On August 2, 2016, pre-market, the Company filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission reporting its second quarter 2016 results. The Company missed its profit expectations and lowered revenue guidance to the range of $360 million to $370 million, down from previous guidance in the range of $370 million to $390 million, and lowered its EBITDA forecast to the range of $80 million to $85 million, down from a previous forecast of $82 million - $92 million. On this news, Inteliquent stock fell $4.29, or 20.54%, to close at $16.60 on August 2, 2016. On September 19, 2016, post-market, Inteliquent announced the resignation of the Company's Chief Financial Officer, Kurt Abkemeier, effective September 23, 2016, citing Abkemeier's pursuit of "another career opportunity at a software company." On this news, Inteliquent stock fell $1.37, or 8.2%, to close at $15.34 on September 20, 2016.
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SOURCE Pomerantz LLP