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WEST CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2017 10-Q, filed Aug 3, 2017. Its latest SEC filing is a 15-12B from Oct 20, 2017.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Sells business communications, emergency communications and automated notification services to businesses, government agencies and public-safety organizations.

How Did They Make Money?

West bills communications by minutes, calls or messages and through monthly service fees; subscriptions and support may be billed in advance, while hardware sales count at shipment and installation work when accepted.

FY2016 revenue

Who Were Their Customers?

Clients range from small businesses to large companies and public organizations across industries such as government, education and healthcare. West's sales staff pursue client relationships, while partners can resell, private-label or integrate its services.

Did Revenues Turn Into Profits?

Yes. It kept 8 cents of every revenue dollar as net income in FY2016 and turned 13 cents into free cash flow.

Operating income, FY2016
19% of revenue
▼ −3% vs FY2015 ($456.5M, 20%)
Net income, FY2016
8% of revenue
▼ −20% vs FY2015 ($241.8M, 11%)
Free cash flow, FY2016
13% of revenue
▲ +7% vs FY2015 ($281.2M, 12%)

How Were They Changing?

Since the FY2016 annual report
Latest quarter: Q2 FY2017, the three months to Jun 30, 2017
Revenue
▼ −1%
vs $582.4M in Q2 FY2016
Net income
▲ +36%
vs $33M in Q2 FY2016
  • Oct 10, 2017 Apollo-affiliated funds completed their acquisition of West Eligible shares converted into a right to receive $23.50 in cash; West became wholly owned and requested Nasdaq delisting.
  • Aug 3, 2017 West acquired Callpointe Callpointe was among acquired entities contributing to quarterly revenue growth.
  • May 11, 2017 West agreed to be acquired by Apollo affiliates The agreement set cash consideration at $23.50 per share, subject to closing conditions.

Grew. Revenue grew 12% in 4 years, from $2B in FY2012 to $2.3B in FY2016, about 3% a year.

Sale of agent-based operations The earlier overview included business process outsourcing among West's services. The later report describes the sale of its consumer-facing customer sales, account services and receivables management operations.

Who Did They Compete With?

Competes with Microsoft, AT&T, Verizon, BT, ShoreTel, Google, IBM, Hewlett-Packard, Avaya, Cisco, 8x8, and RingCentral

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