SANTA CLARA, CA -- (Marketwire) -- 01/22/13 -- Avaya Inc., a global provider of business communications and collaboration systems, software and services, announced today that, for fiscal first quarter 2013 ended December 31, 2012, the company expects to report the following results: (i) revenue to be in the range of $1.237 billion to $1.240 billion, (ii) non-GAAP gross profit as a percentage of revenue to be approximately 55%, and (iii) adjusted EBITDA to be in the range of $247 million to $251 million, with a cash balance as of December 31, 2012 of approximately $285 million.
The Company noted that its financial results for the first quarter of fiscal 2013 ended December 31, 2012 are preliminary and subject to the completion of its financial closing procedures.
In addition, the Company plans to report fiscal first quarter 2013 results after the market close on Tuesday, February 5, 2013.
Avaya will also host a conference call to discuss its financial results at 5:00 p.m. EST on February 5, 2013. A listen-only broadcast of the conference call and presentation notes can be accessed on the company's website at www.avaya.com/investors. A replay of the conference call will be available beginning at 8:00 p.m. EST on February 5 through March 5, by dialing 855-859-2056 within the United States and 404-537-3406 outside the United States. The replay access code is 91163824.
Avaya is a global provider of business collaboration and communications solutions, providing unified communications, contact centers, networking and related services to companies of all sizes around the world. For more information please visit www.avaya.com.
Use of Non-GAAP (Adjusted) Financial Measures
The information furnished in this release includes non-GAAP financial measures that differ from measures calculated in accordance with Generally Accepted Accounting Principles in the United States (GAAP), including adjusted EBITDA and non-GAAP gross margin.
EBITDA is defined as net income (loss) before income taxes, interest expense, interest income and depreciation and amortization. Adjusted EBITDA is EBITDA further adjusted to exclude certain charges and other adjustments permitted in calculating covenant compliance under our debt agreements as further described in our SEC filings. We believe that including supplementary information concerning adjusted EBITDA is appropriate to provide additional information to investors to demonstrate compliance with our debt agreements and because it serves as a basis for determining management compensation. In addition, we believe adjusted EBITDA provides more comparability between our historical results and results that reflect purchase accounting and our current capital structure. Accordingly, adjusted EBITDA measures our financial performance based on operational factors that management can impact in the short-term, namely the company's pricing strategies, volume, costs and expenses of the organization.
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