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Thanks on Hawkin's buy. Did not see it. He is also part of IRIX where I hold a bunch
DRAD: unusual volume, nice blocks going off at ask. This can't be just for the divy
GTT: nice recovery from last week, acquired a bunch mid to low 8s, now $10+
GTT: +11% no sellers, room to run
GTT making nice post earnings move, not seeing any sellers, much room to run IMO
out some 23.91>re:NNBR: took a few 18.83
from GeoInvesting We see $GTT share weakness as a buying opportunity. We have added some shares. Trading at a significant discount to closet competitor
$22.87>re:NNBR: took a few 18.83
GTT: finally moving up on good earnings
GTT: I think this earnings report is quite good. They beat on both top and bottom line. This company is growing and well managed by seasoned veterans. Yesterday's sell off come as someone attempted to exit and was determined to get out before earnings. It is a low vol stock and getting in and out is not that easy without moving the stock.
I have invested in them since sub $5. Swing in and out. I took quite a few of those shares near the close yesterday on the dump down. May get more this morning if it dumps.
GTT Reports First Quarter 2014 Financial Results
Revenue Grew 80% to $47.5 million
Adjusted EBITDA Increased 132% to $8.4 million
May 09, 2014 08:00 AM Eastern Daylight Time
MCLEAN, Va.--(BUSINESS WIRE)--GTT Communications, Inc. (“GTT”) (NYSE MKT: GTT), a cloud networking service provider offering Tier 1 IP and Ethernet network solutions to multinational enterprises, today announced its financial results for the first quarter ended March 31, 2014. Highlights include:
“First quarter revenue and Adjusted EBITDA growth remained strong year-over-year and sequentially. GTT’s addressable market of multinational clients with needs for secure, scalable and burstable cloud networking solutions is undergoing rapid growth.”
Highlights
Revenue increased 80 percent to $47.5 million as compared to $26.4 million in the first quarter of 2013
Gross Margin increased 380 basis points to 37.0% compared to 33.2% in the first quarter of 2013
Adjusted Earnings before Interest Taxes Depreciation and Amortization (“EBITDA”)* increased by 132 percent to $8.4 million compared to $3.6 million in the first quarter of 2013
Adjusted EBITDA margin expanded 400 basis points to 17.7% from 13.7% in the first quarter of 2013
Net loss of $0.41 per share includes $0.37 per share loss related to other non-cash expense of $7.2 million for the mark-to-market of warrants and other non-cash expense of $1.6 million related to the final nLayer earn-out both due to significant stock price appreciation in the quarter
* See “Annex A: Non-GAAP Financial Information-Adjusted EBITDA” for more information regarding the computation of Adjusted EBITDA.
“2014 is off to a terrific start," stated Rick Calder, President and CEO. “First quarter revenue and Adjusted EBITDA growth remained strong year-over-year and sequentially. GTT’s addressable market of multinational clients with needs for secure, scalable and burstable cloud networking solutions is undergoing rapid growth.”
“We are seeing significant client wins based on our proven strategy of extending ubiquitous network connectivity worldwide, expanding our cloud networking service portfolio, and delivering outstanding client experience with simplicity, speed and agility. We will continue to accelerate our growth toward our next financial objectives of $400 million in revenue and $100 million in Adjusted EBITDA. Our aim remains to be the clear leader in addressing the unique cloud networking needs of our target multinational clients.”
First quarter revenue, gross margin and Adjusted EBITDA all increased on a sequential basis. Revenue increased 3% driven by significant new services additions from the fourth quarter 2013. Gross margin expanded 80 basis points through sales growth in higher-margin service installations and further network cost efficiencies. Adjusted EBITDA increased 5% due to the strong flow through from gross margin.
“GTT’s operating leverage continues to expand as strong revenue growth and increasing gross margins generated another strong quarter in Adjusted EBITDA growth,” stated Michael Bauer, Chief Financial Officer. “Importantly, in our capex light business model we only spent $1.7 million in capital expenditures, or 3.6% of revenue, yielding $6.7 million in unlevered free cash flow. We expect to execute our growth strategy organically and through acquisition to extend our record of strong financial results. Supported by our high level of financial flexibility, GTT is excellently positioned for another strong year.”
GTT: I think this earnings report is quite good. They beat on both top and bottom line. This company is growing and well managed by seasoned veterans. Yesterday's sell off come as someone attempted to exit and was determined to get out before earnings. It is a low vol stock and getting in and out is not that easy without moving the stock.
I have invested in them since sub $5. Swing in and out. I took quite a few of those shares near the close yesterday on the dump down. May get more this morning if it dumps.
GTT Reports First Quarter 2014 Financial Results
Revenue Grew 80% to $47.5 million
Adjusted EBITDA Increased 132% to $8.4 million
May 09, 2014 08:00 AM Eastern Daylight Time
MCLEAN, Va.--(BUSINESS WIRE)--GTT Communications, Inc. (“GTT”) (NYSE MKT: GTT), a cloud networking service provider offering Tier 1 IP and Ethernet network solutions to multinational enterprises, today announced its financial results for the first quarter ended March 31, 2014. Highlights include:
“First quarter revenue and Adjusted EBITDA growth remained strong year-over-year and sequentially. GTT’s addressable market of multinational clients with needs for secure, scalable and burstable cloud networking solutions is undergoing rapid growth.”
Highlights
Revenue increased 80 percent to $47.5 million as compared to $26.4 million in the first quarter of 2013
Gross Margin increased 380 basis points to 37.0% compared to 33.2% in the first quarter of 2013
Adjusted Earnings before Interest Taxes Depreciation and Amortization (“EBITDA”)* increased by 132 percent to $8.4 million compared to $3.6 million in the first quarter of 2013
Adjusted EBITDA margin expanded 400 basis points to 17.7% from 13.7% in the first quarter of 2013
Net loss of $0.41 per share includes $0.37 per share loss related to other non-cash expense of $7.2 million for the mark-to-market of warrants and other non-cash expense of $1.6 million related to the final nLayer earn-out both due to significant stock price appreciation in the quarter
* See “Annex A: Non-GAAP Financial Information-Adjusted EBITDA” for more information regarding the computation of Adjusted EBITDA.
“2014 is off to a terrific start," stated Rick Calder, President and CEO. “First quarter revenue and Adjusted EBITDA growth remained strong year-over-year and sequentially. GTT’s addressable market of multinational clients with needs for secure, scalable and burstable cloud networking solutions is undergoing rapid growth.”
“We are seeing significant client wins based on our proven strategy of extending ubiquitous network connectivity worldwide, expanding our cloud networking service portfolio, and delivering outstanding client experience with simplicity, speed and agility. We will continue to accelerate our growth toward our next financial objectives of $400 million in revenue and $100 million in Adjusted EBITDA. Our aim remains to be the clear leader in addressing the unique cloud networking needs of our target multinational clients.”
First quarter revenue, gross margin and Adjusted EBITDA all increased on a sequential basis. Revenue increased 3% driven by significant new services additions from the fourth quarter 2013. Gross margin expanded 80 basis points through sales growth in higher-margin service installations and further network cost efficiencies. Adjusted EBITDA increased 5% due to the strong flow through from gross margin.
“GTT’s operating leverage continues to expand as strong revenue growth and increasing gross margins generated another strong quarter in Adjusted EBITDA growth,” stated Michael Bauer, Chief Financial Officer. “Importantly, in our capex light business model we only spent $1.7 million in capital expenditures, or 3.6% of revenue, yielding $6.7 million in unlevered free cash flow. We expect to execute our growth strategy organically and through acquisition to extend our record of strong financial results. Supported by our high level of financial flexibility, GTT is excellently positioned for another strong year.”
Conference Call Information
GTT will hold a conference call today, on Friday, May 9, 2014 at 10:00 a.m. Eastern Time to discuss these results. To participate in the live conference call, interested parties may dial +1.888.437.9445 or +1.719.325.2428, entering passcode 2001639. A simultaneous live webcast of the call will be available over the Internet at www.gtt.net, under the Investor Relations section of the site. A telephonic replay of the conference call will be available for one month and may be accessed by calling +1.888.203.1112 or +1.719.457.0820 and using the passcode 2001639. The webcast will be archived in the investor relations section of the company's web site www.gtt.net.
GTT: got 3 out of 4 low bids filled into the close. Will add more tomorrow if/when earnings causes further drop
CONN: nice come back today
GTT:shoot, if this keeps falling today I may have to change this to gapper. Low bids in to begin starter position once again. Gosh this one trades well for me
Welcome back. Guess we have to behave now
Tanker GTT earnings, I like them but those companies who are in high tech and are not making profits get hit. I hope this one gets hit hard and I will be a buyer again near $9
GIMO:upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Gigamon to Outperform based on valuation increasing visibility into network management spending, rising levels of activity and a product portfolio that is driving customer penetration. Price target raised to $25 from $20.
CONN: been buying back shares on today's move. Last add back 41.10.
lol, I used to make good money shorting them when they did mostly electronics. The new store models seem to be doing well. I rode this up from avg price of around 32.50 and exited most when Einhorn news sent it up big. 10% owner recently bought ~$10M at avg ~39.50
We shall see how I fair this time. I don't mind seeing it pull back sub $40. I just slowly build position again
So did you look over BASI? Any thoughts you care to share?
21.24, cc at 11EST>re:NNBR: took a few 18.83
Gapper NNBR earnings play and I am a long holder, investment shares
re: DRAD, thanks for weighing in on it. Not a sexy company but I like that it has some decent growth and continues to spin off a nice divy that looks safe.
Might wish to also take a look at BASI.
Gonna use Gap wedge and say Tank u very much tomorrow so no Gapper or Tanker pick for me today :D
NNBR: took a few 18.83, caution earnings Tuesday. Just a solid company with new leadership
guidance annual sales of $373 million in 2013 to $800 million in 2018
AVNR: covered 1/2 4.62 from $5
Thanks George, still riding AVNR down, but not sure I get a lot more from it.
Watch IBTX. Getting unloaded on, I am all out but watching for re-entry point. Will do multiple buys, starting slow and if it should die off from where I re-enter, I will just buy more
DRAD: up, nice earnings, good conf call, nice divy, good future, low float, Eberwein big owner
He is in for the long haul, I am only short for a trade and I do not expect to get too much of a fall back. He apparently knows the company, I profess no knowledge of them. I can assure you I do not have 50k shares short :D lol
AVNR short $5.00, +45% what the heck, will short more on another 10% move
SPNC: heard Northland had negative bit out about head of sales being fired. Took small short 21.24. I was not able to confirm
Tanker AVNR, cuz it opens I think at 3:30 pm EST on news and stocks usually have a tendency to overreact, thus making this a tanker pick for me
Gapper DRAD, earnings and i have some in long term hold account, more of a hope than an expectation
AVNR, so what does this judgement provide to AVNR in the way of stock price valuation? I have not followed it but was told you are the pro. Thank you
Your timing is usually pretty good! :D Hopefully this begins a long climb back up
AVNR anyone follow this? What is the valuation of a patent award mean to stock valuation?
MPAA files for $100M mixed shelf
http://www.sec.gov/Archives/edgar/data/918251/000114036114017987/forms3.htm
yup, GIMO has turned out to be a very poor performing stock. Not behaving as I would have thought. So what to do? I will just ride what I have. It won't take much to put me back in green again.
I think a lot of the tech stocks are performing poorly at this time. How long will that last, gosh i hope not much longer. I have several that have fallen.
It is so much easier to hold when you know you have value. With GIMO, no debt, lots of cash, still has good growth and the CEO as much as said their guidance was conservative so they do not find themselves embarrassed. I still have add room if it takes out the all time lows.
But, frustrating at this point.
best wishes
Gapper IBTX earnings and long term hold for me and it is off near 20% from recent highs
Thanks all re: GIMO, and Ico, u forgot to include...and....the golf game :D Just got in from my round today. Gorgeous day and decent scoring round.
If you like long holds, this one still represents what I think is a great opportunity for some swing gain. I just looked it over for how it has done on the day. Lots of upside left IMO.
Best wishes
GIMO: Needham Buy to Strong Buy with a price target of $34, saying they expect a rapid recovery post Q1 miss and sell-off.
Analyst Alex Henderson commented, "GIMO was cut in half on the 1Q miss. It's selling at just 1.6x EV/Sales and 16.7x EV/E. We expect 20%+ growth and sharply expanding margins. We believe GIMO is a leader in a rapidly growing sector that is becoming increasingly strategic. We think the stock is oversold and we are making it one of only three stocks in our coverage rated Strong BuyGIMO was cut in half on the 1Q miss. It's selling at just 1.6x EV/Sales and 16.7x EV/E. We expect 20%+ growth and sharply expanding margins.