Science & Technology
Science and Technology
Science and Technology
Wed, August 4, 2010
Tue, August 3, 2010 
MINNEAPOLIS--([ BUSINESS WIRE ])--Multiband Corporation, (NASDAQ:MBND), a leading Home Service Provider (HSP) for DIRECTV and the nation's largest DIRECTV Master System Operator (MSO) for Multiple Dwelling Units (MDUa™s), today announced that it expects second quarter 2010 EBITDA(1) for the period ended June 30, 2010, will materially exceed previously announced guidance and will represent a record level of quarterly EBITDA. The Company also anticipates reporting slightly stronger than expected revenue results driven by increased leverage in its business model. Multiband expects to report overall financial results for the fiscal quarter ended June 30, 2010 and hold a conference call to discuss the second quarter on or about August 12, 2010.
James L. Mandel, CEO of Multiband, commented, aWe are executing ahead of plan and successfully leveraging our infrastructure to generate significant EBITDA growth. As expected, the operating efficiencies in our expanded platform, which includes superior performance metrics as well as diversified installation and ancillary services, are driving additional leverage within our business model and delivering tangible positive operating results. Coupled with a slightly stronger top line, we now expect our EBITDA results to exceed the guidance we have previously given on an annualized basis. Accordingly, we are raising our 2010 EBITDA Guidance from $12 Million to a new range of $14-$16 Million. We are slightly raising our Revenue Guidance from approximately $250 Million to a new range of $250-$255 Million. We look forward to reporting finalized and audited financial results for the second quarter and first half of 2010 and discussing operational details in an upcoming press release and conference call on or about August 12, 2010.a
(1) NON-GAAP Financial Measures
To comply with Regulation G promulgated pursuant to the Sarbanes-Oxley Act, Multiband Corporation, as is common in its industry, uses EBITDA as a measure of performance to demonstrate earnings exclusive of interest and non-cash events. The Company manages its business based on its cash flows. The Company, in its daily management of its business affairs and analysis of its monthly, quarterly and annual performance, makes its decisions based on cash flows, not on the amortization of assets obtained through historical activities. The Company, in managing its current and future affairs, cannot affect the amortization of the intangible assets to any material degree, and therefore uses EBITDA as its primary management guide. Since an outside investor may base its evaluation of the Company's performance based on the Company's net loss not its cash flows, there is a limitation to the EBITDA measurement. EBITDA is not, and should not be considered an alternative to net loss, loss from operations, or any other measure for determining operating performance of liquidity, as determined under accounting principles generally accepted in the United States (GAAP). The most directly comparable GAAP reference in the Company's case is the removal of interest, depreciation, amortization, taxes and other non-cash expense.
About Multiband Corporation:
Multiband is the largest nationwide DIRECTV master system operator in the Multiple Dwelling Unit (MDU) market and one of the largest full-service home service providers (HSPs), handling around 20% of all DIRECTV's installations, maintenance and upgrades for residents of single-family homes. Multiband is a full-service provider for a number of other partners within the footprint as well, offering solutions for watch, talk, surf and security, and is equipped with a retail store and an online store to strive to be a customer's "one source solution" for all electronic needs. Additionally, Multiband is a leading provider of software and integrated billing services to MDUs on a single bill, including video, voice, data and other value-added local services, both directly and through strategic partnerships. Multiband is headquartered in Minneapolis, MN, and has offices strategically placed around the continental United States.
Statements about our future expectations are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. When used herein, the words "may," "will," "should," "anticipate," "believe," "appear," "intend," "plan," "expect," "estimate," "approximate," and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business, including those set forth in our most recent Annual Report on Form 10-K for the year ended December 31, 2009, and other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.
