Intercloud 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."
Intercloud Systems awarded over $1.1M in professional service contracts InterCloud Systems said it was recently awarded over $1.1M in professional service contracts to support next generation networks from existing and new clients.