Web.Com Group, Inc. (WEB) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

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Web.Com Group, Inc.
Ticker: WEB CIK: 1095291



	Web.com Group, Inc. 12808 Gran Bay Parkway West Jacksonville, FL 32258 T: (904) 680-6600 F: (904) 880-0350 NASDAQ: WEB

Web.com Reports Second Quarter 2018 Financial Results


•	Strong financial and operating performance driving revenue and profitability that exceeded expectations

JACKSONVILLE, Fla. - July 31, 2018 - Web.com Group, Inc. (NASDAQ: WEB), a leading global provider of a full range of Internet services and online marketing solutions for small businesses, today announced results for the second quarter ended June 30, 2018.

"Web.com reported second quarter financial results that exceeded our revenue and profitability guidance as we continue to execute against our 2018 objectives. In terms of our capital structure, as previously discussed, we intend to payoff the outstanding balance of our senior convertible notes in August using a combination of cash on hand and the currently undrawn revolving credit facility," said David L. Brown, chairman, chief executive officer and president of Web.com.

Brown added, "We continue to work towards finalizing the previously announced transaction for Web.com to be acquired, which is expected to close in the fourth quarter of this year. The 'go-shop' period remains in effect until August 5, 2018."

Summary of Second Quarter 2018 Financial Results:

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Total revenue, calculated in accordance with U.S. generally accepted accounting principles (GAAP), was $186.7 million for the second quarter of 2018, compared to $186.7 million for the second quarter of 2017. Non-GAAP revenue was $187.8 million for the second quarter of 2018, compared to $188.1 million in the comparable prior year period. Results were above the high end of both GAAP and non-GAAP revenue guidance of $181.0 to $184.0 million and $182.0 to $185.0 million, respectively.

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GAAP operating income was $18.2 million for the second quarter of 2018, representing a 10% GAAP operating margin, compared to $23.0 million, representing a 12% GAAP operating margin, for the second quarter of 2017. Non-GAAP operating income was $41.5 million for the second quarter of 2018, representing a 22% non-GAAP operating margin, compared to $42.9 million for the second quarter of 2017, representing a 23% non-GAAP operating margin.


•	GAAP net income was $6.2 million, or $0.13 per diluted share, for the second quarter of 2018, representing a 3% GAAP net income margin. GAAP net income was $8.0 million, or $0.16 per diluted share, for the second quarter of 2017, representing a 4% GAAP net income margin.


•	Adjusted EBITDA was $47.0 million for the second quarter of 2018, representing an adjusted EBITDA margin of 25%, surpassing the high end of the Company's adjusted EBITDA

The following information was filed by Web.Com Group, Inc. (WEB) on Tuesday, July 31, 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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