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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%
                     ========= ========= ======  ========= ========= ======

COMPANY CONTACTS
Investors:
Vincent Chippari
Senior Vice President and Chief Financial Officer
781-687-8250
[email protected]

Media:
Anne O'Brien
Senior Vice President, Marketing
212-771-6956
[email protected]

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SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they b...
Amazon is pursuing new markets and disrupting industries at an incredible pace. Almost every industry seems to be in its crosshairs. Companies and industries that once thought they were safe are now worried about being “Amazoned.”. The new watch word should be “Be afraid. Be very afraid.” In his session 21st Cloud Expo, Chris Kocher, a co-founder of Grey Heron, will address questions such as: What new areas is Amazon disrupting? How are they doing this? Where are they likely to go? What are th...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.