iBasis, Inc. Q3 2009 Earnings Call Transcript

iBasis, Inc. (IBAS) Q3 2009 Earnings Call October 26, 2009 5:00 pm ET Executives Ofer Gneezy – Chairman of the Board, President & Chief Executive Officer Richard G. Tennant – Chief Financial Officer & Senior Vice President Finance and Administration Gordon J. VanderBrug, Ph.D. – Executive Vice President, Assistant Secretary & Director Presentation Operator Welcome to the iBasis third quarter financial results conference call. At this time all participants are on a listen only mode. There will be an opportunity for you to ask questions at the conclusion of the presentation. I would like to advise you that this conference is being recorded (Operator Instructions) Today, our speakers will be Mr. Ofer Gneezy, President and CEO of iBasis and Mr. Richard Tennant, CFO of iBasis. I would now like to hand the presentation over to Mr. Ofer Gneezy. Ofer Gneezy Welcome to the iBasis third quarter 2009 preliminary result conference call. This is Ofer Gneezy, President and CEO. Joining me today are Dick Tennant our CFO and Gordon VanderBrug, our Executive VP. Today we announced preliminary results as the company has not yet finalized its review of foreign exchange gains and losses for the third quarter and nine months of 2009. In addition, it is reasonably likely that we may have to restate our results of operations for the second quarter of 2009 to reflect foreign exchange adjustments that are currently recorded in our preliminary third quarter results and the first quarter of 2009 for $0.6 million depreciation adjustment that was recorded in our second quarter 2009 results. As you know, in July Royal KPN commenced a non-solici...
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How Google Voice Is Growing

How Google Voice Is Growing BusinessWeek's review of information handed over to regulators shows the call-management service has more than 1 million users. It may be expanded abroad By Arik Hesseldahl In response to questions by U.S. regulators, Google (GOOG) handed over information about the number of users for its Google Voice communication service and a list of the companies that route the calls sent via Google Voice. It also outlined plans that suggest it may expand the call-management service into foreign markets. Google Voice, which provides people with a single phone number that can be used to reach them on their work, home, or cell phones, has 1.419 million users, according to the letter. Of those, 570,000 use it seven days a week, Google says. Google Voice began in 2005 as GrandCentral, a startup acquired by Google in 2007. Ring Central, a company founded in 1998 that provides similar call-management services to small businesses, says it has "tens of thousands" of customers. The contrast underscores the rapidly increasing popularity of a service that, while available only on a limited basis, has put Google at odds with Apple (AAPL) and AT&T (T) and subjected the Web search company to questioning by the Federal Communications Commission. The top communications regulator asked for information about the service after AT&T complained that Google Voice was unfairly blocking calls to certain numbers in rural areas. Google sent its response on Oct. 28. Formatting Error Though the number of Google Voice customers was redacted in the version that was made publ...
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IBASIS INC Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits

Item 7.01 Regulation FD Disclosure. Attached hereto as Exhibit 99.1 are certain financial projections for years 2010-2014. The information in this Form 8-K and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 (except as shall be expressly set forth by specific reference in such filing). Financial Projections iBasis does not, as a matter of course, make public forecasts or projections as to future financial performance. However, during 2009, our management prepared prospective financial information to present certain projections of financial performance for the Company, and these financial projections were provided to the special committee of our Board of Directors (the "Special Committee") appointed to review and evaluate the unsolicited tender offer (the "Offer") by Koninklijke KPN N.V., a public company incorporated under the laws of The Netherlands ("KPN"). None of these projections were prepared with a view toward public disclosure, nor with a view toward complying with the guidelines of the American Institute of Certified Public Accountants with respect to prospective financial information, but, in the view of our management, they were prepared on a reasonable basis, reflect the best estimates and judgments available as of the date of their preparation, and present, to the best of our management's knowledge and belief as of the date of their preparation, the expected course of action and the expected future financial performance of iBasis. However, these financial projections are not fact and should not be relied upon as being indicative of future results, and readers of this Current Report on Form 8-K are cautioned not to place undue reliance on these financial projections. Neither our independent auditors, nor any other independent ac...
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iBasis CFO Richard Tennant to Present at Imperial Capital Global Opportunities Conference

BURLINGTON, Mass.--(BUSINESS WIRE)--iBasis, Inc. (NASDAQ: IBAS - News), a KPN affiliate, today announced that company CFO Richard Tennant will present at the Imperial Capital 3rd Annual Global Opportunities Conference on Thursday, November 5th in New York. Mr. Tennant’s presentation will commence at 3:55 p.m. EST and will focus on iBasis’ significant value proposition. A live webcast of the presentation will be available on the iBasis investor website (http://investor.ibasis.com). The full investor presentation is also available on the site.About the Conferencerd Annual Global Opportunities Conference will take place November 4 and 5 at the New York Palace on Madison Avenue in New York. The conference brings leading public and private companies together to discuss their strategic growth, future financing, and capital markets plans. For more information, visit the Imperial Capital website at ...
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IBASIS INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for IBASIS INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for IBASIS INC 9-Nov-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended f...
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SEC Closes Investigation into iBasis Stock Option Granting Practice; No Enforcement Action Recommended

BURLINGTON, Mass.--(BUSINESS WIRE)--iBasis, Inc. (NASDAQ: IBAS - News), a KPN affiliate, today announced it has been notified by the staff of the Securities and Exchange Commission (SEC) that the agency has terminated its investigation into the company’s past stock option grant practices, and that the staff does not intend to recommend any enforcement action against the company, or any of its current or former officers or directors. About iBasisFounded in 1996, iBasis (NASDAQ: IBAS - News) is a leading wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services and enhanced services for mobile operators. iBasis customers include KPN...
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IBASIS INC Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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InPlay: iBasis announces SEC Closes investigation into iBasis stock option granting practice; no enforcement action recommended

6:26PM Boise Inc. announced that the previously announced secondary offering of 17 mln shares of its common stock has been priced at $4.85 per share (BZ) 5.09 +0.04 :   5:01PM Oncolytics Biotech announces unit offering (ONCY) 3.43 -0.26 : Co announced that it is undertaking an overnight marketed offering of units, each comprised of one common share and a portion of a common share purchase warrant to be effected in each of the Canadian provinces of British Columbia, Alberta, Manitoba and Ontario by way of a prospectus supplement to Oncolytics' base shelf short form prospectus, and in the United States...  ONCY intends to use the net proceeds from the offering to fund its previously announced Phase III combination REOLYSIN and paclitaxel/carboplatin trial for patients with platinum-failed head and neck cancers, its other clinical development and research and development activities, and for general corporate and working capital purposes. 5:00PM Coldwater Creek announced the resignation of Tim Martin, Senior Vice President and Chief Financial Officer (CWTR) 5.81 -0.27 : Co has appointed John E. Hayes, III, Senior Vice President and General Counsel of Coldwater Creek, to serve as interim Chief Financial Officer, effective November 25, 2009, until a permanent successor is named. 4:55PM Quest Diagnostics announces pricing of tender offer for any and all of certain of its outstanding notes (DGX) 59.07 -0.35 : Co announced the determination of the pricing for its previously announced cash tender offer to purchase any and all of its 5.125% Senior Notes due 2010 and any and all of its 7.50% Senior Notes due 2011. 4:44PM Hampton Roads Bankshares defers dividends on TARP preferred stock (...
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