Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
What do you mean near term catalysts are a couple months out? They just announced a new $2.4 million contract a few days ago, and I'm willing to bet more to be announced before "a couple months out". lol
Me too!
NEWS:
SHREWSBURY, N.J., March 14, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (ICLD), a leading provider of networking orchestration and automation solutions for IOT, SDN and NFV and services, today reported financial results for the full year 2016.
Full Year 2016 Financial Highlights:
Mark Munro, Chairman and CEO of InterCloud, stated, “In 2016, the Company began a systematic restructuring. The changes included the sale of certain assets to generate cash and reduce senior debt. Our senior debt now totals only $5.7 Million; which is down from $25.7 Million in June of 2016. The senior debt reduction along with the subordinated debt reductions since June 2016 now total over $27.4 Million. This is a significant and important reversal. Our team remains focused on eliminating or restructuring the remaining subordinated debt in order to reduce interest expense and increase the shareholder equity of the Company."
In addition, Mark Munro, Chairman and CEO of InterCloud stated, "InterCloud will continue to deleverage, sell assets that do not have significant upside for the long term and focus on deeper cost cutting measures to achieve positive cash flow. Our focus is on driving our cost of goods sold down as well as reducing future operating expenses. Corporate costs are also being reduced as our employees are focused on achieving more with less overhead.
"In 2016, InterCloud’s SDN and NFV related revenue increased from zero in 2015 to almost $5 million in 2016. This market has been slower to adopt than most experts predicted but clearly the virtualization of the network has begun and future opportunities remain robust and exciting for InterCloud. Our team has focused on several highly remarkable use cases in healthcare security and analytics, tier two carrier orchestration and automation, and deep machine learning analytics and automation for IOT applications. Recently, two companies with similar software platforms to InterCloud's have sold for over $100 million each. These events give us even more confidence we are in the right space at the right time. We have streamlined costs but our platform remains robust and the team continues to develop use cases with near term revenue opportunities. We have focused on strategic partnerships to help lower our costs of sales and deliver our solutions into large enterprise customers that already have existing relationships with our brand name partners. I look forward to reporting news around this market during 2017."
In conclusion, Mark Munro, Chairman and CEO stated, "2016 was a solid growth year for InterCloud. Revenue increased, costs lowered and debt was significantly reduced. We look forward to driving efficiencies deeper in 2017 and the continued growth and maturity in the new markets of IOT, SDN and NFV.”
Full Year 2016 Financial Results:
Revenue for the year ended December 31, 2016 increased by 5% to $78.0 million, compared to $74.1 million for 2015. This was the result of increased revenue from our professional services business segment offset by a decline in our managed services segment.
Gross profit was 25% for the year ended December 31, 2016 and 27% for 2015. Gross profit stayed relatively flat at $19.8 million for 2016 compared to $20.2 million in 2015. Increases in gross profit in our professional services segment were offset by decreases in our other segments. The gross profit percentage in the professional services segment was 28% for the year ended December 31, 2016.
The Company had a net loss attributable to common stockholders of $(26.5) million for the year ended December 31, 2016 compared to a net loss of $(65.8) million for the comparable period of 2015. The decrease in net loss during the year ended December 31, 2016 compared to the comparable period of 2015 resulted from an increase in the gain from the change in derivative instruments of $26.9 million, an increase in the gain on discontinued operations of $15.6 million, a decrease in goodwill impairment expense of $9.8 million and a reduction in salaries and wages expense of $5.0 million. This reduction in net loss was offset by an increase in interest expense of $4.4 million and an increase in SG&A expense of $3.3 million. Additionally, offsetting the decrease, the net losses from conversion and extinguishment of debt had a net increase of $4.3 million. Salaries and wages includes non-cash stock compensation expense of $3.3 million for the year ended December 31, 2016 compared to $8.6 million for the comparable period of 2015.
http://finance.yahoo.com/news/intercloud-systems-reports-full-2016-143213085.html;_ylt=AwrSbDrm_8dYVxIAAGpXNyoA;_ylu=X3oDMTEycXYzdm02BGNvbG8DZ3ExBHBvcwMyBHZ0aWQDQjM2NDNfMQRzZWMDc2M-
A/S maxed out, which means no conversions at this time. At some point, we will start to see panic buying when everyone tries to get their shares back. lol. People are just looking for their entry/reentry point right now.
First it was taken down on low volume until panic ensued.
Like taking candy.
A lot of people are adding/entering/reentering. With the kind of volume we've been seeing, everyone knows this is still in play.
Yes, of course. Just going with the flow.
Well, that was fun.
Trying to buy the panic. They won't fill me! lol
Hark! The market openeth! lol
I don't consider nickel silver. Nickel is made of nickel. lol. Dimes used to be made of silver, so that is what I technically consider silver.
Third time. Gapped up yesterday also.
We might open silver. Wow!
The 8-k last week indicated that would be doing a 1:4 r/s by the end of this month.
Revs up, debt down, losses down... reaction seems to be favorable premarket. 10-k only covered period through Dec 31, and more debt paid down since then.
So true!
I was hoping for a premarket filing! If it's as good as we are hoping, the chase can commence at the opening bell!
I know! Someone could try to pick a fight with me right now, and I would have to give them a hug and a smile because a 91% gain puts me in a good mood that no one can talk me out of. lol
If people can be cranky on a day like this, I'd hate to see them on a bad day. lol
As strong as this stock has been, that 200 sma at .26 looks quite doable!
ICLD is confounding a lot of people because it's not acting "normal" for an OTC stock. For example, did everyone see the dumpage when VERT appeared on the ask? The stock should have tanked but someone or some entities were soaking up every share until we went green again and reached new highs. As everyone has been saying, this is not just iHub playing.
Ok... so we traded roughly $11 million or more today. Where is this money coming from? Most here loaded last week or earlier. Most of those who bought today weren't throwing $50k - $100k at a time at the stock. So where does $11 million come from in one day? Just something to ponder....
All I've seen are rumors of a conference call... nothing issued by the company.
Soooo... if we gap up at the open to .09, how many people are going to wait for the gap to fill? lololol
Honestly, people can do whatever they want because we did around $11-$12 million dollar volume today, and that's not all iHub. iHubbers are trying to play this like other plays, and their shares are getting devoured by "someone"... it's the craziest thing I've seen in awhile.
Also, if this were running strictly on earnings, that would be one thing. But this is more of a NASDAQ uplist play and company growth play, which is actually more like an investment than a day or swing trade. Just my two cents... or 8.6 cents.
You too! I'll see everyone bright and early tomorrow!
That would be a beautiful thing! And imagine if fins hit premarket and show good news.
Close enough! Wow, what a day!!!
Wow, nhod going into close! Unreal!
Man, oh, man... what strength!
Hod close would be awesome!
Exactly. A/S maxed out. People don't think. Where'd he go? lol
iHub flippers selling, but someone keeps buying!
Oh, yeah, this is definitely not iHub!
Can't stop her.... so strong!
Over $10M dollar volume today. Crazy!
Profitable last quarter. $2.1M divided by 500M o/s x 30 p/e (avg for tech) = .126 per share. Helloooooo??????
And revs are $80M. Helloooo????? lol