Premiere Global Releases Earnings, Profit Drops to $4.8M

Press release from the issuing company

Monday, February 28th, 2011

Premiere Global Services, Inc., a global leader in virtual meetings, today announced results for the fourth quarter and fiscal year ended December 31, 2010.

In the fourth quarter of 2010, net revenues totaled $108.8 million, diluted EPS from continuing operations was ($0.01) and non-GAAP diluted EPS from continuing operations was $0.10.* In the fourth quarter of 2009, net revenues totaled $108.0 million, diluted EPS from continuing operations was $0.07, and non-GAAP diluted EPS from continuing operations was $0.15.* Results for 2009 are reclassified to reflect the PGiSend business, which was sold in October 2010, as discontinued operations. (See our current report on Form 8-K, filed this afternoon, for pro forma results from continuing operations, excluding the PGiSend business.)

"We exited 2010 as a singularly focused virtual meetings company, with a return to revenue growth," said Boland T. Jones, PGi founder, chairman and CEO. "We are pleased with the early response to our new iMeet®and GlobalMeet®solutions. With good momentum in customer orders and solid pipelines developing for both products, along with improving trends in our base business, we remain optimistic about the year ahead."