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Share Name | Share Symbol | Market | Type |
---|---|---|---|
(MM) | NASDAQ:USMO | NASDAQ | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.74 | 0.00 | 01:00:00 |
Delaware | 001-32358 | 16-1694797 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
6850 Versar Center, Suite 420, Springfield, Virginia | 22151 | |
(Address of principal executive offices) | (Zip Code) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Exhibit | ||
No. | Description | |
99.1 | Spōk Holdings, Inc. Press Release dated July 30, 2014. |
Spōk Holdings, Inc. | |||||||||
July 30, 2014 | By: | /s/ Shawn E. Endsley | |||||||
Name: | Shawn E. Endsley | ||||||||
Title: | Chief Financial Officer |
Exhibit | ||
No. | Description | |
99.1 | Spōk Holdings, Inc. Press Release dated July 30, 2014. |
Exhibit 99.1 | ||
NEWS RELEASE | ![]() |
Bob Lougee | ||||
800-611-8488 | ||||
Bob.Lougee@spok.com |
• | Bookings for the second quarter increased to $19.0 million from $15.6 million in the year-earlier quarter, achieving a record high. |
• | Backlog totaled $40.2 million at June 30, 2014, compared to $39.6 million a year earlier. |
• | Of the $15.6 million in second quarter Software revenue, $8.1 million was operations revenue and $7.5 million was maintenance revenue, compared to $7.6 million and $6.9 million, respectively, of the $14.5 million in Software revenue for second quarter of 2013. |
• | The renewal rate for software maintenance in the second quarter was 99.5 percent. |
Spok.com | ![]() |
• | The quarterly rate of Wireless revenue erosion improved to 2.4 percent from 2.6 percent in the second quarter of 2013, while the annual rate of revenue erosion improved to 11.3 percent from 11.7 percent in the year-earlier quarter. |
• | Net paging unit losses were 28,000 in the second quarter versus 35,000 in the second quarter of 2013. The quarterly rate of unit erosion improved to 2.1 percent versus 2.4 percent a year earlier. Units in service at June 30, 2014 totaled 1,299,000, compared to 1,445,000 a year earlier. |
• | Total paging ARPU (average revenue per unit) was $7.98 in the second quarter, compared to $8.22 in the year-earlier quarter. |
• | Operating expenses (excluding depreciation, amortization and accretion) totaled $37.4 million in the second quarter, compared to $36.5 million in the year-earlier quarter. |
• | Capital expenses were $2.4 million, compared to $2.9 million in the second quarter of 2013. |
• | The number of full-time equivalent employees at June 30, 2014 totaled 615, compared to 659 at June 30, 2013. |
• | Dividends paid to stockholders totaled $2.7 million in the second quarter. |
• | The Company’s cash balance at June 30, 2014 was $97.0 million. |
Spok.com | ![]() |
Spok.com | ![]() |
Spok.com | ![]() |
SPOK HOLDINGS, INC. | ||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (a) | ||||||||||||||||
(Unaudited and in thousands except share, per share amounts and ARPU) | ||||||||||||||||
For the three months ended | For the six months ended | |||||||||||||||
6/30/2014 | 6/30/2013 | 6/30/2014 | 6/30/2013 | |||||||||||||
Revenue: | ||||||||||||||||
Wireless | $ | 33,518 | $ | 37,771 | $ | 67,869 | $ | 76,550 | ||||||||
Software | 15,576 | 14,497 | 31,344 | 28,848 | ||||||||||||
Total revenue | 49,094 | 52,268 | 99,213 | 105,398 | ||||||||||||
Operating expenses: | ||||||||||||||||
Cost of revenue | 7,180 | 6,961 | 13,985 | 13,628 | ||||||||||||
Service, rental and maintenance | 11,420 | 12,018 | 23,212 | 24,209 | ||||||||||||
Selling and marketing | 7,780 | 6,538 | 15,026 | 12,932 | ||||||||||||
General and administrative | 10,990 | 11,022 | 23,125 | 23,353 | ||||||||||||
Severance and restructuring | 4 | 2 | 24 | 2 | ||||||||||||
Depreciation, amortization and accretion | 4,352 | 3,822 | 8,381 | 7,629 | ||||||||||||
Total operating expenses | 41,726 | 40,363 | 83,753 | 81,753 | ||||||||||||
% of total revenue | 85.0 | % | 77.2 | % | 84.4 | % | 77.6 | % | ||||||||
Operating income | 7,368 | 11,905 | 15,460 | 23,645 | ||||||||||||
% of total revenue | 15.0 | % | 22.8 | % | 15.6 | % | 22.4 | % | ||||||||
Interest expense, net | (64 | ) | (64 | ) | (131 | ) | (128 | ) | ||||||||
Other (expense) income, net | (194 | ) | (75 | ) | (178 | ) | 6 | |||||||||
Income before income tax expense | 7,110 | 11,766 | 15,151 | 23,523 | ||||||||||||
Income tax expense | (2,819 | ) | (4,938 | ) | (5,970 | ) | (9,770 | ) | ||||||||
Net income | $ | 4,291 | $ | 6,828 | $ | 9,181 | $ | 13,753 | ||||||||
Basic net income per common share | $ | 0.20 | $ | 0.32 | $ | 0.42 | $ | 0.63 | ||||||||
Diluted net income per common share | $ | 0.19 | $ | 0.31 | $ | 0.42 | $ | 0.63 | ||||||||
Basic weighted average common shares outstanding | 21,642,163 | 21,644,281 | 21,640,191 | 21,666,096 | ||||||||||||
Diluted weighted average common shares outstanding | 22,099,791 | 21,827,149 | 22,073,254 | 21,921,742 | ||||||||||||
Reconciliation of operating income to EBITDA (b): | ||||||||||||||||
Operating income | $ | 7,368 | $ | 11,905 | $ | 15,460 | $ | 23,645 | ||||||||
Add back: depreciation, amortization and accretion | 4,352 | 3,822 | 8,381 | 7,629 | ||||||||||||
EBITDA | $ | 11,720 | $ | 15,727 | $ | 23,841 | $ | 31,274 | ||||||||
% of total revenue | 23.9 | % | 30.1 | % | 24.0 | % | 29.7 | % | ||||||||
Key statistics: | ||||||||||||||||
Units in service | 1,299 | 1,445 | 1,299 | 1,445 | ||||||||||||
Average revenue per unit (ARPU) | $ | 7.98 | $ | 8.22 | $ | 8.02 | $ | 8.24 | ||||||||
Bookings | $ | 18,959 | $ | 15,626 | $ | 35,880 | $ | 29,879 | ||||||||
Backlog | $ | 40,182 | $ | 39,576 | $ | 40,182 | $ | 39,576 | ||||||||
(a) Slight variations in totals are due to rounding. | ||||||||||||||||
(b) EBITDA or earnings before interest, taxes, depreciation, amortization and accretion is a non-GAAP measure and is | ||||||||||||||||
presented for analytical purposes only. |
SPOK HOLDINGS, INC. | ||||||||||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (a) | ||||||||||||||||||||||||
(Unaudited and in thousands except share, per share amounts and ARPU) | ||||||||||||||||||||||||
For the three months ended | ||||||||||||||||||||||||
6/30/2014 | 3/31/2014 | 12/31/2013 | 9/30/2013 | 6/30/2013 | 3/31/2013 | |||||||||||||||||||
Revenue: | ||||||||||||||||||||||||
Wireless | $ | 33,518 | $ | 34,351 | $ | 35,831 | $ | 37,067 | $ | 37,771 | $ | 38,779 | ||||||||||||
Software | 15,576 | 15,768 | 18,854 | 12,602 | 14,497 | 14,351 | ||||||||||||||||||
Total revenue | 49,094 | 50,119 | 54,685 | 49,669 | 52,268 | 53,130 | ||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Cost of revenue | 7,180 | 6,805 | 7,500 | 6,787 | 6,961 | 6,667 | ||||||||||||||||||
Service, rental and maintenance | 11,420 | 11,792 | 11,442 | 11,820 | 12,018 | 12,191 | ||||||||||||||||||
Selling and marketing | 7,780 | 7,246 | 7,297 | 6,388 | 6,538 | 6,394 | ||||||||||||||||||
General and administrative | 10,990 | 12,135 | 11,470 | 11,282 | 11,022 | 12,331 | ||||||||||||||||||
Severance and restructuring | 4 | 20 | 981 | — | 2 | — | ||||||||||||||||||
Depreciation, amortization and accretion | 4,352 | 4,029 | 3,680 | 3,858 | 3,822 | 3,807 | ||||||||||||||||||
Total operating expenses | 41,726 | 42,027 | 42,370 | 40,135 | 40,363 | 41,390 | ||||||||||||||||||
% of total revenue | 85.0 | % | 83.9 | % | 77.5 | % | 80.8 | % | 77.2 | % | 77.9 | % | ||||||||||||
Operating income | 7,368 | 8,092 | 12,315 | 9,534 | 11,905 | 11,740 | ||||||||||||||||||
% of total revenue | 15.0 | % | 16.1 | % | 22.5 | % | 19.2 | % | 22.8 | % | 22.1 | % | ||||||||||||
Interest expense, net | (64 | ) | (67 | ) | (64 | ) | (68 | ) | (64 | ) | (64 | ) | ||||||||||||
Other (expense) income, net | (194 | ) | 16 | 15 | 84 | (75 | ) | 81 | ||||||||||||||||
Income before income tax expense | 7,110 | 8,041 | 12,266 | 9,550 | 11,766 | 11,757 | ||||||||||||||||||
Income tax expense | (2,819 | ) | (3,151 | ) | (4,251 | ) | (3,788 | ) | (4,938 | ) | (4,832 | ) | ||||||||||||
Net income | $ | 4,291 | $ | 4,890 | $ | 8,015 | $ | 5,762 | $ | 6,828 | $ | 6,925 | ||||||||||||
Basic net income per common share | $ | 0.2 | $ | 0.23 | $ | 0.37 | $ | 0.27 | $ | 0.32 | $ | 0.32 | ||||||||||||
Diluted net income per common share | $ | 0.19 | $ | 0.22 | $ | 0.36 | $ | 0.26 | $ | 0.31 | $ | 0.32 | ||||||||||||
Basic weighted average common shares outstanding | 21,642,163 | 21,638,198 | 21,633,706 | 21,629,289 | 21,644,281 | 21,688,153 | ||||||||||||||||||
Diluted weighted average common shares outstanding | 22,099,791 | 22,037,796 | 21,969,756 | 21,919,238 | 21,827,149 | 21,904,862 | ||||||||||||||||||
Reconciliation of operating income to EBITDA (b): | ||||||||||||||||||||||||
Operating income | $ | 7,368 | $ | 8,092 | $ | 12,315 | $ | 9,534 | $ | 11,905 | $ | 11,740 | ||||||||||||
Add back: depreciation, amortization and accretion | 4,352 | 4,029 | 3,680 | 3,858 | 3,822 | 3,807 | ||||||||||||||||||
EBITDA | $ | 11,720 | $ | 12,121 | $ | 15,995 | $ | 13,392 | $ | 15,727 | $ | 15,547 | ||||||||||||
% of total revenue | 23.9 | % | 24.2 | % | 29.2 | % | 27.0 | % | 30.1 | % | 29.3 | % | ||||||||||||
Key statistics: | ||||||||||||||||||||||||
Units in service | 1,299 | 1,327 | 1,376 | 1,408 | 1,445 | 1,480 | ||||||||||||||||||
Average revenue per unit (ARPU) | $ | 7.98 | $ | 8.11 | $ | 8.15 | $ | 8.22 | $ | 8.22 | $ | 8.25 | ||||||||||||
Bookings | $ | 18,959 | $ | 16,921 | $ | 16,271 | $ | 17,302 | $ | 15,626 | $ | 14,253 | ||||||||||||
Backlog | $ | 40,182 | $ | 41,396 | $ | 40,211 | $ | 43,831 | $ | 39,576 | $ | 40,183 | ||||||||||||
(a) Slight variations in totals are due to rounding. | ||||||||||||||||||||||||
(b) EBITDA or earnings before interest, taxes, depreciation, amortization and accretion is a non-GAAP measure and is presented for | ||||||||||||||||||||||||
analytical purposes only. |
SPOK HOLDINGS, INC. | ||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS (a) | ||||||||
(In thousands) | ||||||||
6/30/2014 | 12/31/2013 | |||||||
(Unaudited) | ||||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 97,035 | $ | 89,075 | ||||
Accounts receivable, net | 22,964 | 18,084 | ||||||
Prepaid expenses and other | 6,681 | 7,399 | ||||||
Inventory | 2,070 | 2,221 | ||||||
Deferred income tax assets, net | 3,389 | 3,389 | ||||||
Total current assets | 132,139 | 120,168 | ||||||
Property and equipment, net | 20,936 | 21,122 | ||||||
Goodwill | 133,031 | 133,031 | ||||||
Other intangible assets, net | 22,653 | 25,368 | ||||||
Deferred income tax assets, net | 20,542 | 25,494 | ||||||
Other assets | 1,586 | 1,715 | ||||||
Total assets | $ | 330,887 | $ | 326,898 | ||||
Liabilities and stockholders' equity | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued liabilities | $ | 9,796 | $ | 9,885 | ||||
Accrued compensation and benefits | 11,287 | 13,919 | ||||||
Deferred revenue | 24,571 | 23,023 | ||||||
Total current liabilities | 45,654 | 46,827 | ||||||
Deferred revenue | 645 | 862 | ||||||
Other long-term liabilities | 9,231 | 9,259 | ||||||
Total liabilities | 55,530 | 56,948 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity: | ||||||||
Preferred stock | — | — | ||||||
Common stock | 2 | 2 | ||||||
Additional paid-in capital | 128,988 | 127,264 | ||||||
Retained earnings | 146,367 | 142,684 | ||||||
Total stockholders' equity | 275,357 | 269,950 | ||||||
Total liabilities and stockholders' equity | $ | 330,887 | $ | 326,898 | ||||
(a) Slight variations in totals are due to rounding. |
SPOK HOLDINGS, INC. | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (a) | ||||||||
(Unaudited and in thousands) | ||||||||
For the six months ended | ||||||||
6/30/2014 | 6/30/2013 | |||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 9,181 | $ | 13,753 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation, amortization and accretion | 8,381 | 7,629 | ||||||
Amortization of deferred financing costs | 129 | 129 | ||||||
Deferred income tax expense | 4,952 | 8,849 | ||||||
Amortization of stock based compensation | 1,710 | 1,254 | ||||||
Provisions for doubtful accounts, service credits and other | 597 | 833 | ||||||
Adjustments of non-cash transaction taxes | (229 | ) | (251 | ) | ||||
Loss on disposals of property and equipment | 3 | 167 | ||||||
Changes in assets and liabilities: | ||||||||
Accounts receivable | (5,478 | ) | 2,812 | |||||
Prepaid expenses and other assets | 850 | (367 | ) | |||||
Accounts payable, accrued liabilities and accrued compensation and benefits | (3,076 | ) | (7,578 | ) | ||||
Customer deposits and deferred revenue | 1,331 | (4,088 | ) | |||||
Net cash provided by operating activities | 18,351 | 23,142 | ||||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (5,036 | ) | (5,268 | ) | ||||
Proceeds from disposals of property and equipment | 59 | 9 | ||||||
Net cash used in investing activities | (4,977 | ) | (5,259 | ) | ||||
Cash flows from financing activities: | ||||||||
Cash dividends to stockholders | (5,414 | ) | (6,900 | ) | ||||
Net cash used in financing activities | (5,414 | ) | (6,900 | ) | ||||
Net increase in cash and cash equivalents | 7,960 | 10,983 | ||||||
Cash and cash equivalents, beginning of period | 89,075 | 61,046 | ||||||
Cash and cash equivalents, end of period | $ | 97,035 | $ | 72,029 | ||||
Supplemental disclosure: | ||||||||
Interest paid | $ | 3 | $ | 6 | ||||
Income taxes paid | $ | 884 | $ | 831 | ||||
(a) Slight variations in totals are due to rounding. |
SPOK HOLDINGS, INC. | ||||||||||||||||||||||||
CONSOLIDATED OPERATING EXPENSES | ||||||||||||||||||||||||
SUPPLEMENTAL INFORMATION (a) | ||||||||||||||||||||||||
(Unaudited and in thousands) | ||||||||||||||||||||||||
For the three months ended | ||||||||||||||||||||||||
6/30/2014 | 3/31/2014 | 12/31/2013 | 9/30/2013 | 6/30/2013 | 3/31/2013 | |||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||
Payroll and related | $ | 3,827 | $ | 3,959 | $ | 3,609 | $ | 3,744 | $ | 3,743 | $ | 3,709 | ||||||||||||
Cost of sales | 2,232 | 1,917 | 2,726 | 1,992 | 2,133 | 1,890 | ||||||||||||||||||
Stock based compensation | 81 | 81 | 74 | 64 | 49 | 49 | ||||||||||||||||||
Other | 1,040 | 848 | 1,091 | 987 | 1,036 | 1,019 | ||||||||||||||||||
Total cost of revenue | 7,180 | 6,805 | 7,500 | 6,787 | 6,961 | 6,667 | ||||||||||||||||||
Service, rental and maintenance | ||||||||||||||||||||||||
Site rent | 3,981 | 4,015 | 3,972 | 4,142 | 4,237 | 4,235 | ||||||||||||||||||
Telecommunications | 1,669 | 1,736 | 1,751 | 1,832 | 1,885 | 1,889 | ||||||||||||||||||
Payroll and related | 4,434 | 4,594 | 4,296 | 4,577 | 4,589 | 4,698 | ||||||||||||||||||
Stock based compensation | (17 | ) | 39 | 32 | 59 | 20 | 20 | |||||||||||||||||
Other | 1,353 | 1,408 | 1,391 | 1,210 | 1,287 | 1,349 | ||||||||||||||||||
Total service, rental and maintenance | 11,420 | 11,792 | 11,442 | 11,820 | 12,018 | 12,191 | ||||||||||||||||||
Selling and marketing | ||||||||||||||||||||||||
Payroll and related | 4,099 | 4,098 | 3,717 | 3,917 | 3,919 | 3,840 | ||||||||||||||||||
Commissions | 2,087 | 1,952 | 2,162 | 1,310 | 1,519 | 1,387 | ||||||||||||||||||
Stock based compensation | 131 | 131 | (24 | ) | 122 | 119 | 119 | |||||||||||||||||
Other | 1,463 | 1,065 | 1,442 | 1,039 | 981 | 1,048 | ||||||||||||||||||
Total selling and marketing | 7,780 | 7,246 | 7,297 | 6,388 | 6,538 | 6,394 | ||||||||||||||||||
General and administrative | ||||||||||||||||||||||||
Payroll and related | 4,440 | 4,796 | 4,802 | 4,696 | 5,074 | 5,414 | ||||||||||||||||||
Stock based compensation | 429 | 835 | 763 | 701 | 440 | 438 | ||||||||||||||||||
Bad debt | 134 | 86 | 262 | 274 | 265 | 275 | ||||||||||||||||||
Facility rent | 899 | 922 | 719 | 883 | 839 | 844 | ||||||||||||||||||
Telecommunications | 399 | 395 | 420 | 388 | 343 | 375 | ||||||||||||||||||
Outside services | 1,719 | 1,762 | 1,811 | 1,927 | 1,606 | 2,560 | ||||||||||||||||||
Taxes, licenses and permits | 1,383 | 1,064 | 1,358 | 1,106 | 1,166 | 1,233 | ||||||||||||||||||
Other | 1,587 | 2,275 | 1,335 | 1,307 | 1,289 | 1,192 | ||||||||||||||||||
Total general and administrative | 10,990 | 12,135 | 11,470 | 11,282 | 11,022 | 12,331 | ||||||||||||||||||
Severance and restructuring | 4 | 20 | 981 | — | 2 | — | ||||||||||||||||||
Depreciation, amortization and accretion | 4,352 | 4,029 | 3,680 | 3,858 | 3,822 | 3,807 | ||||||||||||||||||
Operating expenses | $ | 41,726 | $ | 42,027 | $ | 42,370 | $ | 40,135 | $ | 40,363 | $ | 41,390 | ||||||||||||
Capital expenditures | $ | 2,393 | $ | 2,643 | $ | 2,636 | $ | 2,504 | $ | 2,927 | $ | 2,341 | ||||||||||||
(a) Slight variations in totals are due to rounding. |
SPOK HOLDINGS, INC. | ||||||||||||||||||
UNITS IN SERVICE ACTIVITY (a) | ||||||||||||||||||
(Unaudited and in thousands) | ||||||||||||||||||
For the three months ended | ||||||||||||||||||
6/30/2014 | 3/31/2014 | 12/31/2013 | 9/30/2013 | 6/30/2013 | 3/31/2013 | |||||||||||||
Paging units in service | ||||||||||||||||||
Beginning units in service | ||||||||||||||||||
Direct one-way | 1,200 | 1,246 | 1,275 | 1,307 | 1,324 | 1,346 | ||||||||||||
Direct two-way | 69 | 69 | 70 | 73 | 73 | 75 | ||||||||||||
Total direct | 1,269 | 1,315 | 1,345 | 1,380 | 1,397 | 1,421 | ||||||||||||
Indirect one-way | 30 | 34 | 35 | 36 | 38 | 48 | ||||||||||||
Indirect two-way | 28 | 27 | 28 | 29 | 45 | 46 | ||||||||||||
Total indirect | 58 | 61 | 63 | 65 | 83 | 94 | ||||||||||||
Total beginning units in service | 1,327 | 1,376 | 1,408 | 1,445 | 1,480 | 1,515 | ||||||||||||
Gross placements | ||||||||||||||||||
Direct one-way | 48 | 34 | 32 | 40 | 49 | 39 | ||||||||||||
Direct two-way | 2 | 4 | 3 | 3 | 5 | 3 | ||||||||||||
Total direct | 50 | 38 | 35 | 43 | 54 | 42 | ||||||||||||
Indirect one-way | 1 | — | 1 | 1 | 1 | 1 | ||||||||||||
Indirect two-way | — | 1 | — | — | — | — | ||||||||||||
Total indirect | 1 | 1 | 1 | 1 | 1 | 1 | ||||||||||||
Total gross placements | 51 | 39 | 36 | 44 | 55 | 43 | ||||||||||||
Gross disconnects | ||||||||||||||||||
Direct one-way | (69 | ) | (80 | ) | (61 | ) | (72 | ) | (66 | ) | (61 | ) | ||||||
Direct two-way | (7 | ) | (4 | ) | (4 | ) | (6 | ) | (5 | ) | (5 | ) | ||||||
Total direct | (76 | ) | (84 | ) | (65 | ) | (78 | ) | (71 | ) | (66 | ) | ||||||
Indirect one-way | (2 | ) | (4 | ) | (2 | ) | (2 | ) | (3 | ) | (11 | ) | ||||||
Indirect two-way | (1 | ) | — | (1 | ) | (1 | ) | (16 | ) | (1 | ) | |||||||
Total indirect | (3 | ) | (4 | ) | (3 | ) | (3 | ) | (19 | ) | (12 | ) | ||||||
Total gross disconnects | (79 | ) | (88 | ) | (68 | ) | (81 | ) | (90 | ) | (78 | ) | ||||||
Net loss | ||||||||||||||||||
Direct one-way | (21 | ) | (46 | ) | (29 | ) | (32 | ) | (17 | ) | (22 | ) | ||||||
Direct two-way | (5 | ) | — | (1 | ) | (3 | ) | — | (2 | ) | ||||||||
Total direct | (26 | ) | (46 | ) | (30 | ) | (35 | ) | (17 | ) | (24 | ) | ||||||
Indirect one-way | (1 | ) | (4 | ) | (1 | ) | (1 | ) | (2 | ) | (10 | ) | ||||||
Indirect two-way | (1 | ) | 1 | (1 | ) | (1 | ) | (16 | ) | (1 | ) | |||||||
Total indirect | (2 | ) | (3 | ) | (2 | ) | (2 | ) | (18 | ) | (11 | ) | ||||||
Total net change | (28 | ) | (49 | ) | (32 | ) | (37 | ) | (35 | ) | (35 | ) | ||||||
Ending units in service | ||||||||||||||||||
Direct one-way | 1,179 | 1,200 | 1,246 | 1,275 | 1,307 | 1,324 | ||||||||||||
Direct two-way | 64 | 69 | 69 | 70 | 73 | 73 | ||||||||||||
Total direct | 1,243 | 1,269 | 1,315 | 1,345 | 1,380 | 1,397 | ||||||||||||
Indirect one-way | 29 | 30 | 34 | 35 | 36 | 38 | ||||||||||||
Indirect two-way | 27 | 28 | 27 | 28 | 29 | 45 | ||||||||||||
Total indirect | 56 | 58 | 61 | 63 | 65 | 83 | ||||||||||||
Total ending units in service | 1,299 | 1,327 | 1,376 | 1,408 | 1,445 | 1,480 | ||||||||||||
(a) Slight variations in totals are due to rounding. |
SPOK HOLDINGS, INC. | ||||||||||||||||||||||||
AVERAGE REVENUE PER UNIT (ARPU) AND CHURN (a) | ||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||
For the three months ended | ||||||||||||||||||||||||
6/30/2014 | 3/31/2014 | 12/31/2013 | 9/30/2013 | 6/30/2013 | 3/31/2013 | |||||||||||||||||||
Paging ARPU | ||||||||||||||||||||||||
Direct one-way | $ | 7.48 | $ | 7.59 | $ | 7.60 | $ | 7.64 | $ | 7.67 | $ | 7.73 | ||||||||||||
Direct two-way | 18.21 | 18.91 | 19.43 | 19.93 | 19.95 | 20.41 | ||||||||||||||||||
Total direct | 8.06 | 8.19 | 8.23 | 8.29 | 8.33 | 8.40 | ||||||||||||||||||
Indirect one-way | 8.18 | 8.22 | 8.68 | 8.90 | 8.97 | 8.22 | ||||||||||||||||||
Indirect two-way | 4.45 | 4.32 | 3.97 | 3.97 | 3.89 | 3.76 | ||||||||||||||||||
Total indirect | 6.39 | 6.37 | 6.47 | 6.57 | 6.31 | 5.85 | ||||||||||||||||||
Total one-way | 7.50 | 7.60 | 7.63 | 7.68 | 7.71 | 7.74 | ||||||||||||||||||
Total two-way | 14.22 | 14.70 | 14.90 | 15.20 | 14.40 | 13.96 | ||||||||||||||||||
Total paging ARPU | $ | 7.98 | $ | 8.11 | $ | 8.15 | $ | 8.22 | $ | 8.22 | $ | 8.25 | ||||||||||||
Gross disconnect rate (b) | ||||||||||||||||||||||||
Direct one-way | (5.7 | )% | (6.4 | )% | (4.7 | )% | (5.6 | )% | (5.0 | )% | (4.6 | )% | ||||||||||||
Direct two-way | (10.5 | )% | (5.6 | )% | (6.4 | )% | (7.9 | )% | (6.7 | )% | (6.6 | )% | ||||||||||||
Total direct | (6.0 | )% | (6.4 | )% | (4.8 | )% | (5.7 | )% | (5.1 | )% | (4.7 | )% | ||||||||||||
Indirect one-way | (6.8 | )% | (8.2 | )% | (6.1 | )% | (6.3 | )% | (7.4 | )% | (23.6 | )% | ||||||||||||
Indirect two-way | (2.7 | )% | (2.3 | )% | (5.7 | )% | (4.8 | )% | (34.0 | )% | (1.6 | )% | ||||||||||||
Total indirect | (4.8 | )% | (5.5 | )% | (5.9 | )% | (5.6 | )% | (22.3 | )% | (12.5 | )% | ||||||||||||
Total one-way | (5.8 | )% | (6.5 | )% | (4.8 | )% | (5.6 | )% | (5.1 | )% | (5.2 | )% | ||||||||||||
Total two-way | (8.3 | )% | (4.7 | )% | (6.2 | )% | (7.0 | )% | (17.3 | )% | (4.7 | )% | ||||||||||||
Total paging gross disconnect rate | (5.9 | )% | (6.3 | )% | (4.9 | )% | (5.7 | )% | (6.1 | )% | (5.2 | )% | ||||||||||||
Net loss rate (c) | ||||||||||||||||||||||||
Direct one-way | (1.9 | )% | (3.7 | )% | (2.1 | )% | (2.5 | )% | (1.3 | )% | (1.7 | )% | ||||||||||||
Direct two-way | (4.5 | )% | (0.6 | )% | (2.2 | )% | (3.6 | )% | (0.4 | )% | (1.9 | )% | ||||||||||||
Total direct | (2 | )% | (3.5 | )% | (2.1 | )% | (2.5 | )% | (1.3 | )% | (1.7 | )% | ||||||||||||
Indirect one-way | (4.8 | )% | (6.3 | )% | (3.9 | )% | (3.3 | )% | (4.7 | )% | (21.8 | )% | ||||||||||||
Indirect two-way | (2.2 | )% | (1.9 | )% | (4.9 | )% | (4.1 | )% | (33.7 | )% | (1.3 | )% | ||||||||||||
Total indirect | (3.5 | )% | (4.2 | )% | (4.4 | )% | (3.6 | )% | (21.0 | )% | (11.5 | )% | ||||||||||||
Total one-way | (2 | )% | (3.7 | )% | (2.2 | )% | (2.5 | )% | (1.4 | )% | (2.4 | )% | ||||||||||||
Total two-way | (3.8 | )% | (1.0 | )% | (3.0 | )% | (3.8 | )% | (13.3 | )% | (1.6 | )% | ||||||||||||
Total paging net loss rate | (2.1 | )% | (3.5 | )% | (2.2 | )% | (2.6 | )% | (2.4 | )% | (2.3 | )% | ||||||||||||
(a) Slight variations in totals are due to rounding. | ||||||||||||||||||||||||
(b) Gross disconnect rate is current period disconnected units divided by prior period ending units in service. | ||||||||||||||||||||||||
(c) Net loss rate is net current period placements and disconnected units in service divided by prior period ending units in service. |
SPOK HOLDINGS, INC. | ||||||||||||||||||
SUPPLEMENTAL INFORMATION BY MARKET SEGMENT (a) | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||
For the three months ended | ||||||||||||||||||
6/30/2014 | 3/31/2014 | 12/31/2013 | 9/30/2013 | 6/30/2013 | 3/31/2013 | |||||||||||||
Gross placement rate (b) | ||||||||||||||||||
Healthcare | 4.5 | % | 3.1 | % | 2.9 | % | 3.3 | % | 4.5 | % | 3.4 | % | ||||||
Government | 2.6 | % | 1.9 | % | 1.5 | % | 1.7 | % | 2.3 | % | 1.6 | % | ||||||
Large enterprise | 2.0 | % | 2.9 | % | 3.0 | % | 4.3 | % | 2.4 | % | 2.1 | % | ||||||
Other | 2.2 | % | 2.1 | % | 1.7 | % | 2 | % | 1.5 | % | 1.8 | % | ||||||
Total direct | 4.0 | % | 2.9 | % | 2.7 | % | 3.1 | % | 3.8 | % | 3.0 | % | ||||||
Total indirect | 1.3 | % | 1.2 | % | 1.5 | % | 1.9 | % | 1.4 | % | 1.0 | % | ||||||
Total | 3.9 | % | 2.8 | % | 2.7 | % | 3.1 | % | 3.7 | % | 2.9 | % | ||||||
Gross disconnect rate (b) | ||||||||||||||||||
Healthcare | (5.3 | )% | (6.5 | )% | (4.5 | )% | (5.2 | )% | (4.4 | )% | (3.9 | )% | ||||||
Government | (7.6 | )% | (5.6 | )% | (4.7 | )% | (7.9 | )% | (7.1 | )% | (5.9 | )% | ||||||
Large enterprise | (8.9 | )% | (5.4 | )% | (6.4 | )% | (6.0 | )% | (6.7 | )% | (7.0 | )% | ||||||
Other | (7.7 | )% | (6.5 | )% | (6.5 | )% | (6.5 | )% | (7.4 | )% | (7.3 | )% | ||||||
Total direct | (6.0 | )% | (6.4 | )% | (4.8 | )% | (5.7 | )% | (5.1 | )% | (4.7 | )% | ||||||
Total indirect | (4.8 | )% | (5.5 | )% | (5.9 | )% | (5.6 | )% | (22.3 | )% | (12.5 | )% | ||||||
Total | (5.9 | )% | (6.3 | )% | (4.9 | )% | (5.7 | )% | (6.1 | )% | (5.2 | )% | ||||||
Net loss rate (b) | ||||||||||||||||||
Healthcare | (0.8 | )% | (3.5 | )% | (1.5 | )% | (1.9 | )% | — | % | (0.5 | )% | ||||||
Government | (5.0 | )% | (3.6 | )% | (3.2 | )% | (6.3 | )% | (4.6 | )% | (4.3 | )% | ||||||
Large enterprise | (6.9 | )% | (2.5 | )% | (3.3 | )% | (1.6 | )% | (4.2 | )% | (4.9 | )% | ||||||
Other | (5.5 | )% | (4.4 | )% | (4.8 | )% | (4.5 | )% | (5.9 | )% | (5.5 | )% | ||||||
Total direct | (2.0 | )% | (3.5 | )% | (2.1 | )% | (2.5 | )% | (1.3 | )% | (1.7 | )% | ||||||
Total indirect | (3.5 | )% | (4.2 | )% | (4.4 | )% | (3.6 | )% | (21.0 | )% | (11.5 | )% | ||||||
Total | (2.1 | )% | (3.5 | )% | (2.2 | )% | (2.6 | )% | (2.4 | )% | (2.3 | )% | ||||||
End of period units in service % of total (b) | ||||||||||||||||||
Healthcare | 73.0 | % | 72.0 | % | 71.9 | % | 71.4 | % | 70.9 | % | 68.4 | % | ||||||
Government | 8.3 | % | 8.6 | % | 8.6 | % | 8.8 | % | 9.1 | % | 10.1 | % | ||||||
Large enterprise | 7.8 | % | 8.2 | % | 8.1 | % | 8.2 | % | 8.1 | % | 8.3 | % | ||||||
Other | 6.6 | % | 6.8 | % | 7.0 | % | 7.1 | % | 7.3 | % | 7.6 | % | ||||||
Total direct | 95.7 | % | 95.6 | % | 95.6 | % | 95.5 | % | 95.4 | % | 94.4 | % | ||||||
Total indirect | 4.3 | % | 4.4 | % | 4.4 | % | 4.5 | % | 4.6 | % | 5.6 | % | ||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | ||||||
(a) Slight variations in totals are due to rounding. | ||||||||||||||||||
(b) Changes in the classification of units in service are reflected in the quarter when such changes are identified. Such changes are | ||||||||||||||||||
then appropriately reflected in calculating the gross placement, gross disconnect and net loss rates. |
SPOK HOLDINGS, INC. | ||||||||||||||||||||||||
SUPPLEMENTAL INFORMATION - DIRECT PAGING UNITS IN SERVICE AND | ||||||||||||||||||||||||
CELLULAR ACTIVATIONS (a) | ||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||
For the three months ended | ||||||||||||||||||||||||
6/30/2014 | 3/31/2014 | 12/31/2013 | 9/30/2013 | 6/30/2013 | 3/31/2013 | |||||||||||||||||||
Account size ending units in service (000's) | ||||||||||||||||||||||||
1 to 3 units | 39 | 41 | 43 | 45 | 47 | 49 | ||||||||||||||||||
4 to 10 units | 23 | 24 | 25 | 26 | 28 | 29 | ||||||||||||||||||
11 to 50 units | 56 | 57 | 61 | 64 | 67 | 71 | ||||||||||||||||||
51 to 100 units | 38 | 41 | 42 | 43 | 45 | 47 | ||||||||||||||||||
101 to 1,000 units | 275 | 282 | 287 | 293 | 305 | 321 | ||||||||||||||||||
>1,000 units | 812 | 824 | 857 | 874 | 888 | 880 | ||||||||||||||||||
Total | 1,243 | 1,269 | 1,315 | 1,345 | 1,380 | 1,397 | ||||||||||||||||||
End of period units in service % of total direct | ||||||||||||||||||||||||
1 to 3 units | 3.1 | % | 3.2 | % | 3.2 | % | 3.3 | % | 3.4 | % | 3.5 | % | ||||||||||||
4 to 10 units | 1.8 | % | 1.9 | % | 1.9 | % | 2.0 | % | 2.0 | % | 2.1 | % | ||||||||||||
11 to 50 units | 4.5 | % | 4.5 | % | 4.6 | % | 4.8 | % | 4.8 | % | 5.1 | % | ||||||||||||
51 to 100 units | 3.1 | % | 3.2 | % | 3.2 | % | 3.2 | % | 3.2 | % | 3.4 | % | ||||||||||||
101 to 1,000 units | 22.1 | % | 22.3 | % | 21.9 | % | 21.8 | % | 22.1 | % | 23.0 | % | ||||||||||||
>1,000 units | 65.4 | % | 64.9 | % | 65.2 | % | 64.9 | % | 64.5 | % | 62.9 | % | ||||||||||||
Total | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | ||||||||||||
Account size net loss rate | ||||||||||||||||||||||||
1 to 3 units | (4.1 | )% | (4.9 | )% | (4.4 | )% | (4.6 | )% | (5.1 | )% | (4.8 | )% | ||||||||||||
4 to 10 units | (5.4 | )% | (4.1 | )% | (3.8 | )% | (5.3 | )% | (5.3 | )% | (6.0 | )% | ||||||||||||
11 to 50 units | (3.2 | )% | (5.3 | )% | (4.4 | )% | (3.9 | )% | (6.4 | )% | (4.8 | )% | ||||||||||||
51 to 100 units | (8.7 | )% | (1.2 | )% | (3.5 | )% | (2.8 | )% | (5.3 | )% | (4.0 | )% | ||||||||||||
101 to 1,000 units | (2.5 | )% | (1.7 | )% | (1.7 | )% | (4.0 | )% | (5.0 | )% | (3.9 | )% | ||||||||||||
>1,000 units | (1.2 | )% | (4.0 | )% | (1.8 | )% | (1.7 | )% | 1.1 | % | (0.2 | )% | ||||||||||||
Total | (2.0 | )% | (3.5 | )% | (2.1 | )% | (2.5 | )% | (1.3 | )% | (1.7 | )% | ||||||||||||
Account size ARPU | ||||||||||||||||||||||||
1 to 3 units | $ | 14.86 | $ | 14.96 | $ | 14.98 | $ | 15.13 | $ | 15.12 | $ | 15.22 | ||||||||||||
4 to 10 units | 14.12 | 14.22 | 14.29 | 14.38 | 14.29 | 14.33 | ||||||||||||||||||
11 to 50 units | 12 | 12.07 | 11.96 | 12.06 | 11.96 | 12.06 | ||||||||||||||||||
51 to 100 units | 10.18 | 10.27 | 10.34 | 10.66 | 10.42 | 10.47 | ||||||||||||||||||
101 to 1,000 units | 8.58 | 8.76 | 8.89 | 8.85 | 8.84 | 8.84 | ||||||||||||||||||
>1,000 units | 7 | 7.11 | 7.11 | 7.17 | 7.19 | 7.23 | ||||||||||||||||||
Total | $ | 8.06 | $ | 8.19 | $ | 8.23 | $ | 8.29 | $ | 8.33 | $ | 8.40 | ||||||||||||
Cellular: | ||||||||||||||||||||||||
Number of activations | 1,679 | 281 | 690 | 970 | 799 | 925 | ||||||||||||||||||
Revenue from cellular services (000's) | $ | 278 | $ | 108 | $ | 129 | $ | 235 | $ | 163 | $ | 195 | ||||||||||||
(a) Slight variations in totals are due to rounding. |
1 Year Usa Mobility Chart |
1 Month Usa Mobility Chart |
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