Cbeyond and Numerex report 3Q results
by MDJ Staff
November 09, 2013 11:57 PM | 854 views | 0 0 comments | 34 34 recommendations | email to a friend | print
Local companies Cbeyond Inc., at 320 Interstate North Parkway Southeast in the Cumberland area, and Numerex Corp., 3330 Cumberland Blvd. Southeast in the Cumberland area, recently announced their third quarter financial results.

Cbeyond

Cbeyond announced Wednesday its results for the third quarter that ended Sept. 30.

Financial and operating highlights include:

Third quarter 2013 total revenue was $113.7 million, compared with $121.5 million in the third quarter of 2012 and $118.2 million in the second quarter of 2013.

Cbeyond 2.0 revenue was $17.8 million, or 15.7 percent of total revenue in the third quarter of 2013, an increase of 87 percent from the third quarter of 2012 and an increase of 11 percent from the second quarter of 2013.

An average monthly revenue per customer was $653 during the third quarter of 2013, compared with $640 in the third quarter of 2012 and $662 in the second quarter of 2013.

Adjusted EBITDA was $18 million in the third quarter of 2013, compared with $25.2 million in the third quarter of 2012 and $21.9 million in the second quarter of 2013.

Free cash flow, defined as adjusted EBITDA less cash capital expenditures, was $3.2 million in the third quarter of 2013, compared with $7.7 million in the third quarter of 2012 and $7.1 million in the second quarter of 2013.

Net loss was $5.3 million in the third quarter of 2013, which includes a $2 million charge to depreciation related to certain fiber assets, compared with net income of $2 million in the third quarter of 2012 and a net loss of less than $100,000 in the second quarter of 2013.

Cbeyond Inc., a cloud and communications services provider, provides technology services for small and mid-sized businesses.

Numerex

Numerex Corp announced Thursday financial results for its third quarter that ended Sept. 30.

Financial highlights included:

Total net sales were $22 million, which was up 28 percent compared to the third quarter of 2012.

Subscription-based recurring revenue increased 24 percent year-over-year. Total subscriptions were up 31 percent to 2.3 million compared to 2012. Subscription and support revenue of $13.5 million was up 22 percent, compared to third quarter of 2012. Recurring revenue generated by subscriptions was up 24 percent compared to third quarter 2012.

There were 135,000 net new subscriptions added during the third quarter, bringing the cumulative base at the end of the quarter to 2.31 million, which was up from the 1.76 million reported at the end of the third quarter 2012.

GAAP net income and GAAP income from continuing operations, net of income tax benefit, for the quarter were both $600,000 or three-cents per diluted share.

Adjusted EBITDA margin (non-GAAP) was 11.5 percent for the third quarter, which was up substantially from 8.9 percent for the first half of the year and 9.9 percent for the nine month period ending Sept. 30.

Adjusted EBITDA (non-GAAP) was $2.5 million or 13 cents per diluted share, compared to $2.2 million or 14 cents per diluted share, for the same period 2012.

Total revenue for the third quarter was $22 million, up 28 percent compared to the third quarter of 2012.

Embedded devices and hardware revenue for the third quarter was $8.5 million, up 39 percent over the third quarter 2012.

Net cash generated by operating activities of continuing operations was $3.3 million year-to-date.

Numerex Corp is a provider of interactive and on-demand machine-to-machine enterprise services.

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