Internap Corporation (NASDAQ:INAP) Q3 2019 Earnings Conference Call - Final Transcript

Nov 12, 2019 • 08:30 am ET

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Internap Corporation (NASDAQ:INAP) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning, and welcome to the INAP Third Quarter 2019 Results Conference Call. [Operator Instructions] I would now like to turn the conference over to Richard Ramlall, Chief Communications Officer. Please go ahead.

Executive
Richard Ramlall

Good morning, and thank you for joining us today. I'm joined by Peter Aquino, our Chief Executive Officer; and Mike Sicoli, our President and Chief Financial Officer. Following prepared remarks, we will open up the call for your questions. The presentation and earnings release we reference in the call are available on our Investor Relations page on INAP's website.

Today's call contains forward-looking statements as described in Page 2 of the presentation. These statements are not guarantees of future performance. Actual results may differ materially from these forward-looking statements due to assumptions, risks and uncertainties that are described in more detail in our filing with the SEC. We undertake no obligation to amend, update or clarify these forward-looking statements made as of today, November 12, 2019.

During this call, we will also present non-GAAP financial measures, which were not prepared in accordance with GAAP. A reconciliation of non-GAAP measures to the most directly comparable GAAP measures are included in today's earnings press release. Management believes that our presentation of non-GAAP financial measures provides useful supplemental information to investors regarding our results of operations and our non-GAAP financial measures should only be considered in addition to and not as a substitute for or superior to any GAAP measure.

Now, let me turn the call over to Peter Aquino. Pete?

Executive
Peter D. Aquino

Thank you, Richard, and good morning, everyone. Let's turn to Slide 4 for our opening remarks. We had a solid third quarter with clear signs that we have settled in on a consistent run rate in operating performance. We are now on a good trajectory as we head into the final months of 2019 and into 2020. After several quarters of hard work on improving our data center portfolio, we're now set up for the next stage at INAP. On a normalized basis, the third quarter was fairly consistent with the second quarter, which gives us confidence that operations are on the right track.

During the quarter, the sales team inked new business across multiple markets. For example, we're pleased to report that we re-signed our multi-megawatt anchor tenant into a long-term deal in our Phoenix flagship. We also added Lions Gate this quarter to that site as part of their multi-site strategy. With our attractive metro footprint on the edge, we are partnering with our customers to offer solutions in both primary and Disaster Recovery backup sites.

Today, we will also provide some color on our strategic initiatives as we zeroed in on a few actionable items. There are multiple opportunities under discussion as we speak. As you can appreciate, we cannot go into much detail on these specific transactions and make no guarantees of their outcomes. However, I can assure you that we are aligned with shareholders and engaged on these initiatives, including the sale of certain non-core