Key Developments For Datalink Corp
Datalink Corp (DTLK.O) (Consolidated Issue listed on NASDAQ Global Market)
Datalink Corporation Enters into Non-Binding Letter of Intent To Purchase Incentra, LLC's Reseller Business
Datalink Corporation announced that it has entered into a non-binding letter of intent to purchase the reseller business of Incentra, LLC. Based in Boulder, Colo., Incentra offers data center infrastructure solutions and services to enterprise companies.
Datalink Corporation Issues Q4 2009 Outlook In Line With Analysts' Estimates
Datalink Corporation announced that for the fourth quarter of 2009, it expects revenues to be between $45 and $49 million, with GAAP earnings in the range of breakeven to $0.04 per diluted share, and on a non-GAAP basis, earnings in the range of $0.03 to $0.07 per diluted share. According to Reuters Estimates, analysts on an average are expecting the Company to report earnings per share (EPS) of $0.06 on revenue of $47 million for the same period.
Datalink Corporation Acquires Networking Team From Cross Telecom
Datalink Corporation announced that it has acquired Minneapolis-based Cross Telecom`s networking solutions organization. The transaction closed October 1, 2009, and was structured as an asset purchase. The purchase price paid at closing was $2 million. Under terms of the purchase agreement Datalink and Cross entered into a services agreement under which Cross agreed to purchase at least $1.8 million of networking products and services from Datalink over the next three years. Datalink expects the transaction to be slightly accretive to earnings in the first 12 months.
Datalink Corporation Announces Resignation Of Charlie Westling As President And CEO
Datalink Corporation announced the resignation of President and Chief Executive Officer (CEO) Charlie Westling, who plans to pursue other opportunities. The Board has appointed current Datalink Board member Paul Lidsky, as President and CEO. This change is effective immediately. Westling has also resigned from the Company's Board, while Lidsky will remain on the Board.
Datalink Corporation Issues Q3 2009 Outlook In Line With Analysts' Estimates
Datalink Corporation announced that for the third quarter of 2009, it expects revenues to be between $41 and $45 million, with GAAP results ranging from a loss of $0.01 per diluted share to earnings of $0.04 per diluted share and on a non-GAAP basis earnings in the range of $0.01 to $0.06 per diluted share (EPS). Non-GAAP EPS exclude the effect of purchase accounting adjustments from the MCSI acquisition to deferred revenue, stock-based compensation expense, amortization of acquisition related intangible assets, and the related effects on income taxes. The Company estimates this total effect will be approximately $0.02 per diluted share for the third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenue of $44 million and non-GAAP EPS of $0.06 for the third quarter of 2009.
