Click here to close now.

Welcome!

Web 2.0 Authors: Plutora Blog, Cloud Best Practices Network, Carmen Gonzalez, Trevor Parsons, Lori MacVittie

News Feed Item

Interactive Data Reports Second Quarter 2014 Results

NEW YORK, NY -- (Marketwired) -- 07/24/14 -- Interactive Data Corporation today reported its financial results for the second quarter ended June 30, 2014. Interactive Data's second quarter 2014 revenue was $232.1 million, a 3.1% increase from $225.1 million in the second quarter of 2013. Excluding the impact of changes in foreign exchange rates, Interactive Data's organic (non-GAAP) revenue for the second quarter of 2014 grew by 1.3% from the same quarter last year.

Interactive Data's second quarter 2014 income from operations was $27.9 million, compared with $49.6 million in the second quarter of 2013. Non-GAAP adjusted EBITDA (which excludes items that are either not part of the Company's ongoing core operations, or do not require a cash outlay, or are not otherwise expected to recur in the ordinary course) for the second quarter of 2014 was $86.9 million, compared with $88.3 million in the same period one year ago.

"Our second quarter results reflect our ability to navigate the relatively sluggish spending environment that has persisted into 2014," stated Stephen Daffron, Interactive Data's president and CEO. "We have continued to produce organic revenue growth due to the combination of modest growth in our Pricing and Reference Data segment in North America and solid expansion within our 7ticks trading infrastructure managed services area. Our adjusted EBITDA results reflect our efforts to remain vigilant in controlling costs while continuing to direct investment into the product development and technology infrastructure initiatives that we believe will help us accelerate our top-line and bottom-line expansion over the long term."

Segment Reporting and Related Operating Highlights

Pricing and Reference Data Segment:

  • Interactive Data's Pricing and Reference Data segment reported second-quarter 2014 revenue of $165.8 million, a 3.6% increase over $160.1 million in the second quarter of 2013. Excluding the impact of changes in foreign exchange rates, second quarter 2014 organic (non-GAAP) revenue for this segment increased by 2.2% from the same period last year. The segment's performance reflects growth in the Company's evaluated pricing and reference data services in North America, and, to a lesser extent, improved results in its BondEdge fixed income analytics product area. Key highlights during the second quarter of 2014 included Interactive Data's continued progress expanding its services in support of leading index providers such as Barclays Risk Analytics and Index Solutions and MSCI. In May, Interactive Data expanded its NY Close International Fixed Income Evaluation Services to include coverage of sovereign and corporate bonds issued in the Asia-Pacific region. In addition, BondEdge Solutions announced a new suite of equity analysis and reporting tools and also launched BondEdge Advance, a web-based solution that enables broker dealers and asset managers to easily and cost-effectively perform comprehensive fixed income analysis functions for their clients.

Trading Solutions Segment:

  • Interactive Data's Trading Solutions segment generated second quarter 2014 revenue of $66.3 million, an increase of 1.9% over $65.0 million in the same period one year ago. Excluding the impact of changes in foreign exchange rates, second quarter 2014 organic (non-GAAP) revenue for this segment declined 0.8% from the same period last year as growth in the 7ticks trading infrastructure managed services product area was more than offset by a modest decline in other key product areas. In May 2014, Interactive Data announced that Joachim Lauterbach, an experienced financial technology industry executive, was appointed as president and global head of its Managed Solutions business which develops, operates, and hosts customized financial portals and mobile solutions as well as desktop terminals designed for retail and private banks, investment companies, online brokers, exchanges, and media portals. Other recent highlights for the segment included continued enhancement of the Company's range of workstation platforms, including the launch of a new version of eSignal and a related alliance that allows eSignal users to directly access social media sentiment indicators from industry leaders such as Market Prophit.

Other Second Quarter 2014 Financial and Operating Highlights

Effects of Foreign Exchange:

  • The net effect of changes in foreign exchange rates increased second quarter 2014 income from operations by $0.6 million.

Refinancing Activity:

  • As previously announced, in early May Interactive Data entered into a new $2.1 billion senior secured credit facility, consisting of a five year $160 million Revolver (currently unfunded) and a seven year $1.9 billion Term Loan. Additionally, the Company completed the offering of $350 million in aggregate principal amount 5.875% Senior Notes due 2019. Net proceeds from these activities, along with approximately $94 million in cash, were used to refinance its $1.3 billion existing Term Loan, redeem Interactive Data's $700 million 10.25% Senior Notes due 2018, pay related fees and expenses, and fund a $273 million dividend payment to Igloo Holdings Corporation, its parent entity, which in turn paid a dividend to its equity holders.

    The Company is not reporting Pro Forma Adjusted EBITDA (also referred to as Covenant EBITDA) within this second quarter earnings release. The new senior secured credit facility contains a definition of Covenant EBITDA that differs from the definition of Covenant EBITDA in the previous senior secured credit facility. The Company is currently evaluating Covenant EBITDA under the new definition and will report on Covenant EBITDA in connection with its third quarter earnings release.

Balance Sheet Highlights:

  • As of June 30, 2014, Interactive Data had cash, cash equivalents and short-term investments of $254.8 million, compared with $326.9 million last quarter, $289.3 million at the same time last year and $360.2 million at the end of 2013. The Company's cash position reflected the aforementioned use of $94 million as part of the May 2014 financing activity. The Company's total debt outstanding as of June 30, 2014 was approximately $2.25 billion compared to approximately $2.0 billion as of the same time last year.

First Half 2014 Results

  • For the first six months ended June 30, 2014, Interactive Data reported revenue of $466.5 million, an increase of $17.9 million, or 4.0%, from $448.6 million in the same period last year. Excluding the effects of foreign exchange, organic revenue grew by 2.6% during the first half of 2014.

  • Interactive Data's first half 2014 income from operations was $68.8 million, compared with $93.0 million in the same period one year ago. For the first half of 2014, non-GAAP adjusted EBITDA (which excludes items that are not part of the Company's ongoing core operations, or do not require a cash outlay, or are not otherwise expected to recur in the ordinary course) was $168.6 million, compared with $171.4 million in the same period one year ago.

Conference Call Information

Interactive Data Corporation will host a conference call to discuss the Company's second quarter 2014 results on Friday, July 25, 2014 at 8:30 a.m. ET. The dial-in number for the conference call is (785) 424-1827 and the related access code is IDCQ214. For those who cannot listen to this broadcast, a replay of the call will be available from July 25 at 12:00 p.m. until Friday, August 1, 2014 at 12:00 p.m., and it can be accessed by dialing (402) 220-2672 or (800) 753-0348.

Non-GAAP Information

In addition to presenting our results in accordance with generally accepted accounting principles (GAAP) in this press release, we also disclose the following non-GAAP information:

  • Management includes information regarding organic revenue. Organic revenue excludes the impact of foreign exchange rate fluctuations, as well as, if applicable, adjustments related to the amortization of acquisition-related deferred revenue, and the contribution of businesses recently acquired (and related intercompany eliminations). Management believes reporting organic revenue is useful information for stakeholders as it facilitates a fuller understanding of period-to-period changes in revenue and underlying business trends.

  • Management includes organic revenue for our Pricing and Reference Data, and Trading Solutions segments because management believes this additional level of detail provides further insight into underlying performance trends.

  • Management includes information regarding earnings before interest, other income, income taxes, depreciation and amortization (EBITDA) and adjusted EBITDA. Adjusted EBITDA is defined as earnings before interest, other income, income taxes, depreciation and amortization, stock-based compensation expense, restructuring charges and benefits, adjustments related to the amortization of acquisition-related deferred revenue, and other non-cash, non-operational or non-recurring items, in each case as applicable for the underlying periods. Management considers these non-GAAP measures to be important indicators of the Company's operational profitability and cash generation strength. Management also believes these metrics provide transparency into and useful information regarding the Company's historical operating results because items that are either not part of the Company's ongoing core operating expenses, do not require a cash outlay, or are not otherwise expected to recur in the ordinary course of business are eliminated.

  • Management includes information regarding free cash flow, which we define as adjusted EBITDA less capital expenditures. Management considers free cash flow to be an important measure of the Company's cash generation strength that supports the Company's ability to repay its debt obligations and invest in future growth through new business development activities or acquisitions.

  • Management uses these non-GAAP financial measures, in addition to GAAP financial measures, as the basis for measuring the Company's core operating performance and comparing current period performance to that of prior periods, and to the performance of our competitors. Such measures are also used by management in their financial and operating decision-making, and for forecasting and planning purposes.

  • The non-GAAP financial measures of the Company's results of operations included in this press release should not be considered in isolation from comparable measures determined in accordance with GAAP. The non-GAAP financial measures should not be considered to be superior to or a substitute for the Company's results of operations prepared in accordance with GAAP. Reconciliations of such non-GAAP financial measures to the comparable GAAP financial measures are set forth in the accompanying tables. The non-GAAP measures presented may not be comparable to similarly titled measures reported by other companies.

Forward-looking and Cautionary Statements

This press release may contain forward-looking statements. Forward-looking statements include all statements that are not historical statements and include statements discussing the Company's goals, beliefs, strategies, objectives, plans, future financial conditions, future challenges and opportunities. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: (i) the implementation of strategies designed to improve revenue and profit growth; (ii) the impact of cost-cutting pressures across the industries the Company serves; (iii) general worldwide economic conditions and related uncertainties; (iv) consolidation of financial services companies, within and across industries; (v) a decline in activity levels in the securities markets, weak or declining financial performance of market participants or the failure of market participants; (vi) the intensity of competition the Company faces; (vii) a prolonged outage at one of the Company's data centers or other major disruptions of the Company's computer operations or those of the Company's suppliers, including outages or disruptions that result in the failure to timely deliver services or otherwise adversely impact the quality of the Company's services; (viii) the Company's ability to maintain relationships with its key suppliers and providers of market data; (ix) the Company's ability to maintain relationships with service bureaus and custodian banks; (x) the need to develop new products and services, and to adapt to legal, regulatory, technology or other changes or new competitive offerings; (xi) the Company's cost and operational optimization plans may not be effective or yield the expected efficiencies or may take longer than anticipated, including the Company's unified technology platform project; (xii) risks related to the Company's substantial leverage, including the Company's ability to raise additional capital to fund operations or react to changes in the economy or the Company's industry and market sectors, and the Company's exposure to interest rate risk on its variable rate debt (to the extent the risk is not mitigated by any interest rate hedge and cap arrangements that may be in place from time to time); (xiii) the Company is subject to regulatory oversight and it provides services to financial institutions who are subject to regulatory oversight, and enforcement actions by regulatory agencies can be time-consuming, costly and could harm our Company's reputation; (xiv) the Company's ability to maintain its registered investment adviser status; (xv) the risks of doing business internationally; (xvi) intellectual property related risks, including any allegations that the Company infringes the intellectual property rights of others; (xvii) the Company's ability to attract and retain qualified management and other key personnel; (xviii) the Company's ability to negotiate and enter into any strategic acquisitions or alliance on favorable terms, if at all; and (xix) the Company's ability to realize the anticipated benefits from any strategic acquisitions or alliances that it may be a party to. While the Company may elect to update forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, even if management estimates change and, therefore, you should not rely on these forward-looking statements as representing the Company's views as of any date subsequent to today.

About Interactive Data Corporation

Interactive Data Corporation is a trusted leader in financial information. Thousands of financial institutions and active traders, as well as hundreds of software and service providers, subscribe to our fixed income evaluations, reference data, real-time market data, trading infrastructure services, fixed income analytics, desktop solutions and web-based solutions. Interactive Data's offerings support clients around the world with mission-critical functions, including portfolio valuation, regulatory compliance, risk management, electronic trading and wealth management. Interactive Data has over 2,500 employees in offices worldwide.

For more information, please visit www.interactivedata.com.


               INTERACTIVE DATA CORPORATION AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                 Unaudited
                               (In thousands)


                                 Three Months Ended      Six Months Ended
                                      June 30,               June 30,
                                  2014       2013        2014       2013
                               ---------- ----------  ---------- ----------
REVENUE                        $  232,081 $  225,110  $  466,479 $  448,614

COSTS AND EXPENSES:
    Cost of services               81,141     72,903     165,646    146,793
    Selling, general and
     administrative                86,070     62,268     158,428    126,001
    Depreciation                   11,033     10,793      21,868     21,839
    Amortization                   25,918     29,546      51,721     60,976
                               ---------- ----------  ---------- ----------
  Total costs and expenses        204,162    175,510     397,663    355,609
                               ---------- ----------  ---------- ----------

INCOME FROM OPERATIONS             27,919     49,600      68,816     93,005

    Interest expense, net         (32,470)   (34,210)    (66,053)   (69,419)
    Other income, net                  14         14         654        347
    Loss on extinguishment of
     debt                         (82,060)         -     (82,060)   (10,213)
                               ---------- ----------  ---------- ----------

(LOSS) INCOME BEFORE INCOME
 TAXES                            (86,597)    15,404     (78,643)    13,720

    Income tax (benefit)
     expense                      (32,849)       369     (39,984)      (447)
                               ---------- ----------  ---------- ----------

NET (LOSS) INCOME              $  (53,748)$   15,035  $  (38,659)$   14,167
                               ========== ==========  ========== ==========


               INTERACTIVE DATA CORPORATION AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                                 Unaudited
                               (In thousands)


                                                   June 30,    December 31,
                                                     2014          2013
                                                 ------------  ------------
                     ASSETS                       (Unaudited)
Assets:
Cash and cash equivalents                        $    254,798  $    356,733
Short-term investments                                      -         3,445
Accounts receivable, net                              159,821       133,997
Prepaid expenses and other current assets              27,535        25,733
Income tax receivable                                       -         6,804
Deferred tax assets                                     4,522        10,711
                                                 ------------  ------------

Total current assets                                  446,676       537,423

Property and equipment, net                           203,208       185,552
Goodwill                                            1,648,069     1,637,202
Intangible assets, net                              1,529,688     1,569,903
Deferred financing costs, net                          27,723        32,737
Other assets                                            6,753         5,541
                                                 ------------  ------------

Total Assets                                     $  3,862,117  $  3,968,358
                                                 ============  ============

             LIABILITIES AND EQUITY

Liabilities:
Accounts payable, trade                          $     20,477  $     20,282
Accrued liabilities                                    85,929       105,842
Borrowings, current                                    19,000        25,356
Interest payable                                        3,452        30,233
Income taxes payable                                    1,405         3,057
Deferred revenue                                       32,204        19,639
                                                 ------------  ------------

Total current liabilities                             162,467       204,409

Income taxes payable                                    3,427        13,566
Deferred tax liabilities                              537,497       573,780
Other liabilities                                      57,971        57,547
Borrowings, net of current portion and original
 issue discount                                     2,201,771     1,940,150
                                                 ------------  ------------

Total Liabilities                                   2,963,133     2,789,452
                                                 ------------  ------------

Equity:
Common stock                                                -             -
Additional paid-in-capital                            968,465     1,237,766
Accumulated loss                                     (127,715)      (89,056)
Accumulated other comprehensive income                 58,234        30,196
                                                 ------------  ------------

Total Equity                                          898,984     1,178,906
                                                 ------------  ------------

Total Liabilities and Equity                     $  3,862,117  $  3,968,358
                                                 ============  ============


               INTERACTIVE DATA CORPORATION AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 Unaudited
                               (In thousands)

                                                       Six Months Ended
                                                           June 30,
                                                       2014         2013
                                                   -----------  -----------

Cash flows from operating activities:
Net (loss) income                                  $   (38,659) $    14,167
Adjustments to reconcile net (loss) income to net
 cash provided by operating activities:
  Depreciation and amortization                         73,589       82,815
  Amortization of deferred financing costs and
   accretion of debt discounts                           6,991        8,140
  Deferred income taxes                                (32,864)      (2,944)
  Non-cash stock-based compensation                      8,467        1,726
  Non-cash interest expense                              1,130          753
  Provision for doubtful accounts and sales
   credits                                               3,279        1,364
  Asset abandonment                                      3,275            -
  Loss on dispositions of fixed assets                       7            9
  Loss on extinguishment of debt                        82,060       10,213
  Portion of insurance settlement related to
   property and equipment                                    -       (2,485)
  Changes in operating assets and liabilities, net     (67,423)      (8,411)
                                                   -----------  -----------
NET CASH PROVIDED BY OPERATING ACTIVITIES               39,852      105,347

Cash flows from investing activities:
  Purchase of property and equipment                   (43,797)     (33,881)
  Proceeds of insurance settlement related to
   property and equipment                                    -        2,485
  Purchase of short-term investments                         -       (3,335)
  Proceeds from the sales of short-term
   investments                                           3,410       14,236
                                                   -----------  -----------
NET CASH USED IN INVESTING ACTIVITIES                  (40,387)     (20,495)

Cash flows from financing activities:
  Principal payments on long-term debt              (1,995,213)      (3,649)
  Proceeds from issuance of long-term debt, net of
   issuance costs                                    2,166,442            -
  Payment of long-term debt issuance costs, net of
   proceeds                                                  -       (1,009)
  Principal payments on capital leases                    (253)        (198)
  Payment of interest rate cap                            (831)        (831)
  Capital contribution resulting from exercise of
   parent company stock options                          1,963            -
  Capital contribution from parent company               9,715            -
  Return of capital to parent company                 (272,895)           -
  Dividend to parent company                           (14,438)     (14,277)
  Capital reduction resulting from cash
   distribution to option holders                       (2,928)        (322)
                                                   -----------  -----------
NET CASH USED IN FINANCING ACTIVITIES                 (108,438)     (20,286)

  Effect of change in exchange rates on cash and
   cash equivalents                                      7,038      (11,496)
                                                   -----------  -----------

NET (DECREASE) INCREASE IN CASH AND CASH
 EQUIVALENTS                                          (101,935)      53,070
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD       356,733      224,597
                                                   -----------  -----------

CASH AND CASH EQUIVALENTS AT END OF PERIOD         $   254,798  $   277,667
                                                   ===========  ===========


                    RECONCILIATION OF NON-GAAP MEASURES

                      Total Organic (Non-GAAP) Revenue
                (Revenue before Effects ofForeign Exchange)
                               (In thousands)


                          Three Months Ended           Six Months Ended
                               June 30,                    June 30,
                     --------------------------  --------------------------
                       2014      2013    Change      2014   2013  Change
                     --------  -------- -------  --------------------------

Total revenue        $232,081  $225,110     3.1% $466,479  $448,614     4.0%
  Total effects of
   foreign exchange    (3,970)        -       -    (6,212)        -       -
                     --------  -------- -------  --------  -------- -------
Total organic (non-
 GAAP) revenue       $228,111  $225,110     1.3% $460,267  $448,614     2.6%
                     ========  ======== =======  ========  ======== =======



            Interactive Data Pricing and Reference Data Segment
                         Organic (Non-GAAP) Revenue
                (Revenue before Effects ofForeign Exchange)
                               (In thousands)


                           Three Months Ended          Six Months Ended
                                June 30,                   June 30,
                       -------------------------  -------------------------
                         2014      2013   Change    2014      2013   Change
                       --------  -------- ------  --------  -------- ------

Pricing and Reference
 Data revenue          $165,830  $160,103    3.6% $328,773  $317,579    3.5%
  Effects of foreign
   exchange              (2,207)        -      -    (3,286)        -      -
                       --------  -------- ------  --------  -------- ------
Total organic (non-
 GAAP) revenue         $163,623  $160,103    2.2% $325,487  $317,579    2.5%
                       ========  ======== ======  ========  ======== ======



                 Interactive Data Trading Solutions Segment
                         Organic (Non-GAAP) Revenue
                (Revenue before Effects ofForeign Exchange)
                               (In thousands)


                           Three Months Ended          Six Months Ended
                                June 30,                   June 30,
                       -------------------------  -------------------------
                         2014      2013   Change    2014      2013   Change
                       --------  -------- ------  --------  -------- ------
Trading Solutions
 revenue
  Real-Time Feeds and
   Trading
   Infrastructure
   Services            $ 29,065  $ 27,034    7.5% $ 62,079  $ 54,636   13.6%
  Hosted Web
   Applications and
   Workstations          37,186    37,973   -2.1%   75,627    76,399   -1.0%
                       --------  -------- ------  --------  -------- ------
Total Trading
 Solutions revenue     $ 66,251  $ 65,007    1.9% $137,706  $131,035    5.1%
  Effects of foreign
   exchange              (1,763)        -      -    (2,926)        -      -
                       --------  -------- ------  --------  -------- ------
Total organic (non-
 GAAP) revenue         $ 64,488  $ 65,007   -0.8% $134,780  $131,035    2.9%
                       ========  ======== ======  ========  ======== ======



              RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

                        Non-GAAP Adjusted EBITDA(1)
                     (In thousands, except margin data)


                               Three Months Ended       Six Months Ended
                                    June 30,                June 30,
                             ----------------------  ----------------------
                                2014        2013        2014        2013
                             ----------  ----------  ----------  ----------
Net (loss) income            $  (53,748) $   15,035  $  (38,659) $   14,167
  Interest expense, net          32,470      34,210      66,053      69,419
  Other income, net                 (14)        (14)       (654)       (347)
  Income tax (benefit)
   expense                      (32,849)        369     (39,984)       (447)
  Depreciation and
   amortization                  36,951      40,339      73,589      82,815
                             ----------  ----------  ----------  ----------
EBITDA                       $  (17,190) $   89,939  $   60,345  $  165,607

Adjustments:
  Non-cash stock-based
   compensation                   7,325         874       8,467       1,726
  Other non-recurring
   charges(2)                    90,663         818      91,193      12,600
  Other charges (income)(3)       6,110      (3,335)      8,582      (8,497)
                             ----------  ----------  ----------  ----------
    Total Adjustments           104,098      (1,643)    108,242       5,829

Adjusted EBITDA              $   86,908  $   88,296  $  168,587  $  171,436

Adjusted EBITDA Margin(4)          37.4%       39.2%       36.1%       38.2%

(1) Interactive Data's adjusted EBITDA excludes items that are either not
part of the Company's ongoing core operations, do not require a cash outlay
or are not otherwise expected to recur in the ordinary course. Please note
that the sum of certain amounts may not equal the total due to rounding.

(2) Other non-recurring charges include, as applicable, the loss on
extinguishment of debt ($82.1 million in the six months ended June 30, 2014
and $10.2 million in the six months ended June 30, 2013), facility
consolidation costs, and certain severance and retention expenses.

(3) Other charges (income) include, as applicable, insurance recoveries,
management fees, non-cash foreign exchange expense, acquisition-related
adjustments, certain professional fees and other costs.

(4) Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by
total revenue.



              RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

             Trailing Four Quarters and Trailing Twelve Months
                   Quarterly Non-GAAP Adjusted EBITDA(1)
                     (In thousands, except margin data)


                                                                   Trailing
                                                                    Twelve
                                                                    Months
                               Three Months Ended                   Ended
               September 30,  December 31,  March 31,   June 30,   June 30,
               -------------  ------------  ---------  ---------  ---------
                    2013          2013         2014       2014       2014
               -------------  ------------  ---------  ---------  ---------
Net income
 (loss)        $      14,132  $      5,207  $  15,089  $ (53,748) $ (19,320)
 Interest
  expense, net        34,198        34,011     33,583     32,470    134,262
 Other income,
  net                      -             -       (640)       (14)      (654)
 Income tax
  (benefit)
  expense             (7,170)        2,605     (7,135)   (32,849)   (44,549)
Depreciation
 and
 amortization         37,859        38,739     36,638     36,951    150,187
               -------------  ------------  ---------  ---------  ---------
EBITDA         $      79,019  $     80,562  $  77,535  $ (17,190) $ 219,926

Adjustments:
 Non-cash
  stock-based
  compensation         1,067         1,153      1,142      7,325     10,687
 Other non-
  recurring
  charges(2)             435         5,143        530     90,663     96,771
 Other
  charges(3)           7,343         2,237      2,472      6,110     18,162
               -------------  ------------  ---------  ---------  ---------
  Total
   Adjustments         8,845         8,533      4,144    104,098    125,620

Adjusted
 EBITDA        $      87,864  $     89,095  $  81,679  $  86,908  $ 345,546

Adjusted
 EBITDA
 Margin(4)              39.2%         38.4%      34.8%      37.4%      37.4%


(1) Interactive Data's adjusted EBITDA excludes items that are either not
part of the Company's ongoing core operations, do not require a cash outlay
or are not otherwise expected to recur in the ordinary course. Please note
that the sum of certain amounts may note equal the total due to rounding.

(2) Other non-recurring charges include, as applicable, the loss on
extinguishment of debt ($82.1 million in the six months ended June 30,
2014), facility consolidation costs, and certain severance and retention
expenses.

(3) Other charges include, as applicable, insurance recoveries, management
fees, non-cash foreign exchange expense, acquisition-related adjustments,
certain professional fees and other costs.

(4) Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by
total revenue.



                          Non-GAAP Free Cash Flow
                               (In thousands)


                         Three Months Ended           Six Months Ended
                              June 30,                    June 30,
                     --------------------------  --------------------------
                        2014      2013   Change     2014      2013   Change
                     --------- --------- ------  --------- --------- ------
Adjusted EBITDA      $  86,908 $  88,296   -1.6% $ 168,587 $ 171,436   -1.7%
  Capital
   Expenditures         22,968    17,527   31.0%    43,797    33,881   29.3%
                     --------- --------- ------  --------- --------- ------
Free Cash Flow       $  63,940 $  70,769   -9.6% $ 124,790 $ 137,555   -9.3%
                     ========= ========= ======  ========= ========= ======

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
HP and Aruba Networks on Monday announced a definitive agreement for HP to acquire Aruba, a provider of next-generation network access solutions for the mobile enterprise, for $24.67 per share in cash. The equity value of the transaction is approximately $3.0 billion, and net of cash and debt approximately $2.7 billion. Both companies' boards of directors have approved the deal. "Enterprises are facing a mobile-first world and are looking for solutions that help them transition legacy investments to the new style of IT," said Meg Whitman, Chairman, President and Chief Executive Officer of HP...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
PubNub on Monday has announced that it is partnering with IBM to bring its sophisticated real-time data streaming and messaging capabilities to Bluemix, IBM’s cloud development platform. “Today’s app and connected devices require an always-on connection, but building a secure, scalable solution from the ground up is time consuming, resource intensive, and error-prone,” said Todd Greene, CEO of PubNub. “PubNub enables web, mobile and IoT developers building apps on IBM Bluemix to quickly add scalable realtime functionality with minimal effort and cost.”
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
In the consumer IoT, everything is new, and the IT world of bits and bytes holds sway. But industrial and commercial realms encompass operational technology (OT) that has been around for 25 or 50 years. This grittier, pre-IP, more hands-on world has much to gain from Industrial IoT (IIoT) applications and principles. But adding sensors and wireless connectivity won’t work in environments that demand unwavering reliability and performance. In his session at @ThingsExpo, Ron Sege, CEO of Echelon, will discuss how as enterprise IT embraces other IoT-related technology trends, enterprises with i...
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data they generate about customer usage and product performance to deliver extremely compelling and reliabl...
The Internet of Things (IoT) is causing data centers to become radically decentralized and atomized within a new paradigm known as “fog computing.” To support IoT applications, such as connected cars and smart grids, data centers' core functions will be decentralized out to the network's edges and endpoints (aka “fogs”). As this trend takes hold, Big Data analytics platforms will focus on high-volume log analysis (aka “logs”) and rely heavily on cognitive-computing algorithms (aka “cogs”) to make sense of it all.
With several hundred implementations of IoT-enabled solutions in the past 12 months alone, this session will focus on experience over the art of the possible. Many can only imagine the most advanced telematics platform ever deployed, supporting millions of customers, producing tens of thousands events or GBs per trip, and hundreds of TBs per month. With the ability to support a billion sensor events per second, over 30PB of warm data for analytics, and hundreds of PBs for an data analytics archive, in his session at @ThingsExpo, Jim Kaskade, Vice President and General Manager, Big Data & Ana...
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understanding the kinds of data: structured, unstructured, big/small? Analytics: What kinds and how responsiv...
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
Roberto Medrano, Executive Vice President at SOA Software, had reached 30,000 page views on his home page - http://RobertoMedrano.SYS-CON.com/ - on the SYS-CON family of online magazines, which includes Cloud Computing Journal, Internet of Things Journal, Big Data Journal, and SOA World Magazine. He is a recognized executive in the information technology fields of SOA, internet security, governance, and compliance. He has extensive experience with both start-ups and large companies, having been involved at the beginning of four IT industries: EDA, Open Systems, Computer Security and now SOA.
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, representing a model of how to analyze rea...