Impressive Results From Inteliquent Inc (NASDAQ:IQNT)
Inteliquent Inc (NASDAQ:IQNT), the mid capped wireless communications provider saw its market valuation vault upwards on the back of blockbuster fourth quarter and full year results which it reported yesterday before markets opened. The firm’s revenue for the fourth quarter came in at $50.2 million which was slightly above the $49.5 million it had reported in 4Q12. Net income for the fourth quarter came in at $8.8 million, which was well above the huge $85 million loss the firm had carried on to its books in 4Q12.
4Q and Full Year Highlights
The huge loss in 4Q12 was also related to the firm accounting for impairment charges to the tune of $85.8 million. Earnings before tax was $18 million which was well above the $14.2 million it had recorded during 4Q12. Cash flow generated by this $450 million market capped firm in the fourth quarter was $15.4 million, which was almost 50 percent more than its 4Q12 cash flow. Another big highlight of the conference call was the stagnant billed minutes numbers. In 4Q the number of minutes billed came in at 30.4 billion, which was slightly less than 31.9 billion in 4Q12.
Strong 2014 Guidance
The firm hopes for bringing in revenue in the range of $200 to $210 million from its full year operations in 2014. Earnings before tax are expected to be in the range of $61 to $66 million, while its working expenditure is slated to come in at $11 million for the full year. Commenting about the successful end to the full year 2013 operations, Inteliquent Inc (NASDAQ:IQNT) Chief Executive Officer, Ed Evans has been quoted to have said that, “We are very pleased with our strong results for the fourth quarter. During the quarter, we continued to see growth from our sales pipeline and we continue to focus on cost management. The results of the fourth quarter reflect the improved operating performance of our voice business.”