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Neustar Reports Revenue Growth of 16% for Second Quarter 2011

STERLING, Va. July 27, 2011 June 30, 2011

http://photos.prnewswire.com/prnh/20090722/NSLOGO

Summary of Consolidated Second Quarter Results Compared to Second Quarter of 2010

– Revenue increased 16% to $147.7 million

– Net income increased 13% to $32.4 million; net income would have increased 18% excluding the impact of a $1.8 million credit to sales tax and interest expense in the second quarter of 2010

Income from continuing operations increased 3% to $33.6 million; income from continuing operations would have increased 7% excluding the impact of a $1.8 million credit to sales tax and interest expense in the second quarter of 2010

– Earnings per diluted share increased 16% to $0.43; earnings per diluted share would have increased 19% excluding the impact of a $1.8 million credit to sales tax and interest expense in the second quarter of 2010

Earnings from continuing operations per diluted share increased 7% to $0.45; earnings from continuing operations per diluted share would have increased 10% excluding the impact of a $1.8 million credit to sales tax and interest expense in the second quarter of 2010

– EBITDA from continuing operations increased 6% to $64.6 million, representing a 44% margin; EBITDA from continuing operations would have increased 7% excluding the impact of a $1.8 million credit to sales tax and interest expense in the second quarter of 2010

Lisa Hook

Paul Lalljie

Discussion of Second Quarter Results

$147.7 million $127.7 million

  • $110.8 million $97.8 million $7.9 million $10.9 million $3.2 million $4.3 million
  • $36.8 million $30.0 million $4.5 million $2.3 million

$92.4 million $74.4 million $18.0 million

June 30, 2011 $42.7 million

$432.1 million June 30, 2011 $392.2 million March 31, 2011 $382.4 million December 31, 2010 $25.97 $18.2 million

Business Outlook for 2011

  • $585 million to $600 million
  • $250 million to $260 million
  • $127 million to $133 million $1.68 and $1.76

$5 million

Reconciliation of Non-GAAP Financial Measures

June 30, 2010 December 31, 2010 December 31, 2011

The reconciliation allows investors to appropriately consider each non-GAAP financial measure.  These non-GAAP financial measures, however, should not be considered a substitute for or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated.  Management believes that these measures enhance investors’ understanding of the Company’s financial performance and the comparability of the Company’s operating results to prior periods, as well as against the performance of other companies.  However, these non-GAAP financial measures may not be comparable with similar non-GAAP financial measures used by other companies and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.  Prior disclosures of non-GAAP figures do not exclude the same items and as such should not be used for comparison purposes.  

Reconciliation to EBITDA from continuing operations

Three Months Ended June 30,

Six Months Ended June 30,

Year Ended December 31,

Year Ending December 31,

2010

2011

2010

2011

2010 (1)

2011 (2)

(in thousands, except per share data)
(unaudited)

Revenue

$

127,731

$

147,683

$

254,566

$

293,778

$

520,866

$

592,500

Income from continuing operations

$

32,527

$

33,616

$

60,850

$

67,081

$

124,028

130,000

Add: Depreciation and amortization

7,769

9,386

15,570

18,532

32,861

39,000

Less: Other expense (income)

(1,018)

(804)

(871)

(660)

(587)

(600)

Add: Provision for income taxes, continuing operations

21,798

22,423

40,295

45,129

82,282

86,600

EBITDA from continuing operations

$

61,076

$

64,621

$

115,844

$

130,082

$

238,584

(4)

$

255,000

EBITDA from continuing operations per diluted share

$

0.80

$

0.86

$

1.52

$

1.73

$

3.14

$

3.38

EBITDA margin (5)

48%

44%

46%

44%

46%

43%

Weighted average diluted common shares outstanding

76,217

75,015

76,079

75,129

76,065

75,500

(1) The amounts expressed in this column are derived from the Company’s audited consolidated financial statements for th e year ended December 31, 2010

(2) The amounts expressed in this column are based on current estimates as of the date of this press release of results for the full year.  This reconciliation is based on the midpoint of the revenue guidance

(3) Reflects the reclassification of the Company’s Converged Messaging Services business to discontinued operations for all periods presented

(4) Includes management transition costs of $6.0 million for restructuring and severance costs

(5) EBITDA margin is a measure of EBITDA from continuing operations as a percentage of total revenue

Conference Call

July 15, 2011 4:30 p.m. (Eastern Time) www.neustar.biz

Wednesday, August 3, 2011 www.neustar.biz

Neustar will take live questions from securities analysts and institutional portfolio managers; the complete call is open to all other interested parties on a listen-only basis.

This press release, the financial tables and other supplemental information, including a reconciliation of segment contribution to the nearest comparable GAAP measure and reconciliations of certain other non-GAAP measures to their nearest comparable GAAP measures that may be used periodically by management when discussing the Company’s financial results with investors and analysts, are available on the Company’s website under the Investor Relations tab.

About Neustar, Inc.

www.neustar.biz

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

March 31, 2011

NEUSTAR, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

Three Months Ended

Six Months Ended

June 30,

June 30,

2010 

2011 

2010 

2011 

(unaudited)

Revenue:  

Carrier Services

$

97,760

$

110,834

$

195,392

$

220,449

Enterprise Services

29,971

36,849

59,174

73,329

Total revenue  

127,731

147,683

254,566

293,778

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