Business Summary
Internap Corporation provides information technology (IT) infrastructure services. It operates through two business segments, Data Center Services and Internet Protocol (IP) Services. The Data Center Services segment provides colocation services comprising physical space within data centers and associated services, such as power, interconnection, environmental controls, monitoring, and security. It also offers hosting and cloud services, which include the provision and maintenance of hardware, operating system software, management and monitoring software, and data center infrastructure and interconnection that enables its customers to own and manage their software applications and content. This segment provides its services through approximately 52 data centers in North America, Europe, and the Asia-Pacific region. The IP Services segment offers patented Performance IP service, and IP routing hardware and software platform. It also offers content delivery network services that enable its customers to stream and distribute media and content, such as video, audio software, and applications to audiences through points of presence, as well as offers capacity-on-demand services to handle events and unanticipated traffic spikes. This segment provides its services through approximately 88 IP service points worldwide. The company serves various industries, which include software and the Internet, including advertising technology; media and entertainment, including gaming; business services; hosting and IT infrastructure; health care technology infrastructure; and telecommunications. The company was formerly known as Internap Network Services Corporation and changed its name to Internap Corporation in November 2014. Internap Corporation was founded in 1996 and is headquartered in Atlanta, Georgia.
Valuation Measures
|
Market Cap |
499.94M |
|
Enterprise Value |
853.03M |
|
Trailing P/E |
N/A |
|
Price/Sales (ttm) |
1.44 |
|
Price/Book (mrq) |
3.36 |
|
Enterprise Value/Revenue (ttm) |
2.56 |
|
Enterprise Value/EBITDA (ttm) |
14.28 |
Share Statistics
|
Avg Vol (3 month) |
264,459 |
|
Avg Vol (10 day) |
163,925 |
|
Shares Outstanding |
54.28M |
|
Float |
46.51M |
|
% Held by Insiders1 |
22.47% |
|
% Held by Institutions1 |
62.10% |
|
Shares Short (as of Nov 14, 2014) |
2.48M |
|
Return on Assets (ttm) |
-1.04% |
|
Return on Equity (ttm) |
-24.79% |
|
Fiscal Year Ends |
Dec-15 |
|
Most Recent Quarter (mrq) |
Mar-15 |
Estimates
|
Estimates |
Current Year |
Next Year |
|
Dec-15 |
Dec-15 |
| Earnings Est |
-0.56 |
-0.19 |
| Revenue Est |
332.93M |
356.91M |
Key Executives
|
0 |
Mr. Michael A. Ruffolo , 53 |
|
1 |
Chief Exec. Officer, Pres, Director, Member of Nominations and Governance Committee and Member of Compensation Committee |
|
2 |
Mr. Kevin Mark Dotts , 51 |
|
3 |
Chief Financial Officer, Principal Accounting Officer and Sr. VP |
|
4 |
Mr. Peter George Bell , 55 |
|
5 |
Sr. VP of Global Sales |
|
6 |
Mr. Steven A. Orchard , 43 |
|
7 |
Sr. VP and Gen. Mang. of Data Center & Network Services |
|
8 |
Ms. Tashia L. Rivard , 45 |
|
9 |
Sr. VP of Legal Services and Corp. Sec. |
Income statement (Annual)
|
Period Ending |
29.09.2012 |
28.09.2013 |
27.09.2014 |
| Total Revenue |
273,592 |
283,342 |
334,959 |
| Cost of Revenue |
162,336 |
166,666 |
187,668 |
| Gross Profit |
111,256 |
116,676 |
147,291 |
| Operating Expenses |
- |
- |
- |
| Research Development |
69,978 |
74,559 |
81,747 |
| Selling General and Administrative |
1,422 |
1,414 |
4,520 |
| Non Recurring |
36,147 |
48,181 |
75,251 |
| Others |
0 |
0 |
0 |
| Total Operating Expenses |
- |
- |
- |
| Operating Income or Loss |
3,764 |
-7,487 |
-14,339 |
| Income from Continuing Operations |
|
|
|
| Total Other Income/Expenses Net |
-228 |
-1,504 |
-145 |
| Earnings Before Interest And Taxes |
3,481 |
-8,982 |
-14,372 |
| Interest Expense |
7,566 |
11,346 |
26,742 |
| Income Before Tax |
-4,085 |
-20,328 |
-41,114 |
| Income Tax Expense |
453 |
-285 |
-1,361 |
| Minority Interest |
- |
- |
- |
| Net Income From Continuing Ops |
-4,318 |
-20,711 |
-39,494 |
| Non-recurring Events |
|
|
|
| Discontinued Operations |
- |
- |
- |
| Extraordinary Items |
- |
- |
- |
| Effect Of Accounting Changes |
- |
- |
- |
| Other Items |
- |
- |
- |
| Net Income |
-4,318 |
-19,830 |
-39,494 |
| Preferred Stock And Other Adjustments |
- |
- |
- |
| Net Income Applicable To Common Shares |
-4,318 |
-19,830 |
-39,494 |
Income statement (Quarterly)
|
Period Ending |
27.09.2014 |
27.12.2014 |
28.03.2015 |
27.06.2015 |
| Total Revenue |
84,068 |
84,667 |
84,263 |
80,786 |
| Cost of Revenue |
47,667 |
47,784 |
46,069 |
43,614 |
| Gross Profit |
36,401 |
36,883 |
38,194 |
37,172 |
| Operating Expenses |
|
|
|
|
| Research Development |
- |
- |
- |
- |
| Selling General and Administrative |
21,405 |
20,471 |
18,370 |
21,968 |
| Non Recurring |
1,561 |
56 |
1,519 |
265 |
| Others |
17,917 |
19,391 |
20,478 |
19,058 |
| Total Operating Expenses |
- |
- |
- |
- |
| Operating Income or Loss |
-4,514 |
-3,035 |
-2,253 |
-4,119 |
| Income from Continuing Operations |
|
|
|
|
| Total Other Income/Expenses Net |
-414 |
148 |
222 |
530 |
| Earnings Before Interest And Taxes |
-4,896 |
-2,887 |
-1,951 |
-3,589 |
| Interest Expense |
6,806 |
6,699 |
6,746 |
6,865 |
| Income Before Tax |
-11,702 |
-9,586 |
-8,697 |
-10,454 |
| Income Tax Expense |
-436 |
-129 |
-379 |
27 |
| Minority Interest |
- |
- |
- |
- |
| Net Income From Continuing Ops |
-11,186 |
-9,376 |
-8,257 |
-10,442 |
| Non-recurring Events |
|
|
|
|
| Discontinued Operations |
- |
- |
- |
- |
| Extraordinary Items |
- |
- |
- |
- |
| Effect Of Accounting Changes |
- |
- |
- |
- |
| Other Items |
- |
- |
- |
- |
| Net Income |
-11,186 |
-9,376 |
-8,257 |
-10,442 |
| Preferred Stock And Other Adjustments |
- |
- |
- |
- |
| Net Income Applicable To Common Shares |
-11,186 |
-9,376 |
-8,257 |
-10,442 |
Peer Comparison
|
|
AAPL |
BBRY |
GOOG |
HPQ |
Industry |
| Market Cap |
499.94M |
180.40B |
17.90B |
N/A |
567.86M |
| Employees |
700 |
250,730 |
13,500 |
N/A |
2.90K |
| Qtrly Rev Growth (yoy) |
-1.0% |
1.0% |
28.0% |
N/A |
12.0% |
| Revenue (ttm) |
333.78M |
132.99B |
7.22B |
N/A |
649.27M |
| Gross Margin (ttm) |
46.0% |
53.0% |
45.0% |
N/A |
29.0% |
| EBITDA (ttm) |
59.74M |
30.02B |
2.11B |
N/A |
33.34M |
| Operating Margin (ttm) |
-3.0% |
10.0% |
17.0% |
N/A |
7.0% |
| Net Income (ttm) |
-39.26M |
5.27B |
324.00M |
N/A |
N/A |
| EPS (ttm) |
-0.77 |
1.01 |
1.13 |
N/A |
0.36 |
| P/E (ttm) |
N/A |
34.29 |
44.77 |
N/A |
20.71 |
| PEG (5 yr expected) |
-1.52 |
3.68 |
0.65 |
N/A |
1.52 |
| P/S (ttm) |
1.44 |
1.36 |
2.46 |
N/A |
1.12 |
Upcoming Events
|
Date |
Event |
| 8/4/2015 |
Earnings announcement |
Recent Events
|
Date |
Event |
| 6/19/2015 |
Coverage initiated on InterNAP by Oppenheimer |
| 6/8/2015 |
INTERNAP CORP Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits |
| 6/1/2015 |
INTERNAP CORP Files SEC form 8-K, Submission of Matters to a Vote of Security Holders |
| 5/7/2015 |
INTERNAP CORP Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits |
| 4/28/2015 |
INTERNAP CORP Files SEC form 8-K, Results of Operations and Financial Condition, Change in Directors or Principal Off |
| 2/19/2015 |
INTERNAP CORP Files SEC form 8-K, Results of Operations and Financial Condition, Change in Directors or Principal Off |
| 11/25/2014 |
INTERNAP CORP Files SEC form 8-K, Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financial Statemen |
| 11/6/2014 |
INTERNAP NETWORK SERVICES CORP Files SEC form 8-K, Other Events |
Major Direct Holders
|
Major Direct Holders |
Shares |
Reported |
| COONEY JAMES ERIC |
923,288 |
Mar-15 |
| RUFFOLO MICHAEL |
376,353 |
May-15 |
| WILSON DEBORA J |
137,374 |
May-15 |
| DOTTS KEVIN M |
127,383 |
Feb-15 |
| STANZIONE DANIEL |
100,132 |
May-15 |
Top Institutional Holders
|
Top Institutional Holders |
Shares |
% Out |
Value* |
Reported |
| Kornitzer Capital Management, Inc. |
3,629,024 |
6.60 |
33,568,472 |
Jun-15 |
| Dimensional Fund Advisors LP |
3,146,897 |
5.72 |
32,192,756 |
Mar-15 |
| Gabelli Funds, LLC |
2,444,669 |
4.45 |
25,008,963 |
Mar-15 |
| Vanguard Group, Inc. (The) |
1,901,493 |
3.46 |
19,452,273 |
Mar-15 |
| Bank of Montreal/Can/ |
1,816,659 |
3.30 |
18,584,421 |
Mar-15 |
| Cortina Asset Management, LLC |
1,726,798 |
3.14 |
17,665,143 |
Mar-15 |
| BlackRock Institutional Trust Company, N.A. |
1,681,776 |
3.06 |
17,204,568 |
Mar-15 |
| LMCG Investments, LLC |
1,636,914 |
2.98 |
16,745,630 |
Mar-15 |
| Avenir Corporation/DC |
7,898,900 |
14.37 |
80,805,747 |
Mar-15 |
| Gamco Investors Inc |
6,758,608 |
12.30 |
69,140,559 |
Mar-15 |
Balance sheet (Annual)
|
Period Ending |
29.09.2012 |
28.09.2013 |
27.09.2014 |
| Cash And Cash Equivalents |
28,553 |
35,018 |
20,084 |
| Short Term Investments |
- |
- |
- |
| Net Receivables |
19,035 |
24,298 |
20,239 |
| Inventory |
- |
- |
- |
| Other Current Assets |
13,438 |
22,533 |
12,276 |
| Total Current Assets |
61,026 |
81,849 |
52,599 |
| Long Term Investments |
3,000 |
2,602 |
2,622 |
| Property Plant and Equipment |
248,095 |
331,963 |
342,145 |
| Goodwill |
59,605 |
130,387 |
130,313 |
| Intangible Assets |
21,342 |
57,699 |
52,545 |
| Accumulated Amortization |
- |
- |
- |
| Other Assets |
5,735 |
7,999 |
9,923 |
| Deferred Long Term Asset Charges |
1,909 |
1,742 |
1,637 |
|
|
|
|
| Total Assets |
400,712 |
614,241 |
591,784 |
|
|
|
|
| Liabilities |
|
|
|
| Current Liabilities |
|
|
|
| Accounts Payable |
33,544 |
43,323 |
43,709 |
| Short/Current Long Term Debt |
7,765 |
7,102 |
8,903 |
| Other Current Liabilities |
5,668 |
11,508 |
10,744 |
| Total Current Liabilities |
46,977 |
61,933 |
63,356 |
| Long Term Debt |
136,167 |
338,794 |
350,143 |
| Other Liabilities |
4,268 |
4,292 |
6,529 |
| Deferred Long Term Liability Charges |
17,695 |
27,012 |
21,420 |
| Minority Interest |
- |
- |
- |
| Negative Goodwill |
- |
- |
- |
|
|
|
|
| Total Liabilities |
205,107 |
432,031 |
441,448 |
|
|
|
|
| Stockholders' Equity |
|
|
|
| Misc Stocks Options Warrants |
- |
- |
- |
| Redeemable Preferred Stock |
- |
- |
- |
| Preferred Stock |
- |
- |
- |
| Common Stock |
54 |
54 |
54 |
| Retained Earnings |
-1,046,190 |
-1,066,020 |
-1,105,514 |
| Treasury Stock |
-1,845 |
-3,474 |
-4,683 |
| Capital Surplus |
1,243,801 |
1,253,106 |
1,262,402 |
| Other Stockholder Equity |
-215 |
-1,456 |
-1,923 |
| Total Stockholder Equity |
195,605 |
182,210 |
150,336 |
|
|
|
|
| Net Tangible Assets |
114,658 |
-5,876 |
-32,522 |
Balance sheet (Quarterly)
|
Period Ending |
27.09.2014 |
27.12.2014 |
28.03.2015 |
27.06.2015 |
| Cash And Cash Equivalents |
27,863 |
25,493 |
20,084 |
16,219 |
| Short Term Investments |
- |
- |
- |
- |
| Net Receivables |
19,013 |
20,440 |
20,239 |
21,341 |
| Inventory |
- |
- |
- |
- |
| Other Current Assets |
15,467 |
14,224 |
12,276 |
13,218 |
| Total Current Assets |
62,343 |
60,157 |
52,599 |
50,778 |
| Long Term Investments |
2,737 |
2,757 |
2,622 |
2,648 |
| Property Plant and Equipment |
338,015 |
339,421 |
342,145 |
338,711 |
| Goodwill |
130,313 |
130,313 |
130,313 |
130,313 |
| Intangible Assets |
54,969 |
53,487 |
52,545 |
50,991 |
| Accumulated Amortization |
- |
- |
- |
- |
| Other Assets |
9,432 |
10,039 |
9,923 |
10,405 |
| Deferred Long Term Asset Charges |
1,629 |
1,615 |
1,637 |
1,477 |
|
|
|
|
|
| Total Assets |
599,438 |
597,789 |
591,784 |
585,323 |
|
|
|
|
|
| Liabilities |
|
|
|
|
| Current Liabilities |
|
|
|
|
| Accounts Payable |
37,765 |
45,270 |
43,709 |
33,319 |
| Short/Current Long Term Debt |
7,771 |
8,130 |
8,903 |
9,159 |
| Other Current Liabilities |
12,666 |
11,542 |
10,744 |
10,736 |
| Total Current Liabilities |
58,202 |
64,942 |
63,356 |
53,214 |
| Long Term Debt |
347,619 |
346,469 |
350,143 |
361,127 |
| Other Liabilities |
5,980 |
7,164 |
6,529 |
7,233 |
| Deferred Long Term Liability Charges |
23,117 |
22,098 |
21,420 |
20,953 |
| Minority Interest |
- |
- |
- |
- |
| Negative Goodwill |
- |
- |
- |
- |
|
|
|
|
|
| Total Liabilities |
434,918 |
440,673 |
441,448 |
442,527 |
|
|
|
|
|
| Stockholders' Equity |
|
|
|
|
| Misc Stocks Options Warrants |
- |
- |
- |
- |
| Redeemable Preferred Stock |
- |
- |
- |
- |
| Preferred Stock |
- |
- |
- |
- |
| Common Stock |
54 |
54 |
54 |
55 |
| Retained Earnings |
-1,087,881 |
-1,097,257 |
-1,105,514 |
-1,115,956 |
| Treasury Stock |
-4,159 |
-4,218 |
-4,683 |
-5,301 |
| Capital Surplus |
1,258,072 |
1,260,026 |
1,262,402 |
1,266,634 |
| Other Stockholder Equity |
-1,566 |
-1,489 |
-1,923 |
-2,636 |
| Total Stockholder Equity |
164,520 |
157,116 |
150,336 |
142,796 |
|
|
|
|
|
| Net Tangible Assets |
-20,762 |
-26,684 |
-32,522 |
-38,508 |
Address
|
company |
One Ravinia Drive |
|
address |
Suite 1300 |
|
city_state_zip |
Atlanta, GA 30346 |
|
phone |
404-302-9700 |
Business Summary
Internap Corporation provides information technology (IT) infrastructure services. It operates through two business segments, Data Center Services and Internet Protocol (IP) Services. The Data Center Services segment provides colocation services comprising physical space within data centers and associated services, such as power, interconnection, environmental controls, monitoring, and security. It also offers hosting and cloud services, which include the provision and maintenance of hardware, operating system software, management and monitoring software, and data center infrastructure and interconnection that enables its customers to own and manage their software applications and content. This segment provides its services through approximately 52 data centers in North America, Europe, and the Asia-Pacific region. The IP Services segment offers patented Performance IP service, and IP routing hardware and software platform. It also offers content delivery network services that enable its customers to stream and distribute media and content, such as video, audio software, and applications to audiences through points of presence, as well as offers capacity-on-demand services to handle events and unanticipated traffic spikes. This segment provides its services through approximately 88 IP service points worldwide. The company serves various industries, which include software and the Internet, including advertising technology; media and entertainment, including gaming; business services; hosting and IT infrastructure; health care technology infrastructure; and telecommunications. The company was formerly known as Internap Network Services Corporation and changed its name to Internap Corporation in November 2014. Internap Corporation was founded in 1996 and is headquartered in Atlanta, Georgia.
