels.
With global presence in 19 countries, Premiere Global Services'
corporate headquarters is located at 3399 Peachtree Road NE, Suite
700, Atlanta, GA 30326. Additional information can be found at
www.premiereglobal.com.
Statements made in this press release, other than those concerning
historical information, should be considered forward-looking and
subject to various risks and uncertainties. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and are made based on
management's current expectations or beliefs as well as assumptions
made by, and information currently available to, management. A variety
of factors could cause actual results to differ materially from those
anticipated in Premiere Global Services' forward-looking statements,
including, but not limited to, the following factors: competitive
pressures, including pricing pressures; technological change; the
development of alternatives to our services; market acceptance of our
new services and enhancements; integration of acquired companies;
service interruptions; increased financial leverage; our dependence on
our subsidiaries for cash flow; continued weakness in our legacy
broadcast fax business; foreign currency exchange rates; possible
adverse results of pending or future litigation or infringement
claims; federal or state legislative or regulatory changes; general
domestic and international economic, business or political conditions;
and other factors described from time to time in our press releases,
reports and other filings with the SEC, including but not limited the
"Risk Factors Affecting Future Performance" section of our Annual
Report on Form 10-K for the year ended December 31, 2004. All
forward-looking statements attributable to us or a person acting on
our behalf are expressly qualified in their entirety by this
cautionary statement.
PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2005 AND 2004
(IN THOUSANDS, UNAUDITED, EXCEPT PER SHARE DATA)
Three Months Twelve Months
Ended Ended
December 31, December 31,
2005 2004 2005 2004
-------- -------- -------- --------
REVENUES $117,207 $117,266 $497,473 $449,371
OPERATING EXPENSES:
Cost of revenues (exclusive of
depreciation shown separately
below) 44,260 40,558 180,720 160,690
Selling and marketing 30,605 30,619 127,610 117,711
General and administrative
(exclusive of net legal
settlements shown separately
below) 12,781 13,230 52,377 50,082
Research and development 2,963 2,816 10,699 10,970
Depreciation 6,433 7,070 24,757 26,372
Amortization 3,228 2,660 13,243 8,891
Restructuring costs (29) - 3,256 -
Equity based compensation 2,391 1,078 7,484 3,261
Net legal settlements and related
expenses 2,048 - 2,048 -
-------- -------- -------- --------
Total operating expenses 104,680 98,031 422,194 377,977
-------- -------- -------- --------
OPERATING INCOME 12,527 19,235 75,279 71,394
-------- -------- -------- --------
OTHER INCOME (EXPENSE):
Interest expense (1,625) (810) (5,552) (4,687)
Interest income 101 149 582 633
Debt conversion costs - - - (17,027)
Loss on sale of marketable
securities - 71 (116) (16)
Gain on prepayment of note
receivable - 8,520 - 8,520
Other, net (23) 606 103 2,433
-------- -------- -------- --------
Total other income (expense) (1,547) 8,536 (4,983) (10,144)
-------- -------- -------- --------
INCOME FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES 10,980 27,771 70,296 61,250
INCOME TAX (BENEFIT) EXPENSE (1,565) 10,654 21,610 20,565
-------- -------- -------- --------
INCOME FROM CONTINUING OPERATIONS $ 12,545 $ 17,117 $ 48,686 $ 40,685
======== ======== ======== ========
DISCONTINUED OPERATIONS:
(Loss) gain from operations of
Voicecom - - (1,952) 1,956
Income tax (benefit) expense - - (683) 761
-------- -------- -------- --------
(Loss) gain on discontinued
operations - - (1,269) 1,195
-------- -------- -------- --------
NET INCOME $ 12,545 $ 17,117 $ 47,417 $ 41,880
======== ======== ======== ========
BASIC EARNINGS PER SHARE:
Income from continuing operations $ 12,545 $ 17,117 $ 48,686 $ 40,685
-------- -------- -------- --------
Net Income $ 12,545 $ 17,117 $ 47,417 $ 41,880
-------- -------- -------- --------
BASIC WEIGHTED AVERAGE SHARES
OUTSTANDING: 70,241 69,759 70,392 64,086
======== ======== ======== ========
Basic earnings per share:
Continuing operations $ 0.18 $ 0.25 $ 0.69 $ 0.63
Discontinued operations $ 0.00 $ 0.00 $ (0.02)$ 0.02
-------- -------- -------- --------
Net Income $ 0.18 $ 0.25 $ 0.67 $ 0.65
======== ======== ======== ========
DILUTED EARNINGS PER SHARE:
Income from continuing operations
for purposes of computing diluted
net income per share $ 12,545 $ 17,117 $ 48,686 $ 42,071
-------- -------- -------- --------
Net Income for purposes of
computing diluted net income per
share $ 12,545 $ 17,117 $ 47,417 $ 43,266
-------- -------- -------- --------
DILUTED WEIGHTED AVERAGE SHARES
OUTSTANDING: 71,948 72,097 72,366 72,280
======== ======== ======== ========
Diluted earnings per share:
Continuing operations $ 0.17 $ 0.24 $ 0.67 $ 0.58
Discontinued operations $ 0.00 $ 0.00 $ (0.01)$ 0.02
-------- -------- -------- --------
Net Income $ 0.17 $ 0.24 $ 0.66 $ 0.60
======== ======== ======== ========
PREMIERE GLOBAL SERVICES, INC AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2005 AND 2004
(IN THOUSANDS, EXCEPT SHARE DATA)
December 31, December 31,
2005 2004
------------ ------------
ASSETS
CURRENT ASSETS
Cash and equivalents $ 20,508 $ 25,882
Marketable securities, available for sale - 576
Accounts receivable (less allowances of
$7,560 and $5,706, respectively) 79,417 72,055
Prepaid expenses and other 5,209 5,148
Deferred income taxes, net 12,392 17,706
--------- ---------
Total current assets 117,526 121,367
PROPERTY AND EQUIPMENT, NET 75,742 74,050
OTHER ASSETS
Goodwill 257,565 192,147
Intangibles, net 39,662 40,590
Deferred income taxes, net 837 3,461
Other assets 3,958 3,861
--------- ---------
$ 495,290 $ 435,476
========= =========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 37,745 $ 37,337
Income taxes payable 4,394 8,968
Accrued taxes 6,148 6,700
Accrued expenses 34,439 40,192
Current maturities of long-term debt and
capital lease obligations 799 37
Accrued restructuring costs 1,800 1,071
--------- ---------
Total current liabilities 85,325 94,305
LONG-TERM LIABILITIES
Long-term debt and capital lease obligations 99,675 68,147
Other accrued expenses 6,540 6,094
--------- ---------
Total long-term liabilities 106,215 74,241
SHAREHOLDERS' EQUITY
Common stock $0.01 par value; 150,000,000
shares authorized,
71,703,933 and 71,301,577 shares issued
and outstanding at
December 31, 2005 and 2004, respectively 717 713
Unrealized loss on marketable securities - 6
Additional paid-in capital 694,304 694,284
Unearned restricted stock compensation (12,585) (4,187)
Note receivable, shareholder (1,896) (5,662)
Cumulative translation adjustment (3,554) 2,429
Accumulated deficit (373,236) (420,653)
--------- ---------
Total shareholders' equity 303,750 266,930
--------- ---------
$ 495,290 $ 435,476
========= =========
PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
TWELVE MONTHS ENDED DECEMBER 31, 2005 AND 2004
(IN THOUSANDS, UNAUDITED)
2005 2004
--------- ---------
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 47,417 $ 41,880
Adjustments to reconcile net income to net cash provided by
operating activities:
Loss (gain) on discontinued operation 1,269 (1,195)
Debt conversion costs - 17,027
Depreciation 24,757 26,372
Amortization 13,243 8,891
Amortization of deferred financing costs 453 659
Loss on sale of marketable securities, available
for sale 116 16
Deferred income taxes 8,746 10,095
Gain on disposal of assets (45) 118
Gain on note receivable and other liabilities - (10,968)
Net legal settlements and related expenses 2,048 -
Restructuring costs 3,256 77
Payments for restructuring costs (3,210) (4,051)
Equity based compensation 7,484 3,568
Changes in assets and liabilities: - -
Accounts receivable, net (3,834) (1,761)
Prepaid expenses and other current assets 317 2,738
Accounts payable and accrued expenses (9,694) (8,890)
--------- ---------
Total adjustments 44,906 42,696
--------- ---------
Total cash provided by operating activities from
continuing operations 92,323 84,576
--------- ---------
Payments for discontinued operations (2,025) (2,081)
--------- ---------
Total cash provided by operating
activities 90,298 82,495
--------- ---------
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (28,174) (24,783)
Business acquisitions (79,915) (98,227)
Sale of marketable securities 755 1,835
Purchase of marketable securities (306) (1,663)
Proceeds from note receivable - 11,720
--------- ---------
Net cash used in investing activities (107,640) (111,118)
--------- ---------
CASH FLOWS FROM FINANCING ACTIVITIES
Principal proceeds under borrowing arrangements 104,100 62,993
Principal payments under borrowing arrangements (74,676) (15,000)
Payments received on shareholder note 3,953 -
Make whole interest payment - convertible notes - (16,255)
Purchase of treasury stock, at cost (26,192) (12,811)
Exercise of stock options 8,521 11,554
--------- ---------
Total cash provided by financing
activities 15,706 30,481
--------- ---------
Effect of exchange rate changes on cash and
equivalents (3,738) 78
--------- ---------
NET (DECREASE) INCREASE IN CASH AND EQUIVALENTS (5,374) 1,936
--------- ---------
CASH AND EQUIVALENTS, beginning of period $ 25,882 $ 23,946
--------- ---------
CASH AND EQUIVALENTS, end of period $ 20,508 $ 25,882
========= =========
PREMIERE GLOBAL SERVICES, INC AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(IN THOUSANDS, EXCEPT SHARE DATA, UNAUDITED)
Three Months Ended Twelve Months Ended
December 31, December 31,
2005 2004 2005 2004
-------- -------- -------- --------
Normalized Operating Income (1)
Operating income, as reported $ 12,527 $ 19,235 $ 75,279 $ 71,394
Net legal settlements and
related expenses 2,048 - 2,048 -
Restructuring costs (29) - 3,256 -
-------- -------- -------- --------
Normalized operating income $ 14,546 $ 19,235 $ 80,583 $ 71,394
-------- -------- -------- --------
Normalized Income from Continuing
Operations (1)
Income from continuing
operations for purposes of
computing diluted income per
share $ 12,545 $ 17,117 $ 48,686 $ 42,071
Elimination of one-time tax
adjustments (4,693) - (3,826) (3,086)
Net legal settlements and
related expenses 1,272 - 1,272
Restructuring costs (18) - 2,022 -
Elimination of gain on
prepayment of note receivable
(tax effected at 38.4%) (5,248) (5,248)
Elimination of discounted
early retirement of an
acquisition payable (tax
effected at 38.9%) - - - (260)
Debt conversion costs (tax
effected at 38.9%) - - - 10,403
-------- -------- -------- --------
Normalized income from
continuing operations $ 9,106 $ 11,869 $ 48,154 $ 43,880
-------- -------- -------- --------
Normalized Diluted EPS from
Continuing Operations (1)
Diluted EPS from continuing
operations $ 0.17 $ 0.24 $ 0.67 $ 0.58
Elimination of one-time tax
adjustments (0.06) - (0.05) (0.04)
Net legal settlements and
related expenses 0.02 - 0.02 -
Restructuring costs (0.00) - 0.03 -
Elimination of gain on
prepayment of note receivable
(tax effected at 38.4%) - (0.07) - (0.07)
Elimination of discounted
early retirement of an
acquisition payable (tax
effected at 38.9%) - - - (0.00)
Debt conversion costs (tax
effected at 38.9%) - - - 0.14
-------- -------- -------- --------
Normalized diluted EPS from
continuing operations $ 0.13 $ 0.17 $ 0.67 $ 0.61
Segment Revenues Excluding Certain
Items (2)
Revenues, as reported
Conferencing & Collaboration $ 61,233 $ 54,106
Data Communications 55,974 63,239
Eliminations - (79)
-------- --------
$117,207 $117,266
Conferencing & Collaboration $ 61,233 $ 54,106 $251,901 $202,776
Excluding largest customer
revenue 2,712 11,001 28,808 47,622
-------- -------- -------- --------
Conferencing & Collaboration
excluding largest customer
revenue $ 58,521 $ 43,105 $223,093 $155,155
-------- -------- -------- --------
Data Commincations $ 55,974 $ 63,239
Excluding broadcast fax
revenue 24,587 31,834
-------- --------
Data Communications excluding
legacy broadcast fax revenue $ 31,387 $ 31,405
-------- --------
(1) Management believes that normalized operating income, normalized
income from continuing operations and normalized diluted EPS from
continuing operations provide useful information regarding
underlying trends in our continuing operations by excluding non-
recurring items that are unrelated to our ongoing operations.
(2) The Company has previously announced Conferencing &
Collaboration's largest customer's intention to insource most of
its automated conferencing needs, as well as the acceleration in
the decline of revenues generated by Data Communications legacy
broadcast fax business in North America. The Company has presented
business segment revenue excluding these items because management
believes that that these events or trends particular to each
business segment may be deemed to be so significant to obscure
patterns and trends of our core business in total.
PREMIERE GLOBAL SERVICES, INC AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES IN FINANCIAL OUTLOOK
(amounts are estimates) (1)
(UNAUDITED)
Year ended
December 31,
2006
--------------
Projected pro forma diluted EPS from continuing
operations (2)
Projected diluted EPS from continuing operations $0.50 - $0.58
Excluding non-cash equity based compensation $0.09
Excluding amortization $0.11
--------------
Projected pro forma diluted EPS from
continuing operations $0.70 - $0.78
(1) The Company has made a number of assumptions in preparing our
projections, including assumptions as to the components of these
financial metrics. The following reconciliations of projected
non-GAAP financial measures include forward-looking information
with respect to the information identified as a projection. These
EPS projections assume a projected weighed average diluted share
count of approximately 71.9 million shares.
(2) The Company expects equity based compensation expense to be a
recurring cost and presents pro forma diluted EPS from continuing
operations to exclude this item and amortization expense to
eliminate these significant non-cash charges to earnings to help
investors better understand the operating performance of our
business.
CONTACT: Premiere Global Services, Inc.
Investor Calls
Sean O'Brien, 404-262-8462