LodgeNet Interactive to Present at the CL King Best Ideas Conference
2009年9月15日 - 10:00PM
PRニュース・ワイアー (英語)
To Discuss Progress on Strategic Initiatives Including Milestones
Related to High-Definition Television Deployments and Healthcare
Contracts; Business Model Positioned To Capitalize On Rebounding
Economy SIOUX FALLS, S.D., Sept. 15 /PRNewswire-FirstCall/ --
LodgeNet Interactive Corporation (NASDAQ:LNET), the leading
provider of media and connectivity solutions to hospitality and
healthcare businesses, will present at the CL King Best Ideas
Conference at the Omni Hotel in New York City on Thursday,
September 17, 2009. CEO Scott C. Petersen will discuss the
Company's overall strategy and its progress on its initiatives to
proactively manage its business during the economic cycle,
diversify its revenue streams and increase its free cash flow.
Petersen will also comment on the operating leverage inherent in
its business model as the economy begins to recover. (Logo:
http://www.newscom.com/cgi-bin/prnh/20080115/AQTU120LOGO) "During
the economic downturn over the past year, our team has done an
outstanding job right-sizing our operations and capital investment
plans to the economic environment," said Petersen. "Operating costs
for the first six months of 2009 were down 26.8% as compared to the
same period last year, and we reduced our capital investment
activity by over 70% - both of which actions allowed us to
increased free cash flow from $3.7 million during the first six
months of last year to over $30 million this year. With the
preferred stock offering we completed in June, our leverage ratio
(on a net debt basis) has improved substantially from 4.2x on June
30th one year ago to 3.7x this year." "At the same time, we have
continued to focus on executing on our strategic initiatives that
will increase our revenue and deliver shareholder value over the
long term," stated Petersen. Some recent highlights of these
Initiatives: -- LodgeNet recently passed an industry-leading
milestone of providing high-definition television (HDTV)
programming to approximately 300,000 rooms, including 200,000 rooms
installed with its High-Definition Advanced video on demand
platform, allowing hotel guests to enjoy Hollywood movies in high
definition clarity. -- Recently announced collaborative
relationships with a variety of technology leaders, among them one
for the LodgeNet IPTV+ platform, which incorporates the power of
the Apple Mac Mini into the LodgeNet interactive television system.
-- LodgeNet's Healthcare division recently signed its 50th hospital
contract. Recent new contracts include prestigious Morgan Stanley
Children's, ranked among the top children's hospitals by US News
& World Report, and the award-winning Indiana Orthopaedic
Hospital. -- The Hotel Networks is expanding its innovative media
programming with the addition of the Japan Broadcasting
Corporation's English-speaking NHK World Channel to its SuperBlock
offering as well as Luxury Explorer, which offers local interest
and customized hotel programming for high-end hotel properties, as
one of its Interactive Channels. "The Third Quarter is generally
tracking in-line with our expectations," continued Petersen. "We
have seen some improvement in Guest Entertainment during the
quarter but softness continues in business travel and capital
spending by our hotel customers. September tends to be a difficult
month to predict Guest Entertainment revenue because of the
seasonal transition from leisure to business travel; however, we
currently believe we will report third quarter Revenue and Adjusted
Operating Cash Flow at around the low end of our guidance range,
while Free Cash Flow will be within our original expectations."
"With our strategic acquisitions in 2007 and the more efficient
operational structure we now have in place, our business model has
significant operating leverage which should produce benefits for
our Company as hotel occupancies increase and consumer confidence
returns," concluded Petersen. "If Guest Entertainment recovers by
only 50% of the decline we have experienced over the past year,
annualized Revenue and Adjusted Operating Cash Flow should
generally increase by $40 million and $25 million respectively, all
other things remaining the same - representing a significant upside
opportunity for shareholder value." LodgeNet management is
scheduled to present Thursday, September 17, 2009 at 2:45 pm
Eastern Time. A live Webcast of the presentation and a copy of the
slides will be available in the investor section of the Company's
Website (http://www.lodgenet.com/). About LodgeNet Interactive
LodgeNet Interactive Corporation is the leading provider of media
and connectivity solutions designed to meet the unique needs of
hospitality, healthcare and other guest-based businesses. LodgeNet
Interactive serves more than 1.9 million hotel rooms representing
10,000 hotel properties worldwide in addition to healthcare
facilities throughout the United States. The Company's services
include: Interactive Television Solutions, Broadband Internet
Solutions, Content Solutions, Professional Solutions and
Advertising Media Solutions. LodgeNet Interactive Corporation owns
and operates businesses under the industry leading brands:
LodgeNet, LodgeNetRX, and The Hotel Networks. LodgeNet Interactive
is listed on NASDAQ and trades under the symbol LNET. For more
information, please visit http://www.lodgenet.com/. Special Note
Regarding Forward-Looking Statement Certain statements in this
press release constitute "forward-looking statements." When used in
this press release the words "intends," "expects," "anticipates,"
"estimates," "believes," "goal," "no assurance" and similar
expressions, and statements which are made in the future tense or
refer to future events or developments, including, without
limitation, our guidance for the third quarter of 2009, are
intended to identify such forward-looking statements. Such
forward-looking statements are subject to risks, uncertainties, and
other factors that could cause the actual results, performance or
achievements to be materially different from any future results,
performance, or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the
following: the effects of economic conditions, including general
financial conditions (including those represented recently by
liquidity crises, government bailouts and assistance plans, bank
failures, and recessionary threats and developments); the economic
condition of the lodging industry, which can be particularly
affected the financial conditions referenced above, as well as by
high gas prices, levels of unemployment, consumer confidence, acts
or threats of terrorism and public health issues; competition from
providers of similar services and from alternative systems for
accessing in-room entertainment; competition from HSIA providers;
changes in demand for our products and services; programming
availability, timeliness, quality, and costs; technological
developments by competitors; developmental costs, difficulties, and
delays; relationships with customers and property owners, in
particular as we reduce capital investment; the availability of
capital to finance growth; compliance with credit facility
covenants; the impact of governmental regulations; potential
effects of litigation; risks of expansion into new markets; risks
related to the security of our data systems; and other factors
detailed, from time to time, in our filings with the Securities and
Exchange Commission. For any of the foregoing reasons, our guidance
and our actual financial results may not meet our expectations.
These forward-looking statements speak only as of the date of this
press release. We expressly disclaim any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
LodgeNet is a registered trademark of LodgeNet Interactive
Corporation. All rights reserved. Other names and brands may be
claimed as the property of others.
http://www.newscom.com/cgi-bin/prnh/20080115/AQTU120LOGO
http://photoarchive.ap.org/ DATASOURCE: LodgeNet Interactive
Corporation CONTACT: Ann Parker, Director, Investor Relations of
LodgeNet Interactive Corporation, +1-605-988-1000, ; or Mike
Smargiassi of Brainerd Communicators, +1-212-986-6667, , for
LodgeNet Interactive Corporation Web Site: http://www.lodgenet.com/
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