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Spok Reports 2019 Second Quarter Operating Results; Software Bookings up More Than 15 Percent From Prior Year; Continued Strong Wireless Trends
Board Declares Regular Quarterly Dividend SPRINGFIELD, Va.--(BUSINESS WIRE)-- Spok Holdings, Inc. (NASDAQ: SPOK), a global leader in healthcare
About this update from Spok Holdings, Inc.
[{"type":"text","content":"\nBoard Declares Regular Quarterly Dividend\n\n SPRINGFIELD, Va.--(BUSINESS WIRE)--\nSpok Holdings, Inc. (NASDAQ: SPOK), a global leader in healthcare communications, today announced operating results for the second quarter ended June 30, 2019. In addition, the Company’s Board of Directors declared a regular quarterly dividend of $0.125 per share, payable on September 10, 2019, to stockholders of record on August 16, 2019.\n\n\nKey Second Quarter Operating Highlights:\n\n\n\nSecond quarter software revenue of $17.4 million was up more than 2.5 percent from software revenue of $17.0 million in the prior year quarter. Included in second quarter software revenue was $7.4 million of operations revenue and $10.0 million in maintenance revenue, compared to $7.5 million in operations revenue and $9.5 million in maintenance revenue in the second quarter of 2018.\n\n\nSoftware bookings in the second quarter totaled $21.3 million. Second quarter bookings included $9.2 million of operations bookings and a record $12.1 million of maintenance renewals.\n\n\nThe renewal rate for software maintenance revenue in the second quarter of 2019 continued to exceed 99 percent.\n\n\nThe quarterly rate of paging unit erosion was 0.5 percent in the second quarter of 2019, which matched the record low historical quarterly performance. This also compares to paging unit erosion of 1.0 percent in the prior quarter and 0.6 percent in the year-earlier period. Net paging unit losses were 5,000 in the second quarter of 2019, compared to 10,000 in the prior quarter and 6,000 in the second quarter of 2018. Paging units in service at June 30, 2019, totaled 977,000, compared to 1,024,000 at June 30, 2018.\n\n\nFor the second consecutive quarter, the rate of wireless revenue erosion was 2.1 percent, down from 2.5 percent erosion in the second quarter of 2018.\n\n\nTotal paging ARPU (average revenue per unit) was $7.26 in the second quarter of 2019, compared to $7.32 in the prior quarter and $7.41 in the year-earlier quarter.\n\n\nOperating expenses in the second quarter of 2019 totaled $41.5 million, compared to $43.0 million in the prior year quarter. Adjusted operating expenses (excludes depreciation, amortization and accretion) totaled $39.2 million in the second quarter of 2019, compared to $38.3 million in the prior quarter and $40.3 million in the year-earlier ...