x
|
QUARTERLY REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
o
|
TRANSITION REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
DELAWARE
|
91-2145721
|
(State or Other Jurisdiction
of
Incorporation or
Organization)
|
(I.R.S.
Employer
Identification
Number)
|
Large accelerated filer o | Non-accelerated filer o |
Accelerated filer x | Smaller reporting company o |
|
|
Pages
|
|
PART I. FINANCIAL
INFORMATION
|
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3
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4
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4
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5
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6
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7
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8
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13
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21
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22
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PART II. OTHER
INFORMATION
|
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24
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24
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24
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24
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SIGNATURES
|
|
Three
Months Ended
March
31,
|
||||||||
2008
|
2007
|
|||||||
Revenues:
|
||||||||
Internet
protocol (IP) services
|
$ | 31,124 | $ | 29,316 | ||||
Data
center services
|
25,185 | 18,098 | ||||||
Content
delivery network (CDN) services
|
5,744 | 2,052 | ||||||
Other
|
— | 4,068 | ||||||
Total
revenues
|
62,053 | 53,534 | ||||||
Operating
costs and expenses:
|
||||||||
Direct
costs of network, sales and services, exclusive of
depreciation
and amortization shown
below:
|
||||||||
IP
services
|
11,290 | 10,340 | ||||||
Data
center services
|
18,124 | 14,305 | ||||||
CDN
services
|
1,949 | 663 | ||||||
Other
|
— | 3,321 | ||||||
Direct
costs of amortization of acquired technology
|
1,229 | 653 | ||||||
Direct
costs of customer support
|
4,365 | 3,388 | ||||||
Product
development
|
2,291 | 1,255 | ||||||
Sales
and marketing
|
8,829 | 6,189 | ||||||
General
and administrative
|
8,003 | 7,832 | ||||||
Restructuring
and asset impairment
|
— | 11,349 | ||||||
Acquired
in-process research and development
|
— | 450 | ||||||
Depreciation
and amortization
|
5,381 | 4,912 | ||||||
Gain
on disposals of property and equipment
|
(16 | ) | (4 | ) | ||||
Total
operating costs and expenses
|
61,445 | 64,653 | ||||||
Income
(loss) from operations
|
608 | (11,119 | ) | |||||
Non-operating
(income) expense:
|
||||||||
Interest
income
|
(701 | ) | (693 | ) | ||||
Interest
expense
|
310 | 223 | ||||||
Other,
net
|
81 | 2 | ||||||
Total
non-operating (income) expense
|
(310 | ) | (468 | ) | ||||
Income
(loss) before income taxes and equity in earnings of equity method
investment
|
918 | (10,651 | ) | |||||
Provision
for income taxes
|
251 | 50 | ||||||
Equity
in earnings of equity-method investment, net of taxes
|
(72 | ) | (6 | ) | ||||
Net
Income (loss)
|
$ | 739 | $ | (10,695 | ) | |||
Net
income (loss) per share:
|
||||||||
Basic
|
$ | 0.02 | $ | (0.26 | ) | |||
Diluted
|
$ | 0.01 | $ | (0.26 | ) | |||
Weighted
average shares used in per share calculations:
|
||||||||
Basic
|
49,110 | 40,997 | ||||||
Diluted
|
49,330 | 40,997 | ||||||
March
31,
2008
|
December
31,
2007
|
|||||||
ASSETS
|
||||||||
Current
assets:
|
||||||||
Cash
and cash equivalents
|
$ | 49,850 | $ | 52,030 | ||||
Short-term
investments in marketable securities
|
12,429 | 19,569 | ||||||
Accounts
receivable, net of allowance of $5,124 and $5,470,
respectively
|
32,956 | 36,429 | ||||||
Inventory
|
502 | 304 | ||||||
Prepaid
expenses and other assets
|
10,445 | 8,464 | ||||||
Deferred
tax asset, current portion
|
749 | 479 | ||||||
Total
current assets
|
106,931 | 117,275 | ||||||
Property
and equipment, net of accumulated depreciation of $170,421 and $165,543,
respectively
|
70,596 | 65,491 | ||||||
Investments
|
8,085 | 1,138 | ||||||
Intangible
assets, net of accumulated amortization of $25,482 and $23,921,
respectively
|
41,448 | 43,008 | ||||||
Goodwill
|
190,677 | 190,677 | ||||||
Restricted
cash
|
2,127 | 4,120 | ||||||
Deferred
tax asset, non-current
|
2,610 | 3,014 | ||||||
Deposits
and other assets
|
3,497 | 2,287 | ||||||
Total
assets
|
$ | 425,971 | $ | 427,010 | ||||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
||||||||
Current
liabilities:
|
||||||||
Notes
payable, current portion
|
$ | 3,667 | $ | 2,413 | ||||
Accounts
payable
|
18,150 | 19,624 | ||||||
Accrued
liabilities
|
8,589 | 10,159 | ||||||
Deferred
revenue, current portion
|
3,765 | 4,807 | ||||||
Capital
lease obligations, current portion
|
833 | 805 | ||||||
Restructuring
liability, current portion
|
2,051 | 2,396 | ||||||
Other
current liabilities
|
110 | 108 | ||||||
Total
current liabilities
|
37,165 | 40,312 | ||||||
Notes
payable, less current portion
|
16,121 | 17,354 | ||||||
Deferred
revenue, less current portion
|
2,842 | 2,275 | ||||||
Capital
lease obligations, less current portion
|
233 | 452 | ||||||
Restructuring
liability, less current portion
|
7,389 | 7,697 | ||||||
Deferred
rent
|
11,567 | 11,011 | ||||||
Deferred
tax liability
|
515 | 398 | ||||||
Other
long-term liabilities
|
849 | 878 | ||||||
Total
liabilities
|
76,681 | 80,377 | ||||||
Commitments
and Contingencies
|
||||||||
Stockholders'
equity:
|
||||||||
Preferred
stock, $0.001 par value, 200,000 shares authorized, none issued or
outstanding
|
— | — | ||||||
Common
stock, $0.001 par value; 60,000 shares authorized; 50,234 and 49,759
shares
outstanding
at March 31, 2008 and December 31, 2007,
respectively
|
50 | 50 | ||||||
Additional
paid-in capital
|
1,210,532 | 1,208,191 | ||||||
Accumulated
deficit
|
(861,271 | ) | (862,010 | ) | ||||
Accumulated
other comprehensive income
|
114 | 402 | ||||||
Treasury
stock, at cost, 23 shares at March 31, 2008
|
(135 | ) | — | |||||
Total
stockholders' equity
|
349,290 | 346,633 | ||||||
Total
liabilities and stockholders' equity
|
$ | 425,971 | $ | 427,010 |
Three
months ended
March
31,
|
||||||||
2008
|
2007
|
|||||||
CASH
FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Net
income (loss)
|
$ | 739 | $ | (10,695 | ) | |||
Adjustments
to reconcile net income (loss) to net cash used in operating
activities:
|
||||||||
Asset
impairment
|
— | 2,454 | ||||||
Acquired
in-process research and development
|
— | 450 | ||||||
Depreciation
and amortization
|
6,610 | 5,565 | ||||||
Gain
on disposal of assets
|
(16 | ) | (4 | ) | ||||
Provision
for doubtful accounts and billing adjustments
|
655 | 189 | ||||||
Income
from equity method investment
|
(72 | ) | (6 | ) | ||||
Non-cash
changes in deferred rent
|
556 | (1,133 | ) | |||||
Stock-based
compensation expense
|
2,375 | 1,625 | ||||||
Deferred
income taxes
|
251 | — | ||||||
Other,
net
|
(62 | ) | 14 | |||||
Changes
in operating assets and liabilities, excluding effects of
acquisition:
|
||||||||
Accounts
receivable
|
2,818 | (2,281 | ) | |||||
Inventory
|
(198 | ) | (41 | ) | ||||
Prepaid
expenses, deposits and other assets
|
(3,195 | ) | (2,343 | ) | ||||
Accounts
payable
|
(1,474 | ) | 4,884 | |||||
Accrued and
other liabilities
|
(1,833 | ) | (2,580 | ) | ||||
Deferred
revenue
|
(475 | ) | 456 | |||||
Accrued
restructuring charge
|
(653 | ) | 9,584 | |||||
Net
cash provided by operating activities
|
6,026 | 6,138 | ||||||
CASH
FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Purchases
of property and equipment
|
(10,123 | ) | (3,786 | ) | ||||
Purchases
of investments in marketable securities
|
(9,321 | ) | (6,367 | ) | ||||
Maturities
of investments in marketable securities
|
9,379 | 5,536 | ||||||
Proceeds
from disposal of property and equipment
|
16 | — | ||||||
Cash
received from acquisition, net of costs incurred for the
transaction
|
— | 3,203 | ||||||
Change
in restricted cash
|
1,993 | — | ||||||
Net
cash used in investing activities
|
(8,056 | ) | (1,414 | ) | ||||
CASH
FLOWS FROM FINANCING ACTIVITIES
|
||||||||
Principal
payments on notes payable
|
— | (1,260 | ) | |||||
Payments
on capital lease obligations
|
(191 | ) | (594 | ) | ||||
Proceeds
from stock compensation plans
|
64 | 3,723 | ||||||
Other,
net
|
(23 | ) | (12 | ) | ||||
Net
cash (used in) provided by financing activities
|
(150 | ) | 1,857 | |||||
Net
(decrease) increase in cash and cash equivalents
|
(2,180 | ) | 6,581 | |||||
Cash
and cash equivalents at beginning of period
|
52,030 | 45,591 | ||||||
Cash
and cash equivalents at end of period
|
$ | 49,850 | $ | 52,172 | ||||
SUPPLEMENTAL
DISCLOSURE OF NON-CASH INFORMATION:
|
||||||||
Common
stock issued and stock options assumed for acquisition of
VitalStream
|
$ | — | $ | 208,293 |
Common Stock
|
||||||||||||||||||||||||||||
Accumulated
|
|
|||||||||||||||||||||||||||
Additional
|
Other
|
|
Total
|
|||||||||||||||||||||||||
Par
|
Paid-In
|
Accumulated
|
Comprehensive
|
Treasury
|
Stockholders'
|
|||||||||||||||||||||||
Shares
|
Value
|
Capital
|
Deficit
|
Income
|
Stock
|
Equity
|
||||||||||||||||||||||
Three
months ended
March
31, 2008:
|
||||||||||||||||||||||||||||
Balance,
December 31, 2007
|
49,759
|
$
|
50
|
$
|
1,208,191
|
$
|
(862,010
|
)
|
$
|
402
|
$
|
—
|
$
|
346,633
|
||||||||||||||
Net
income
|
—
|
—
|
—
|
739
|
—
|
—
|
739
|
|||||||||||||||||||||
Change
in unrealized gains and losses on
investments,
net of taxes
|
—
|
—
|
—
|
—
|
(345
|
)
|
—
|
(345
|
)
|
|||||||||||||||||||
Foreign
currency translation adjustment
|
—
|
—
|
—
|
—
|
57
|
—
|
57
|
|||||||||||||||||||||
Total
comprehensive income
|
451
|
|||||||||||||||||||||||||||
Stock
compensation plans activity
|
49
|
—
|
198
|
—
|
—
|
—
|
198
|
|||||||||||||||||||||
Stock-based
compensation
|
426
|
—
|
2,143
|
—
|
—
|
(135
|
)
|
2,008
|
||||||||||||||||||||
Balance, March
31, 2008
|
50,234
|
$
|
50
|
$
|
1,210,532
|
$
|
(861,271
|
)
|
$
|
114
|
$
|
(135
|
)
|
$
|
349,290
|
Three
months ended
March
31, 2007:
|
||||||||||||||||||||||||||||
Balance,
December 31, 2006
|
35,873
|
$
|
36
|
$
|
982,624
|
$
|
(856,455
|
)
|
$
|
320
|
$
|
—
|
$
|
126,525
|
||||||||||||||
Net
loss
|
—
|
—
|
—
|
(10,695
|
)
|
—
|
—
|
(10,695
|
)
|
|||||||||||||||||||
Change
in unrealized gains and losses on
investments,
net of taxes
|
—
|
—
|
—
|
—
|
83
|
—
|
83
|
|||||||||||||||||||||
Foreign
currency translation adjustment
|
—
|
—
|
—
|
—
|
(38
|
)
|
—
|
(38
|
)
|
|||||||||||||||||||
Total
comprehensive loss
|
(10,650
|
)
|
||||||||||||||||||||||||||
Stock
issued in connection with VitalStream acquisition
|
12,206
|
12
|
208,281
|
—
|
—
|
—
|
208,293
|
|||||||||||||||||||||
Stock
compensation plans activity
|
575
|
1
|
3,723
|
—
|
—
|
—
|
3,724
|
|||||||||||||||||||||
Stock-based
compensation
|
312
|
—
|
1,625
|
—
|
—
|
—
|
1,625
|
|||||||||||||||||||||
Balance, March
31, 2007
|
48,966
|
$
|
49
|
$
|
1,196,253
|
$
|
(867,150
|
)
|
$
|
365
|
$
|
—
|
$
|
329,517
|
1.
|
Nature
Of Operations And Basis Of
Presentation
|
Three
Months Ended March 31, 2007
|
||||||||||||||||||||
IP
Services
|
Data
Center
Services
|
CDN
Services
|
Other
|
Total
|
||||||||||||||||
Revenues:
|
||||||||||||||||||||
Previously
reported
|
$
|
29,037
|
$
|
18,303
|
$
|
2,052
|
$
|
4,142
|
$
|
53,534
|
||||||||||
Reclassification
of sales credits and billing adjustments
|
(328
|
)
|
(295
|
)
|
--
|
623
|
--
|
|||||||||||||
Reclassification
of termination fees and professional and reseller products and
services
|
607
|
90
|
--
|
(697
|
)
|
--
|
||||||||||||||
Revised
|
$
|
29,316
|
$
|
18,098
|
$
|
2,052
|
$
|
4,068
|
$
|
53,534
|
||||||||||
Direct
costs of network, sales and services, exclusive of depreciation
and
amortization:
|
||||||||||||||||||||
Previously
reported
|
$
|
10,223
|
$
|
14,305
|
$
|
663
|
$
|
3,438
|
$
|
28,629
|
||||||||||
Reclassification
of professional and reseller products and services
|
117
|
--
|
--
|
(117
|
)
|
--
|
||||||||||||||
Revised
|
$
|
10,340
|
$
|
14,305
|
$
|
663
|
$
|
3,321
|
$
|
28,629
|
2.
|
Fair
Value
|
•
|
Level
1 - Quoted prices in active markets for identical assets or
liabilities;
|
|
•
|
Level
2 - Inputs other than Level 1 that are observable, either directly or
indirectly, such as quoted prices for similar assets or liabilities;
quoted prices in markets that are not active or other inputs that are
observable or can be corroborated by observable market data for
substantially the full term of the assets or liabilities;
and
|
|
•
|
Level
3 - Unobservable inputs that are supported by little or no market activity
and that are significant to the fair value of the assets or
liabilities.
|
Level
1
|
Level
2
|
Level
3
|
Total
|
|||||||||||||
Money
market funds and other
|
$ | 33,307 | $ | — | $ | — | $ | 33,307 | ||||||||
Corporate
debt securities
|
— | 7,643 | — | 7,643 | ||||||||||||
Commercial
paper
|
— | 14,474 | — | 14,474 | ||||||||||||
Auction
rate securities
|
— | — | 6,820 | 6,820 | ||||||||||||
Total
|
$ | 33,307 | $ | 22,117 | $ | 6,820 | $ | 62,244 |
Auction
rate
securities
|
||||
Balance
at December 31, 2007
|
$ | 7,150 | ||
Unrealized
loss included in other comprehensive income
|
(330 | ) | ||
Balance
at March 31, 2008
|
$ | 6,820 |
3.
|
Business
Combination
|
Three
Months
Ended
March 31,
|
||||
2007
|
||||
Pro
forma revenue
|
$
|
55,862
|
||
Pro
forma net loss
|
(14,213
|
)
|
||
Pro
forma net loss per share, basic and diluted
|
(0.31
|
)
|
4.
|
Segments
|
Three
Months Ended March 31, 2008
|
|||||||||||||||
IP
Services
|
Data
Center
Services
|
CDN
Services
|
Other
|
Total
|
|||||||||||
Revenues
|
$
|
31,124
|
$
|
25,185
|
$
|
5,744
|
$
|
—
|
$
|
62,053
|
|||||
Direct
costs of network, sales and services, exclusive of
depreciation
and amortization
|
|||||||||||||||
11,290
|
18,124
|
1,949
|
—
|
31,363
|
|||||||||||
Segment
profit
|
$
|
19,834
|
$
|
7,061
|
$
|
3,795
|
$
|
—
|
30,690
|
||||||
Other
operating expenses
|
30,082
|
||||||||||||||
Income
from operations
|
608
|
||||||||||||||
Non-operating
income
|
310
|
||||||||||||||
Income
before income taxes and equity in
|
|||||||||||||||
earnings
of equity-method investment
|
$
|
918
|
Three
Months Ended March 31, 2007
|
|||||||||||||||
IP
Services
|
Data
Center
Services
|
CDN
Services
|
Other
|
Total
|
|||||||||||
Revenues
|
$
|
29,316
|
$
|
18,098
|
$
|
2,052
|
$
|
4,068
|
$
|
53,534
|
|||||
Direct
costs of network, sales and services, exclusive of
depreciation
and amortization
|
|||||||||||||||
10,340
|
14,305
|
663
|
3,321
|
28,629
|
|||||||||||
Segment
profit
|
$
|
18,976
|
$
|
3,793
|
$
|
1,389
|
$
|
747
|
24,905
|
||||||
Other
operating expenses
|
36,024
|
||||||||||||||
Loss
from operations
|
(11,119
|
)
|
|||||||||||||
Non-operating
income
|
468
|
||||||||||||||
Loss
before income taxes and equity in
|
|||||||||||||||
earnings
of equity-method investment
|
$
|
(10,651
|
)
|
5.
|
Stock-Based
Compensation
|
6.
|
Net
Income (Loss) Per Share
|
Three
months ended
March
31,
|
||||||||
2008
|
2007
|
|||||||
Net
income (loss)
|
$ | 739 | $ | (10,695 | ) | |||
Weighed
average shares outstanding, basic
|
49,110 | 40,997 | ||||||
Effect
of dilutive securities:
|
||||||||
Stock
compensation plans
|
220 | — | ||||||
Weighted
average shares outstanding, diluted
|
49,330 | 40,997 | ||||||
Basic
net income (loss) per share
|
$ | 0.02 | $ | (0.26 | ) | |||
Diluted
net income (loss) per share
|
$ | 0.01 | $ | (0.26 | ) | |||
Anti-dilutive
securities not included in diluted net income (loss) per share
calculation:
|
||||||||
Stock
compensation plans
|
2,981 | 4,521 | ||||||
Warrants
to purchase common stock
|
34 | 34 | ||||||
Total
anti-dilutive securities
|
3,015 | 4,555 |
7.
|
Contingencies
and Litigation
|
8.
|
Income
Taxes
|
9.
|
Restructuring
and Asset Impairment
|
December
31,
2007
Restructuring
Liability
|
Cash
Payments
|
March
31,
2008
Restructuring
Liability
|
||||||||
Activity
for 2007 restructuring charge:
|
||||||||||
Real
estate obligations
|
$
|
6,312
|
$
|
(186
|
)
|
$
|
6,126
|
|||
Employee
separations
|
406
|
(268
|
)
|
138
|
||||||
Total
2007 restructuring activity
|
6,718
|
(454
|
)
|
6,264
|
||||||
Activity
for 2001 restructuring charge:
|
||||||||||
Real
estate obligations
|
3,375
|
(199
|
)
|
3,176
|
||||||
Total
|
$
|
10,093
|
$
|
(653
|
)
|
$
|
9,440
|
10.
|
Recent
Accounting Pronouncements
|
|
·
|
costs
for connecting to and accessing Internet network service providers, or
ISPs, and competitive local exchange providers;
|
|
·
|
facility
and occupancy costs for housing and operating our and our customers’
network equipment;
|
|
·
|
costs
of license fees for operating systems software, advertising royalties to
content rights owners and advertising distribution
costs;
|
|
·
|
costs
incurred for providing additional third party services to our customers;
and
|
|
·
|
costs
of FCP solutions sold.
|
Three
Months Ended
March
31,
|
||||||
2008
|
2007
|
|||||
Revenues:
|
||||||
Internet
protocol (IP) services
|
50.1
|
%
|
54.8
|
%
|
||
Data
center services
|
40.6
|
33.8
|
||||
Content
delivery network (CDN) services
|
9.3
|
3.8
|
||||
Other
|
—
|
7.6
|
||||
Total
revenues
|
100.0
|
100.0
|
||||
Operating
expenses:
|
||||||
Direct
costs of network, sales and services, exclusive of depreciation
and
amortization shown
below:
|
||||||
IP
services
|
18.2
|
19.3
|
||||
Data
center services
|
29.2
|
26.7
|
||||
CDN
services
|
3.1
|
1.2
|
||||
Other
|
—
|
6.2
|
||||
Direct
costs of amortization of acquired technology
|
2.0
|
1.2
|
||||
Direct
costs of customer support
|
7.0
|
6.3
|
||||
Product
development
|
3.7
|
2.4
|
||||
Sales
and marketing
|
14.2
|
11.6
|
||||
General
and administrative
|
12.9
|
14.6
|
||||
Restructuring
and asset impairment
|
—
|
21.2
|
||||
Acquired
in-process research and development
|
—
|
0.9
|
||||
Depreciation
and amortization
|
8.7
|
9.2
|
||||
Total
operating costs and expenses
|
99.0
|
120.8
|
||||
Income
(loss) from operations
|
1.0
|
%
|
(20.8)
|
%
|
Three
Months Ended
March
31,
|
||||||||
2008
|
2007
|
|||||||
Direct
costs of customer support
|
$ | 486 | $ | 333 | ||||
Product
development
|
253 | 201 | ||||||
Sales
and marketing
|
474 | 526 | ||||||
General
and administrative
|
1,162 | 565 | ||||||
$ | 2,375 | $ | 1,625 |
·
|
A single,
common logging system for customers to record all disputes, disconnects
and requests for credits,
|
|
·
|
A weekly
review of a customer request log with appropriate designated management
and approval pursuant to the schedule of authorization,
|
|
·
|
A more
robust, proactive tracking of customer usage patterns and overall customer
satisfaction, and
|
|
·
|
Perform
a review by the appropriate designated finance management of the
accounting estimates developed from the relevant, sufficient, and reliable
data collected above
|
Period
|
(a)
Total Number of
Shares (or Units)
Purchased 1
|
(b)
Average Price
Paid per Share
(or Unit)
|
(c)
Total Number of
Shares (or Units)
Purchased as Part
of Publicly
Announced Plans
or Programs
|
(d)
Maximum
Number (or
Approximate
Dollar Value) of
Shares (or Units)
that May Yet Be
Purchased Under
the Plans or
Programs
|
|||||||||||
January
2008
|
— | $ | — | — | — | ||||||||||
February
2008
|
6,071 | 7.82 | — | — | |||||||||||
March
2008
|
17,112 | 5.10 | — | — | |||||||||||
Total
|
23,183 | $ | 5.81 | — | — |
Exhibit
Number
|
Description
|
|
10.1
|
2008
Executive Bonus Award Incentive Plan (incorporated by reference herein to
Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on March
24, 2008).†
|
|
10.2
|
2008
Long-Term Incentive Plan (incorporated by reference herein to Exhibit 10.2
to the Company’s Current Report on Form 8-K filed on March 24, 2008).
†
|
|
10.3
|
Joinder
Agreement to the Employment Security Plan executed by George E. Kilguss,
III (incorporated by reference herein to Exhibit 99.1 to the Company’s
Current Report on Form 8-K filed on March 28, 2008). †
|
|
31.1*
|
Rule
13a-14(a)/15d-14(a) Certification, executed by James P. DeBlasio,
President, Chief Executive Officer and Director of the
Company.
|
|
31.2*
|
Rule
13a-14(a)/15d-14(a) Certification, executed by George E. Kilguss, III,
Vice President and Chief Financial Officer of the
Company.
|
|
32.1*
|
Section
1350 Certification, executed by James P. DeBlasio, President, Chief
Executive Officer and Director of the Company.
|
|
32.2*
|
Section
1350 Certification, executed by George E. Kilguss, III, Vice President and
Chief Financial Officer of the
Company.
|
INTERNAP
NETWORK SERVICES CORPORATION
(Registrant)
|
||
By:
|
/s/
George E. Kilguss, III
|
|
George
E. Kilguss, III
|
||
Vice
President and Chief Financial Officer
|
||
(Principal
Financial and Accounting Officer)
|
||
Date:
May 12, 2008
|