Syniverse Reports Strong Third Quarter Results: EPS of $0.33

Syniverse Holdings, Inc. SVR, a leading provider of technology and business solutions for the global telecommunications industry, today reported results for third quarter 2010. “Strengthening global business trends in combination with broad successes across our company, especially in the roaming and messaging lines of business, have resulted in an excellent third quarter for Syniverse,” said Tony Holcombe, President and CEO. “Mobile data use continues to rise across the globe, and we continue to experience strong organic growth across all parts of our messaging business.” Syniverse cited strong results for the quarter: * Total revenue for third quarter 2010 was $166.9 million, a 43.0% increase compared to third quarter 2009. * Net revenue, which excludes off-network database queries, was $165.6 million, a 43.9% increase compared to third quarter 2009. * Net income attributable to Syniverse was $23.3 million or $0.33 per diluted share, 31.5% and 29.0% increases, respectively, compared to third quarter 2009. * Cash net income, a non-GAAP financial measure described below, was $36.4 million or $0.53 per diluted share, 29.1% and 27.3% increases, respectively, compared to third quarter 2009. * Adjusted EBITDA, a non-GAAP financial measure described below, was $70.7 million, a 26.2% increase compared to third quarter 2009. * Net cash provided by operating activities was $49.0 million in the third quarter 2010, a 49.3% increase compared to third quarter 2009. * Operating free cash flow, a non-GAAP financial measure described below, was $33.3 million in the third quarter 2010, a 24.5% increase compared to third quarter 2009.