Internap Corporation (NASDAQ:INAP) Files An 8-K Other Events
Item8.01 Other Events.
Internap Corporation (the Company) is filing this Current Report
on Form 8-K (Current Report) to retrospectively adjust certain
financial information and related disclosures included in the
Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2015 (Annual Report), which was filed with the
Securities and Exchange Commission (SEC) on February 18, 2016.
Effective January 1, 2016, we changed our organizational
structure in an effort to create more effective and efficient
operations and to improve customer and product focus. In that
regard, we revised the information that our chief executive
officer, who is also our chief operating decision maker,
regularly reviews for purposes of allocating resources and
assessing performance. As a result, beginning January 1, 2016, we
report our financial performance based on our new segments, which
are (1) data center and network services and (2) cloud and
hosting services. In addition, in conjunction with the change in
our organizational structure, we reclassified certain costs
included in the expense categories on our consolidated statement
of operations, which resulted in the following:a reclassification
ofSales and marketing and General and administrative to Sales,
general and administrative and Direct costs of amortization of
acquired and developed technologies to Depreciation and
amortization included on our consolidated statements of
operations. Prior periods have been restated to conform with the
new presentation. Further, effective January 1, 2016, the Company
adopted new guidance the Financial Accounting Standards Board
Accounting Standards Update (ASU) 2015-03,Interest –
Imputation of Interest: Simplifying the Presentation of Debt
Issuance Costs, and applied it retrospectively to all
periods presented.
This Current Report and Exhibit 99.1 are being filed solely to
reflect the changes noted above, and accordingly, the following
Items of the Annual Report are being adjusted retrospectively:
| Part I, Item 1. Business; | |
| Part II, Item 6. Selected Financial Data; | |
|
Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations; and |
|
|
Part II, Item 8. Financial Statements and Supplementary Data from Internap Corporation’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015. |
All other information in the Annual Report is not materially
affected by the changes noted above, and as such, remains
unchanged. Unaffected items and unaffected portions of the Annual
Report have not been repeated in, and are not amended or modified
by, this Current Report or Exhibit 99.1.
The information in this Current Report and Exhibit 99.1 with
respect to the Company should be read in conjunction with the
Company’s Quarterly Reports on Form 10-Q for the quarterly
periods ended March 31, 2016, June 30, 2016 and September 30,
2016, which were filed with the SEC on May 5, 2016, August 4,
2016 and November 3, 2016, respectively. This Current Report and
Exhibit 99.1 does not reflect events that may have occurred
subsequent to the original filing date of the Annual Report, and
does not modify or update in any way the disclosures made in the
Annual Report other than as required to retrospectively reflect
the segment changes and the adoption of ASU 2015-03, as described
above. For information on developments since the filing of the
Annual Report, please refer to the Company’s subsequent filings
with the SEC. The information contained in Exhibit 99.1 to this
Current Report is not an amendment to, or a restatement of, the
Annual Report.
Item9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit 23.1 | Consent of PricewaterhouseCoopers LLP. |
| Exhibit 99.1 |
Updated Part I Item 1. Business, Part II Item 6. Selected Financial Data, Part II Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Part II Item 8. Financial Statements and Supplementary Data from Internap Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015. |
| Exhibit 101 |
The following materials formatted in Extensible Business Reporting Language (XBRL): (i) Consolidated Statements of Operations, (ii) Consolidated Statements of Comprehensive Income (Loss), (iii) Consolidated Balance Sheets, (iv) Consolidated Statements of Cash Flows, (v) Consolidated Statements of Changes in Shareholders Equity, (vi) Notes to Consolidated Financial Statements and (vi) Schedule of Valuation and Qualifying Accounts. |
About Internap Corporation (NASDAQ:INAP)
Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The Company operates through two segments: Data Center Services segment and Internet Protocol Services segment. It offers hybrid Internet infrastructure services, which enables customers to mix and match cloud, hosting and colocation for the combination of services. It also offers availability across a global network of data centers, and services backed by service level agreements (SLAs). The Company serves approximately 11,000 customers in various industries, including software and Internet; media and entertainment; business services; healthcare technology infrastructure, and telecommunications. Its Data Center Services segment includes colocation, hosting and cloud services. IP Services segment includes its performance IP service, content delivery network (CDN) services, IP routing hardware and software platform, and Managed Internet Route Optimizer Controller. Internap Corporation (NASDAQ:INAP) Recent Trading Information
Internap Corporation (NASDAQ:INAP) closed its last trading session up +0.05 at 1.19 with 659,947 shares trading hands.
