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08 May 2015
Achieves Record First Quarter Revenues (up 20.3% vs. Q1 2014), EBITDA (up 20.9% vs. Q1 2014), Free Cash Flow (up 13.5% vs. Q1 2014) and Adjusted Non-GAAP EPS (up 11.8% vs. Q1 2014)
Announces Fifteenth Consecutive Quarterly Dividend Increase
LOS ANGELES, CA – May 7, 2015 — /BackupReview.info/ – j2 Global, Inc. (NASDAQ: JCOM) today reported financial results for the first quarter endedMarch 31, 2015 and announced that its Board of Directors has declared an increased quarterly cash dividend of $0.30 per share.
FIRST QUARTER 2015 RESULTS
Primarily due to additional amortization of intangible assets and integration costs of $8.0 million (net of tax), or $0.17 per diluted share and interest costs associated with our convertible senior notes that were not present in the prior comparable quarter of$3.7 million (net of tax), or $0.08 per diluted share, GAAP earnings per diluted share (1) for the quarter decreased (25)% to $0.45compared to $0.60 for Q1 2014. Adjusted Non-GAAP earnings per diluted share (1)(2) for the quarter increased 11.8% to a Q1 record $0.85 compared to $0.76 for Q1 2014.
Quarterly EBITDA (3) increased 20.9% to a Q1 record $69.3 million compared to $57.3 million for Q1 2014.
Q1 2015 free cash flow (4) increased 13.5% to a Q1 record $43.6 million compared to $38.4 million.
j2 ended the quarter with approximately $539.5 million in cash and investments after deploying $89.2 million during the quarter for nine acquisitions and j2′s regular quarterly dividend.
Key financial results for Q1 2015 versus Q1 2014 are set forth in the following table (in millions, except per share amounts). Reconciliations of earnings per diluted share, EBITDA and free cash flow to their nearest comparable GAAP financial measures are attached to this Press Release.
“The first quarter was very strong; we surpassed our EBITDA and non-GAAP earnings targets and closed nine acquisitions,” saidHemi Zucker, CEO of j2. “Our 2015 outlook plan included only a modest amount of M&A for the year, which has already been accomplished. During the remainder of the year we will continue to recognize the synergies from the integration of these acquisitions and pursue additional acquisitions already identified in various stages of development. Additionally, we will continue to execute against our organic business plan.”
Adjusted Non-GAAP earnings per diluted share for 2015 excludes share-based compensation of between $9 and $11 million, amortization of acquired intangibles and the impact of any currently unanticipated items, in each case net of tax.
It is anticipated that the normalized tax rate for 2015 (exclusive of the release of reserves for uncertain tax positions) will be at the higher end of the provided business outlook range between 27% and 29%.
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