Synacor (SYNC) Expands Partnership With Verizon FiOS to Offer Seamless Content Delivery

Through Synacor’s Startpages, Verizon FiOS TV Subscribers Have Access to a Variety of Programming From HBO, Showtime, SyFy, Telemundo, NBC and More

BUFFALO, N.Y., May 1, 2013 (GLOBE NEWSWIRE) — Synacor, Inc. (Nasdaq:SYNC), leading provider of next-gen startpages, TV Everywhere solutions and cloud-based Identity Management (IDM) services across multiple devices for cable, satellite, telecom and consumer electronics companies, today announced it has expanded its relationship with Verizon to offer the company’s nearly 5 million FiOS TV subscribers access to TV shows and movies from one online destination. The My Verizon website now includes a simple search and discovery experience, easy authentication, and the ability to log in just once.

“Our work with Verizon shows Synacor’s strategic positioning among consumers, content providers and distributors, making sense of this complicated TV Everywhere ecosystem on behalf of our customers and partners,” said Michael Bishara, VP and GM of TV Everywhere. “Consumers want access to their favorite TV shows and movies all in one place versus endlessly searching across every channel and show website, app or individual OTT offering. Whether it’s ‘Game of Thrones,’ ‘Girls,’ or even a can’t miss episode of ‘Real Housewives,’ we want Verizon FiOS customers to find it easily on one site and with only one log in. With our customized solutions, handling programmer integrations, authentication and consumer-friendly single sign-on, we’re delighted to be working with Verizon and ultimately increasing end-consumer engagement.”

Synacor’s consumer-facing Verizon startpage (found here) drives engagement and allows FiOS TV subscribers to access live linear and on-demand programming from top providers like HBO, Cinemax, Showtime, SyFy, USA Network, CNBC, Telemundo, Bravo, Oxygen, Golf Channel, mun2, E!, Sprout, Style Network, MSNBC, NBC, NBC Local, NBC Sports Network and NBC News. This site also gives Verizon subscribers access to additional content and services like email, games, DVR settings and news – all in one location, and all with a single log in for authentication.

Synacor’s next-gen startpages offer pay-TV providers an end-to-end tech solution that’s branded, customized, and revenue-generating, while simultaneously increasing satisfaction, loyalty and engagement among their subscribers. Providers can deliver content, services and apps to their consumers across multiple devices, anytime, anywhere. Synacor continues to launch dozens of compelling video content options, including partners like Fox News Channel, Fox Sports, NHL, The Weather Channel, Starz and VEVO.

For more information on Synacor and its next-gen startpages, please visit synacor.com or email tellmemore@synacor.com. To see Synacor’s Michael Bishara talk more about TV Everywhere, please click here.

About Synacor

Synacor’s white-label platform enables cable, satellite, telecom and consumer electronics companies to deliver TV Everywhere, digital entertainment, cloud-based services and apps to their end-consumers across multiple devices, strengthening those relationships while monetizing the engagement. Synacor (Nasdaq:SYNC), is headquartered in Buffalo, NY. For more information, visit synacor.com.

Integrate. Authenticate. Engage.

Forward-Looking Statements

This release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of management of Synacor, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other factors affecting the operation of the respective businesses of Synacor. More detailed information about these factors may be found in filings by Synacor, as applicable, with the Securities and Exchange Commission, including their respective Quarterly Report on Form 10-Q. Synacor is under no obligation to, and expressly disclaims any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.

CONTACT: Michael Zema
         (212) 445-8181
         mzema@webershandwick.com

James River Coal (JRCC) Reports First Quarter 2013 Operating Results

RICHMOND, Va., May 1, 2013 /PRNewswire/ —

• Substantially Completed a Major Restructuring of All Mine Operations and Support Services
• Cash Mining Costs Per Ton Fall in CAPP and Midwest Operations
• Capital Expenditures of $7.7 Million
• Domestic Thermal Market Improves With Higher Natural Gas Prices; Met Coal Market Impacted by Global Economic Concerns
• Continuing to Evaluate Options to Strengthen the Balance Sheet and Improve Liquidity
• Conference Call Slides Posted to Company Website

James River Coal Company (NASDAQ: JRCC), today announced that it had net loss of $42.1 million or $1.21 per diluted share for the first quarter of 2013.  The 2013 results are compared to net loss of $15.7 million or $.45 per diluted share for the first quarter of 2012.

Peter T. Socha, Chairman and Chief Executive Officer commented: “Our mining operations had an excellent quarter.  As previously discussed, they have substantially completed a major restructuring of all mines and support services.  We are now beginning to see the results of this process in both coal production and costs.  We are continuing to adjust our operations to changes in the markets for both thermal and met coal.  The domestic thermal coal market appears to be benefitting from higher prices in the natural gas market.  We are a little more cautious on the met coal market today due to the influence of global economic factors.  Lastly, we are continuing to evaluate a wide variety of options to improve our liquidity and strengthen our balance sheet.  We are very grateful for the large number of holders of our debt and equity securities that have contacted us to discuss their thoughts and suggestions.”

FINANCIAL RESULTS

The following tables show selected operating results for the quarter ended March 31, 2013 compared to the quarter ended March 31, 2012 (in 000’s except per ton amounts).

LIQUIDITY AND CASH FLOW

As of March 31, 2013, the Company had available liquidity of $107.2 million calculated as follows (in millions):

Other significant items impacting liquidity in the quarter:

SALES POSITION

As of April 30, 2013, we had the following agreements to ship coal at a fixed and known price (in 000’s except per ton amounts):

CONFERENCE CALL, WEBCAST AND REPLAY:  The Company will hold a conference call with management to discuss the quarterly earnings May 1, 2013 at 10:00 a.m. Eastern Time.  The conference call can be accessed by dialing 877-340-2553, or through the James River Coal Company website at http://www.jamesrivercoal.com.  International callers, please dial 678-224-7860.  A replay of the conference call will be available on the Company’s website.

James River Coal Company is one of the leading coal producers in Central Appalachia and the Illinois Basin.  The company sells metallurgical, bituminous steam and industrial-grade coal to electric utility companies and industrial customers both domestically and internationally.  The Company’s operations are managed through eight operating subsidiaries located throughout eastern Kentucky, southern West Virginia and southern Indiana.  Additional information about James River Coal can be found at its web site www.jamesrivercoal.com

FORWARD-LOOKING STATEMENTS:  Certain statements in this press release and other written or oral statements made by or on behalf of us are “forward-looking statements” within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management’s expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. Forward looking statements include, without limitation, statements regarding future sales and contracting activity, projected fuel escalators, and all guidance figures.  These forward-looking statements are subject to a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the following: our cash flows, results of operation or financial condition; the consummation of acquisition, disposition or financing transactions and the effect thereof on our business; governmental policies, regulatory actions and court decisions affecting the coal industry or our customers’ coal usage; legal and administrative proceedings, settlements, investigations and claims; our ability to obtain and renew permits necessary for our existing and planned operation in a timely manner; environmental concerns related to coal mining and combustion and the cost and perceived benefits of alternative sources of energy; inherent risks of coal mining beyond our control, including weather and geologic conditions or catastrophic weather-related damage; our production capabilities; availability of transportation; our ability to timely obtain necessary supplies and equipment; market demand for coal, electricity and steel; competition, including competition from alternative sources such as natural gas; our relationships with, and other conditions affecting, our customers; employee workforce factors; our assumptions concerning economically recoverable coal reserve estimates; future economic or capital market conditions; our plans and objectives for future operations and expansion or consolidation; and the other risks detailed in our reports filed with the Securities and Exchange Commission (SEC). Management believes that these forward-looking statements are reasonable; however, you should not place undue reliance on such statements. These statements are based on current expectations and speak only as of the date of such statements. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.

JAMES RIVER COAL COMPANY
AND SUBSIDIARIES
Consolidated Balance Sheets
(in thousands, except share data)

JAMES RIVER COAL COMPANY
AND SUBSIDIARIES
Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)

JAMES RIVER COAL COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

JAMES RIVER COAL COMPANY
AND SUBSIDIARIES
Reconciliation of Non GAAP Measures
(in thousands)
(unaudited)

EBITDA is used by management to measure operating performance.  We define EBITDA as net income or loss plus interest expense (net), income tax expense (benefit) and depreciation, depletion and amortization (EBITDA), to better measure our operating performance.  We regularly use EBITDA to evaluate our performance as compared to other companies in our industry that have different financing and capital structures and/or tax rates.  In addition, we use EBITDA in evaluating acquisition targets.

Adjusted EBITDA is defined as EBITDA as further adjusted for certain cash and non-cash charges as specified in our revolving credit facility and is used in several of the covenants in that facility.  We believe that Adjusted EBITDA presents a useful measure of our ability to service and incur debt on an ongoing basis.

EBITDA and Adjusted EBITDA are not recognized terms under GAAP and are not an alternative to net income, operating income or any other performance measures derived in accordance with GAAP or an alternative to cash flow from operating activities as a measure of operating liquidity.  Because not all companies use identical calculations, this presentation of EBITDA and Adjusted EBITDA, may not be comparable to other similarly titled measures of other companies.  Additionally, EBITDA and Adjusted EBITDA are not intended to be a measure of free cash flow for management’s discretionary use, as they do not reflect certain cash requirements such as tax payments, interest payments and other contractual obligations.

Inteliquent (IQNT) Announces Strong First Quarter Results and Revises 2013 Financial Guidance

Q1 2013 Highlights

• Divested global data business for $54.5 million on April 30, 2013
• Total revenue was $69.7 million, an increase of 3% from Q4 2012
• Voice services revenue was $50.5 million, an increase of 2% from Q4 2012
• Record data services revenue was $19.2 million, an increase of 5% from Q4 2012
• Adjusted EBITDA (a non-GAAP financial measure) was $18.0 million, an increase of 24% from Q4 2012

CHICAGO, May 1, 2013 (GLOBE NEWSWIRE) — Neutral Tandem, Inc. d/b/a Inteliquent (Nasdaq:IQNT), a leading provider of voice services, today announced its financial results for the first quarter of 2013.

“Our performance thus far in 2013 is very encouraging,” said Ed Evans, Chief Executive Officer of Inteliquent. “The sale of our data business accomplishes several goals. It is highly accretive and it allows us to focus all of our efforts on the voice business, which we expect will yield further improvements. We are becoming more disciplined in everything that we do.”

Financial and Operating Results

In the first quarter of 2013, Inteliquent generated revenue of $69.7 million, a decrease of 1% compared to $70.7 million of revenue in the first quarter of 2012. The revenue decrease related primarily to a reduction in minute volumes for local transit and termination voice services, which was partially offset by an increase in volumes for our origination voice services and data services.

Voice minutes of use decreased by 11% to 30.6 billion minutes in the first quarter of 2013, compared to 34.2 billion minutes in the first quarter of 2012. Average price per minute increased by 6% over the same time period.

Data traffic volume increased by 47% to 10.7 terabits per second in the first quarter of 2013, compared to 7.3 terabits per second in the first quarter of 2012. Average price per megabit decreased by 24% over the same time period.

Adjusted EBITDA (a non-GAAP financial measure) in the first quarter of 2013 was $18.0 million, a decrease of 15% compared to $21.3 million in the first quarter of 2012. See “Use of Non-GAAP Financial Measures” below for a discussion of the presentation of Adjusted EBITDA and reconciliation to net income.

Income from operations in the first quarter of 2013 was $11.2 million, compared to income from operations of $10.7 million in the first quarter of 2012.

Divestiture of Global Data Business

Yesterday, Inteliquent announced the sale of NT Network Services LLC and NT Network Services LLC, SCS (collectively, the “global data business”) to Global Telecom & Technology, Inc. (“GTT) for $54.5 million, subject to certain adjustments. The total consideration consisted of $52.5 million in cash and $2.0 million of non-cash commercial services to be provided by GTT to Inteliquent. The transaction signed and closed on April 30, 2013.

The divestiture of the global data business positions Inteliquent as a company focused exclusively on its voice services business, clarifying our strategic direction and value proposition. On a pro forma basis, Inteliquent’s operations will be very similar to its asset profile prior to its October 2010 acquisition of Tinet S.p.A. The divestiture will not impact the voice business, including its customers and employees. We expect to classify and report results of the global data business as discontinued operations in its consolidated financial statements beginning in the second quarter of 2013.

As a result of the transaction, Inteliquent will have considerable balance sheet flexibility with an estimated cash balance of approximately $85 million. We intend to conduct a comprehensive review of our alternatives related to our cash position.

Selected Financial and Operational Metrics

2013 Business Outlook

As a result of Inteliquent’s strong first quarter and the divestiture of its global data business, Inteliquent is revising its financial estimates for 2013. The financial estimates include results from the global data business for the first four months of 2013 only. The new outlook is as follows:

“The initiatives that we began 6 months ago to re-focus the organization on profitability and cash flow are taking hold. Our cost-cutting decisions – as tough as they might be – are becoming visible in our financial results,” said David Zwick, Executive Vice President and Chief Financial Officer of Inteliquent. “It is a pleasure to report a clean quarter without any one-time adjustments to EBITDA. The company has been stabilized and we are moving in the right direction again,” concluded Mr. Zwick.

Conference Call & Web Cast

The first quarter conference call will be held on Wednesday, May 1, 2013 at 10:00 a.m. (ET). A live web cast of the conference call as well as a replay will be available online on the company’s corporate web site at www.inteliquent.com. Participants can also access the call by dialing 1-877-941-0843 (within the United States and Canada), or 1-480-629-9819 (international callers). A replay of the call will be available approximately two hours after the call has ended and will be available until 11:59 p.m. (ET) on June 1, 2013. To access the replay, dial 1-800-406-7325 (within the United States and Canada), or 1-303-590-3030 (international callers) and enter the conference ID number: 4612966#.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The words “anticipates,” “believes,” “efforts,” “expects,” “estimates,” “projects,” “proposed,” “plans,” “intends,” “may,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Factors that might cause such differences include, but are not limited to: the effects of competition, including direct connects, and downward pricing pressure resulting from such competition; risks associated with the sale of our data business, including issues regarding separating our network, IT and billing systems from the network and systems sold to the buyer, and that the cost savings and other benefits we hope to receive may not materialize in part or at all; our ability to maintain relationships with business providers following the sale of the data business; our regular review of strategic alternatives; the impact of current and future regulation, including intercarrier compensation reform enacted by the Federal Communications Commission; the risks associated with our ability to successfully develop and market new services, many of which are beyond our control and all of which could delay or negatively affect our ability to offer or market new services; technological developments; the ability to obtain and protect intellectual property rights; the impact of current or future litigation; the potential impact of any future acquisitions, mergers or divestitures; natural or man-made disasters; the ability to attract, develop and retain executives and other qualified employees; changes in general economic or market conditions; and other important factors included in our reports filed with the Securities and Exchange Commission (the “SEC”), particularly in the “Risk Factors” section in our Annual Report on Form 10-K for the period ended December 31, 2012, as such Risk Factors may be updated from time to time in subsequent reports. Furthermore, such forward-looking statements speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

Additional Information and Where to Find It

In connection with the proxy contest initiated by Clinton Magnolia Master Fund, Ltd., Neutral Tandem, Inc. d/b/a Inteliquent (the “Company”) will be filing a definitive proxy statement and accompanying WHITE proxy card with the SEC in connection with the solicitation of proxies for its 2013 annual meeting of stockholders. Stockholders are strongly advised to read the Company’s 2013 definitive proxy statement when it becomes available because it will contain important information. Stockholders will be able to obtain copies of the Company’s 2013 definitive proxy statement and other documents filed by the Company with the SEC in connection with its 2013 annual meeting of stockholders at the SEC’s website at www.sec.gov or at the “Investor Relations” section of the Company’s website at ir.inteliquent.com.

Participants in the Solicitation

The Company, its directors, its executive officers, and certain other members of management and employees of the Company may be deemed “participants” in the solicitation of proxies from stockholders of the Company in connection with the matters to be considered at the 2013 annual meeting of stockholders. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the stockholders of the Company in connection with such matters is set forth in the preliminary proxy statement filed with the SEC on April 19, 2013 and will be set forth in the definitive proxy statement to be filed with the SEC.

About Inteliquent

Headquartered in Chicago, Inteliquent provides intelligent networking to solve challenging voice interconnection and interoperability issues. With an advanced MPLS network that is highly interconnected to major carriers and service providers, Inteliquent serves its voice customers worldwide.  Please visit Inteliquent’s website at www.inteliquent.com and follow us on Twitter@Inteliquent.

The condensed consolidated statements of income, balance sheets and statements of cash flows are unaudited and subject to reclassification.

Use of Non-GAAP Financial Measures

In this press release we disclose “Adjusted EBITDA”, which is a non-GAAP financial measure. For purposes of SEC rules, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure, calculated and prepared in accordance with generally accepted accounting principles in the United Sates (GAAP).

EBITDA is defined as net income before (a) interest expense, net (b) income tax expense and (c) depreciation and amortization. Adjusted EBITDA is defined as EBITDA as further adjusted to eliminate non-cash share-based compensation, impairment charges, foreign exchange loss (gain) on intercompany loans, dispute settlements, cease operations – hosted services, reduction in force, value-added tax and other expense related to stock buyback. We believe that the presentation of Adjusted EBITDA included in this press release provides useful information to investors regarding our results of operations because it assists in analyzing and benchmarking the performance and value of our business. We believe that presenting Adjusted EBITDA facilitates company-to-company operating performance comparisons of companies within the same or similar industries by backing out differences caused by variations in capital structure, taxation and depreciation of facilities and equipment (affecting relative depreciation expense), which may vary for different companies for reasons unrelated to operating performance. These measures provide an assessment of controllable operating expenses and afford management the ability to make decisions which are expected to facilitate meeting current financial goals as well as achieve optimal financial performance. They provide an indicator for management to determine if adjustments to current spending decisions are needed. Furthermore, we believe that the presentation of Adjusted EBITDA has economic substance because it provides important insight into our profitability trends, as a component of net income, and allows management and investors to analyze operating results with and without the impact of depreciation and amortization, interest and income tax expense, non-cash share-based compensation, impairment charges, foreign exchange loss (gain) on intercompany loans, dispute settlements, cease operations – hosted services, reduction in force, value-added tax and other expense related to stock buyback. Accordingly, these metrics measure our financial performance based on operational factors that management can impact in the short-term, namely the operational cost structure and expenses of our business. In addition, we believe Adjusted EBITDA is used by securities analysts, investors and other interested parties in evaluating companies, many of which present an EBITDA measure when reporting their results. Although we use Adjusted EBITDA as a financial measure to assess the performance of our business, the use of Adjusted EBITDA is limited because it does not include certain material costs, such as depreciation, amortization and interest and taxes, necessary to operate our business. We disclose the reconciliation between EBITDA and Adjusted EBITDA and net income below to compensate for this limitation. While we use net income as a significant measure of profitability, we also believe that Adjusted EBITDA, when presented along with net income, provides balanced disclosure which, for the reasons set forth above, is useful to investors in evaluating our operating performance and profitability. Adjusted EBITDA included in this press release should be considered in addition to, and not as a substitute for, net income as calculated in accordance with generally accepted accounting principles as a measure of performance.

The following is a reconciliation of net income to EBITDA and Adjusted EBITDA:

CONTACT: Media Contact:
         Inteliquent
         Kelly Stein
         (312) 384-8039

         Investor Contact:
         Inteliquent
         Darren Burgener
         (312) 380-4548

Digiplex (DCIN) to Q3 FY13 Financial Results and Host Conference Call/Webcast May 14

Digital Cinema Destinations Corp. (NasdaqCM: DCIN) (Digiplex), a fast-growing motion picture exhibitor dedicated to transforming movie theaters into digital entertainment centers, today announced that it will report its fiscal 2013 third quarter financial results for the three-month period ended March 31, 2013 following the market close on Tuesday, May 14, 2013. Management will host a conference call and webcast at 4:30 p.m. ET that afternoon to review the results.

TELEPHONE: 800 707 8454. Please call at least five minutes in advance to ensure you are connected.

WEBCAST: live webcast is available through the Investor Relations section of Digiplex’s website at www.digiplexdest.com. A webcast replay will be available and accessible for at least 30 days following the live event.

About Digital Cinema Destinations Corporation (www.digiplexdest.com)

Digital Cinema Destinations Corp. is dedicated to transforming its movie theaters into interactive entertainment centers. The Company provides consumers with uniquely satisfying experiences, combining state-of-the-art digital technology with engaging, dynamic content that far transcends traditional cinematic fare. The Company’s customers enjoy live and pre-recorded alternative programming such as concerts, operas, ballets, sporting events, conferences, interactive videogames, auctions, fashion shows and, on an ongoing basis, the very best major motion pictures. As of April 30, 2013, Digiplex operates 18 cinemas and 178 screens in AZ, CA, CT, NJ, OH and PA. You can connect with Digiplex via Facebook, Twitter, YouTube and Blogger. Digiplex is also participating in DigiNext, a unique, specialty content joint venture (with Nehst Studios) featuring curated content from festivals around the world. DigiNext releases typically include innovative live Q&A sessions between the audience and cast members.