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Stock Market & Financial Investment News

News Breaks
April 8, 2014
09:17 EDTICLDIntercloud Systems reports Q4 EPS with items ($3.24) vs. (91c) a year ago
Reports Q4 revenue $11.8M vs. $11.2M a year ago. InterCloud eliminated approximately $12M in preferred stock obligations and other liabilities during Q4 and total charges related to derivative liabilities resulted in a $13.7M expense to Q4 net loss. The increases to the derivative liabilities were primarily as a result of increases in the company's stock price and were non-cash items. CEO Mark Munro stated: "In addition to substantially improving our pro-forma adjusted EBITDA, we are pleased with the improvements to our balance sheet. With our improved operations, we were able to eliminate the remaining outstanding convertible preferred stock and other indebtedness that the company incurred as part of its earlier growth stage, thereby streamlining our balance sheet."
News For ICLD From The Last 14 Days
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August 21, 2015
08:20 EDTICLDIntercloud Systems announces new business backlog of over $38M
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August 17, 2015
07:53 EDTICLDIntercloud Systems secures new $9M-$15M professional services contract
InterCloud Systems announced that it has been selected by one of the world's largest Tier 1 communications service providers based in the United States as a prime vendor to deliver outsourced professional services and support for their wireline and wireless next generation voice, data, and transport infrastructure solutions. The selection process was based on delivery capabilities, geographic reach, technology support capabilities, and performance evaluations. The contract term is for three years with two one-year options, and is projected to be worth at least $9M during the base term, with expansion to over $15M. The contract award is effective immediately and transition of services is currently underway.

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