McLean, VA, November 25, 2014—GTT Communications, Inc. (NYSE MKT: GTT), the leading global cloud networking provider to multinational enterprises, announced today it will transfer the listing of its common stock to the New York Stock Exchange (“NYSE”) from the NYSE MKT. GTT expects its shares to begin trading on the NYSE on November 28, 2014 under its current ticker symbol (“GTT”). The Company will continue to trade on the NYSE MKT until the transfer is complete.
“We are excited to announce the transfer of our listing to the NYSE, home to many of our multinational clients,” stated Rick Calder, GTT’s President and CEO. “We are executing against our growth strategy toward achieving our next financial objective of $400 million in revenue and $100 million in Adjusted EBITDA. We remain committed to increasing long-term value for our shareholders and believe that the NYSE is the right partner in those efforts.”
“We are delighted to continue our relationship with GTT and their shareholders as the company transitions to our NYSE platform,” said Scott Cutler, Executive Vice President, Global Listings at NYSE. “As one of the fastest growing communications companies in the world, GTT is a great example of a growth-oriented company that can leverage NYSE’s advanced and innovative market model.”
GTT operates a global Tier 1 IP network connecting to any location in the world and with any application in the cloud. Our cloud networking services provide a better way for multinational clients to embrace the cloud. Our clients trust us to deliver solutions with simplicity, speed and agility so they can compete effectively in the global economy. For more information, visit www.gtt.net.
This release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which reflect the current views of GTT Communications, Inc., with respect to current events and financial performance. From time to time, GTT Communications, Inc., which we refer to as “we”, “us” or “our” and in some cases, “GTT” or the “Company”, also provides forward-looking statements in other materials GTT releases to the public or files with the United States Securities & Exchange Commission (“SEC”), as well as oral forward-looking statements. You should consult any further disclosures on related subjects in our quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC. Such forward-looking statements are and will be subject to many risks, uncertainties and factors relating to our operations and the business environment that may cause our actual results to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause GTT’s actual results to differ materially from these forward-looking statements include, but are not limited to, the following: our ability to obtain capital; our ability to develop and market new products and services that meet customer demands and generate acceptable margins; our reliance on several large customers; our ability to negotiate and enter into acceptable contract terms with our suppliers; our ability to attract and retain qualified management and other personnel; competition in the industry in which we do business; failure of the third-party communications networks on which we depend; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which we are engaged; our ability to maintain our databases, management systems and other intellectual property; our ability to maintain adequate liquidity and produce sufficient cash flow to fund our capital expenditures and debt service; technological developments and changes in the industry; our ability to complete acquisitions or divestitures and to integrate any business or operation acquired; our ability to overcome significant operating losses; and general economic conditions. Additional information concerning these and other important factors can be found under the heading "Risk Factors" in GTT's annual and quarterly reports filed with the Securities and Exchange Commission including, but not limited to, its Annual Report on Form 10-K. Statements in this release should be evaluated in light of these important factors.
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