Boston, MA 07/16/2013 (wallstreetpr) – The leading provider of voice-based communication services in the United States, Inteliquent, Inc. (NASDAQ:IQNT) has recently updated the financial guidance for the company’s performance for the fiscal year 2013. The company revised the estimates of revenue for this year between $215 and $225 million, relative to the previous estimates of $200 to $210 million. However, consensus estimates of analysts for this year stand at $205.68 million.
Furthermore, the estimates for adjusted EBITDA have been revised between $57 and $62 million and the capital expenditures for the company have been estimated at between $12 and $16 million for this fiscal year. All such financial estimates released by the company have been calculated after incorporating the results of the business prior to the divestiture of Inteliquent global data business on April 30, 2013.
With this recent revision in the financial guidance estimates for the company for this fiscal year, shares of Inteliquent reached new peaks by the end of Monday’s trading session. The stock has climbed to nine month high price levels and has also witnessed heavy trading volumes on the day.
Intraday spread was from a low price of $7.04 to a high price of $8.73. The share of the Inteliquent, Inc. (NASDAQ:IQNT) closed for the day at $8.50, recording an increase of 39.57%. The low price range of Inteliquent for the last 52 weeks was from $2.10 to a high price of $14.11. The stock opened at $7.04 on Monday with a market capitalization of $275.28 million and 32.39 million outstanding shares. With an institutional ownership of 71%, the trading volume for the day of Inteliquent was 3.84 million and the average trading volume amounted to 663,750.00 shares.
