Raindance Press Releases:
Web Conferencing Provider Located in Louisville Colorado
West Corporation Completes Raindance Acquisition and Updates 2006 Guidance
(April 06, 2006 ) OMAHA, Neb., /PRNewswire-FirstCall/ -- West Corporation , a leading provider of outsourced communication solutions, today announced it has completed the acquisition of Raindance Communications Inc. , a leader in integrated multimedia conferencing services and support. Raindance shareholders approved the acquisition on April 4. Pursuant to the merger agreement signed on February 6, 2006, West paid $2.70 per Raindance share in cash. Raindance will become part of West's Conferencing Services segment, and Raindance products and services will be integrated into the InterCall suite of products.
"We are pleased to welcome Raindance employees and clients to InterCall," said J. Scott Etzler, President of InterCall. "We look forward to the integration of the Raindance products and team and the enhancement of our product offering as a result of this combination."
To finance the
Intrado and Raindance acquisitions, West expanded its revolving credit facility to $800 million from $400 million. The Company will borrow approximately $600 million against its credit facility and have a total of approximately $760 million outstanding after funding acquisition costs. The current variable interest rate on the credit facility is 5.5 percent.
As a result of the closing of the Intrado and Raindance acquisitions, the Company now anticipates the following results for the year ended December 31, 2006. This guidance assumes no additional acquisitions or changes in the current operating environment.
Consolidated Financial Outlook
Original(1) Updated Guidance
Revenue $1,650 - $1,700 $1,830 - $1,880
Operating Margin 16.5% - 17.0% 16.5% - 17.0%
Net Income $150 - $160 $155 - $165
Cash Flow from Operations $270 - $290 $315 - $335
Capital Expenditures $75 - $85 $83 - $96
Financial Outlook by Segment
Revenue
Original(1) Revised(2) Intrado Raindance Updated
Guidance
Communications
Services $915 - $940 $910 - $930 $110 - $120 NA $1,020 - $1,050
Conferencing
Services $490 - $515 $515 - $540 NA $55 - $60 $570 - $600
Receivables
Management $235 - $250 $240 - $255 NA NA $240 - $255
Consolidated $1,650 - $1,700 NA NA NA $1,830 - $1,880
Operating Margin
Original(1) Intrado Raindance Updated Guidance
Communications
Services 12.0% - 13.0% 13.5% - 14.5% NA 12.0% - 13.0%
Conferencing
Services 21.5% - 22.5% NA 16.0% - 18.0% 21.5% - 22.5%
Receivables
Management 17.5% - 18.5% NA NA 18.0% - 20.0%
Consolidated 16.5% - 17.0% NA NA 16.5% - 17.0%
In millions, except margin
(1) As issued on December 14, 2005
(2) Revised outlook prior to Intrado and Raindance acquisitions
Raindance Introduces Internet Audio Broadcasting for Cost-effective, Hassle-free Delivery of Live Web Events
Additional Enhancements Increase the Flexibility of Event Registration and Ease Site Administration
(January 23rd 2006) Louisville, Colo., - Raindance Communications, Inc. (NASDAQ: RNDC), the leader in integrated multimedia conferencing services and support, today introduced internet audio broadcasting, or webcasting, to its suite of multimedia conferencing services. The new webcasting feature allows participants to sit back and experience web, audio and video of a live event without picking up the phone, while retaining rich interactivity through the suite of online tools available to them. Webcasting also enables event hosts to deliver their message at a fraction of the cost of a traditional, operator-assisted teleconference with its list price of only $.05 per minute.
With this release, Raindance also introduced new features to increase the flexibility and customization of event registration and ease site administration through detailed reporting. These new features are available to all existing Raindance users the next time they login to the service.
"These enhancements to event management and execution will help our users customize the registration process and more efficiently handle in-event activities," said Don Detampel, chief executive officer of Raindance. "Specifically, our new webcasting feature will enable customers to broaden the reach of their online seminars and significantly reduce their costs by distributing large events solely over the web."
Key Feature Enhancements
With these enhancements, Raindance users now have increased in-meeting functionality and post-meeting management and reporting:
Pre- and Post-Meeting
Pre-registration and role pre-assignment: Moderators now have the ability to pre-register participants for all registration-required events and assign roles in advance of the event. List filtering and filtered list URLs: Moderators can filter a list of scheduled events by keyword, date and file type and produce a customized URL to direct invitees to a specific event or list of events. Registration field chooser: Moderators can completely customize registration fields, making it easy to pre-qualify attendees or streamline registration by only collecting basic information.
In Meeting
Webcasting: Participants can listen to live multimedia events through their computer speakers with a host of interactive tools available at their fingertips and at a fraction of the cost of operator-assisted teleconferencing. Waiting room: Before and during the meeting, moderators are provided a real-time view of all participants in queue who have been denied access to an event with the ability to enter them into the meeting in real-time. Chat improvements: Enhancements to the chat interface offer expanded options for communicating to moderators and co-moderators as well as clear visible confirmation of chat messages sent and received.
Site Administration and Security
Improved reporting: Site administrators are provided greater insight into their service usage through enhanced reports that present detailed information in a consolidated, user-friendly format. Stronger password and security: Both administrators and moderators can conduct web events with greater piece of mind knowing that meeting content is safer than ever due to improved password protection and increased security functions.
About Raindance Communications
Raindance Communications, Inc. (NASDAQ: RNDC), the leader in integrated multimedia conferencing services and support, brings an entirely new level of simplicity and interaction to remote meetings and events. Its suite of best-in-class services, Raindance Seminar Edition and Raindance Meeting Edition, redefine the everyday meeting experience. Thousands of corporate customers currently use Raindance's technology to more effectively communicate with colleagues, vendors, customers and partners around the world. For more information, please visit www.raindance.com or call 800.878.7326.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements, including expectations regarding future company and service performance, market acceptance and customer adoption of this newly announced feature and increased use of our services. These statements are subject to risks and uncertainties, which could cause future events to differ materially. These risks and uncertainties include the failure or interruptions in the software, systems or network underlying Raindance's services, competition from presently existing and new competitors, price pressure, and difficulties adopting new customers and increasing customer usage our services. Additional information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements can be found in Raindance Communications' filings with the Securities and Exchange Commission. Copies of filings made with the SEC are available through the SEC's electronic data gather analysis and retrieval system (EDGAR) at http://www.sec.gov. Raindance Communications assumes no obligation to update the forward-looking statements included in this document.
Raindance, Raindance Communications, SwitchTower and OpenGo and our logo are trademarks or registered trademarks of Raindance Communications, Inc. All other company names and products may be trademarks of their respective companies.
|