SOURCE: GXS

GXS

April 01, 2011 14:05 ET

GXS Announces Its Fourth Quarter and Full Year 2010 Earnings Conference Call

GAITHERSBURG, MD--(Marketwire - April 1, 2011) - GXS, the world's largest B2B e-commerce provider, today announced that it will host a conference call to discuss the company's fourth quarter and full year 2010 financial results with the investment community. The call will be held on Tuesday, April 5, 2011, at 1:00 p.m. Eastern Time.

Conference call details:

What: GXS Worldwide, Inc. Fourth Quarter and Full Year 2010 Earnings Conference Call
Date: Tuesday, April 5, 2011
Time: 1:00 p.m. Eastern Time
Dial-in Number: 1-877-269-6740 (when calling in, you'll be asked for your name and the Conference ID Number)
Conference ID Number: 57271281
Replay Dial-In Number: 1-800-642-1687 or 1-706-645-9291 (replay will be available for one week, beginning two hours after the call ends)

On March 31, 2011, GXS Worldwide, Inc. filed its 2010 Annual Report on Form 10-K with the Securities and Exchange Commission. In that report, GXS provided certain non-GAAP financial measurements including Adjusted EBITDA. The Adjusted EBITDA presented in our 10-K did not include the impact of deferred income associated with our accounting of the Inovis acquisition which closed June 2, 2010 (the "Merger"). To be consistent with how we presented the calculation of Adjusted EBITDA in our third quarter 2010 10-Q, below is a presentation of Adjusted EBITDA as further adjusted for the impact of deferred income associated with the Merger.

    Year Ended December 31,  
    2008 2009   2010  
(in $ 000s)   Amount ($) Amount ($)   Amount ($)  
Net Income (loss)   5,546 (25,532 ) 4,002  
Adjustments            
  Income tax expense (benefit)   2,945 (1,259 ) (25,528 )
  Interest expense, net   50,353 74,357   86,071  
  Depreciation and amortization   57,318 53,512   48,708  
  Stock compensation expense   125 150   403  
  Other income (expense), net   1,327 (807 ) 78  
  Restructuring charges   5,959 7,549   5,635  
  Asset impairment charges   2,974 -   -  
  Merger and acquisition fees   781 2,535   8,555  
  Integration costs (1)   - -   676  
  Deferred income adjustment (2)   - -   4,379  
  Loss on disposition of assets   - -   1,724  
  Loss on extinguishment of debt   - 9,588   -  
  Management fees   2,000 2,000   4,833  
Total adjustments   123,782 147,625   135,534  
Adjusted EBITDA   129,328 122,093   139,536  
             
   
(1) Integration costs represent specific incremental operating expenses associated with the integration of the Inovis business.  
(2) Purchase accounting requires that deferred income of an acquired business to be written-down to fair value at the date of purchase. In the twelve months following the Merger, revenue and operating income will be impacted by this adjustment.  

About GXS

GXS is a leading integration services provider and operates the world's largest integration cloud, GXS Trading Grid®. Our software and services help more than 40,000 companies, including 75 percent of the Fortune 500 and 24 of the top 25 supply chains, extend their partner networks, automate receiving processes, manage electronic payments, and improve supply chain visibility. GXS Managed Services, our unique approach to improving B2B integration operations, combines GXS Trading Grid with our process orchestration services and global team to manage a company's multi-enterprise processes. Based in Gaithersburg, Maryland, GXS has direct operations in 20 countries, employing more than 2,000 professionals. To learn more, see http://www.gxs.com, read our blog at http://blogs.gxs.com, follow us on Twitter at http://twitter.com/gxs and join us on LinkedIn at http://www.linkedin.com/company/gxs.

Contact Information

  • Investor Relations:
    Gregg Clevenger
    Executive Vice President and Chief Financial Officer
    GXS Worldwide, Inc.
    301-340-5188
    gregg.clevenger@gxs.com