Spok Holdings, Inc (SPOK) 10-Q Quarterly Report October 2018

- Spok Holdings, Inc. (NASDAQ: SPOK), the global leader in healthcare communications, today announced operating results for the third quarter and year-to-date period ended September 30, 2018. In addition, the Company’s Board of Directors declared a regular quarterly dividend of $0.125 per share, payable on December 10, 2018 to stockholders of record on November 16, 2018.

2018 Third-Quarter Results:

Consolidated revenue for the third quarter of 2018 under Generally Accepted Accounting Principles (“GAAP”) was $42.5 million compared to $43.6 million in the third quarter of 2017. On January 1, 2018, Spok adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Unless otherwise stated, results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts have not been adjusted, and continue to be reported in accordance with the Company’s historic accounting under ASC 605. As such, adjusted to exclude the adoption of ASC 606, consolidated revenue for the third quarter of 2018 was $41.0 million compared to the $43.6 million in the third quarter of 2017.



Spok.com

The following information was filed by Spok Holdings, Inc (SPOK) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Spok Holdings, Inc's 10-Q Quarterly Report:

Financial - Earnings Highlight
The decrease of $1.4 million is related to a decrease in net income of $7.0 million decrease in cash flow, a decrease of $0.7 million in depreciation, amortization and accretion expenses decrease in cash flow, a decrease in deferred income tax expense of $2.1 milliondecrease in cash flow partially offset by an increase in other non-cash items of $1.5 million increase in cash flow, and an increase in stock based compensation of $1.1 million increase in cash flow.

Financial - Expense Highlight
We intend to continue these efforts based on their importance to our continued success and do not anticipate a return to historically low costs.
Financial - Expense Highlight
Cost of revenue expense increased for the three and nine months ended September 30, 2018 compared to the same periods in 2017 primarily due to an increase in benefits expenses.
M & A - Other Highlight
We may also consider using cash to fund or complete opportunistic investments and acquisitions that we believe will provide a measure of growth or revenue stability while supporting our existing operations.
Revenue - Product Highlight
The increase in operations revenue is primarily due to an increase in the size and value of projects being completed as well as the adoption of ASC 606 and the related acceleration of license and subscription revenues during the nine months ended September 30, 2018 as compared to the same periods in 2017.
Financial - Expense
Site rent and telecommunications expenses...Read more
Financial - Expense
Net cash used in investing...Read more
Other - Other
These are factors that, individually...Read more
Revenue - Product
The increase in operation revenue...Read more
Revenue - Product
The increase in maintenance revenue...Read more
Revenue - Product
The increase in maintenance revenue...Read more
Financial - Expense
These costs will continue to...Read more
Revenue - Product
The decrease in operations revenue...Read more
Financial - Debt
The increase in bad debt...Read more
Other - Other
As such, we are not...Read more
Other - Other
Our solutions can be found...Read more
Financial - Dividend
We intend to use our...Read more
Other - Other
Consequently, investors should not consider...Read more
Financial - Expense
Selling and marketing expenses increased...Read more
Other - Other
Organizations rely on Spok for...Read more
Revenue - Product
Wireless revenue is generally based...Read more
Revenue - Product
The decrease in wireless revenue...Read more
Financial - Expense
Research and development expense increased...Read more
Financial - Expense
Service, rental and maintenance expense...Read more
Financial - Expense
This classification consists primarily of...Read more
Financial - Expense
These are expenses primarily for...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Spok Holdings, Inc provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: SPOK
CIK: 1289945
Form Type: 10-Q Quarterly Report
Accession Number: 0001289945-18-000038
Submitted to the SEC: Thu Oct 25 2018 12:18:50 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Radiotelephone Communications