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Conference Call Details |
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| Participant Dial-In Numbers: | ||||
| Domestic callers: | (866) 604-1698 | |||
| International callers: | (201) 389-0844 | |||
Access by Webcast
The call will also be simultaneously webcast over the
Updated FY 2017 Guidance
For FY 2017, the Company is narrowing its range of revenue guidance to between
The Company also reiterates its previously announced FY 2016 financial guidance. Revenues are expected to be in excess of
The Company will provide greater detail on this guidance in its quarterly conference call.
The estimated full year 2016 results above and in the reconciliation table below are preliminary and unaudited. They are subject to the completion and finalization of fourth-quarter and year-end financial and accounting procedures, and reflect management’s estimate based solely upon information available to management as of the date of this press release. Further information learned during that completion and finalization may alter the final results. In addition, the preliminary estimates should not be viewed as a substitute for full year financial statements prepared in accordance with generally accepted accounting principles in
With respect to expected 2017 Adjusted EBITDA, a quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to adjustments that could be made with respect to taxes, transaction costs, stock-based compensation and other items which are excluded from Adjusted EBITDA. These items could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.
*Adjusted EBITDA
Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net income plus depreciation and amortization expense, interest expense, taxes, and non-operating expenses such as management and consulting fees, loss from extinguishment of debt and expenses associated with our 2016 business combination transaction. We believe that Adjusted EBITDA is meaningful to our investors to enhance their understanding of our financial performance for the current period exclusive of expenses that will not reoccur. We understand that Adjusted EBITDA is frequently used by securities analysts, investors and other interested parties as a measure of financial performance and to compare our performance with the performance of other companies that report Adjusted EBITDA. Our calculation of Adjusted EBITDA, however, may not be comparable to similarly titled measures reported by other companies. When assessing our operating performance, investors and others should not consider this data in isolation or as a substitute for net income calculated in accordance with GAAP. Further, the results presented by Adjusted EBITDA cannot be achieved without incurring the costs that the measure excludes below.
Reconciliation of Estimated Adjusted EBITDA to Estimated Net Income
| (in thousands) | Year Ended |
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( |
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| Estimated Adjustments: | |||||
| Interest Expense | $ | 3,694 | |||
| Depreciation and Amortization | $ | 7,445 | |||
| Taxes and Other | $ | 380 | |||
| Loss from early extinguishment of debt | $ | 2,172 | |||
| Management Fees | $ | 671 | |||
| Business Combination Expenses | $ | 2,100 | |||
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About
Founded in 1901,
Forward-Looking Statements
We make forward-looking statements in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts for future events, including, without limitation, the timing for filing our Annual Report on Form 10-K for 2016 (“2016 Form 10-K”), the impact of any corrections required to be made to our historical financial statements, our estimated full-year 2016 and FY 2017 expected revenue and Adjusted EBITDA and our results of operations and financial condition. These statements may be preceded by, followed by or include the words “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or similar expressions. These forward-looking statements are based on information available to us as of the date they were made, and involve a number of risks and uncertainties which may cause them to turn out to be wrong. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. In addition, there can be no assurance that we will be able to file our 2016 Form 10-K within the fifteen calendar day extension provided by Rule 12b-25, that we will not identify one or more material weaknesses in internal control over financial reporting (other than those previously disclosed or disclosed in the Form 12b-25), or that we will not need to restate our financial statements for one or more prior periods. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Please refer to our most recent quarterly reports filed on Form 10-Q and our registration statement on Form S-1 filed on
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Investor Relations:
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