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[lui2]

Thursday April 26, 8:13 am Eastern Time Press Release

iBasis Achieves Record First Quarter 2001 Revenue and Minutes

Strong Demand for VoIP Services, Increased Overseas Origination, Network Utilization Produce $2.86 Million in PositiveGross
Margin on Revenues of $27.05 Million

BURLINGTON, Mass.--(BUSINESS WIRE)--April 26, 2001-- iBasis, Inc. (Nasdaq: IBAS - news) today announced results for the
first quarter ended March
31, 2001. These results reflect contributions from the company`s acquisition of speech applications service provider PriceInteractive. On
an actual basis, with the
PriceInteractive transaction closing on Feb. 27, 2001, first quarter revenue was $27.05 million, a 178.2% increase over first quarter
2000 revenue of $9.73 million.
Net loss before acquisition-related and non-cash compensation charges for the first quarter 2001, which includes depreciation and
amortization expense of $6.94
million as well as a reserve for bad debt of $5.2 million, was $26.15 million, or $0.69 per share based on 37.87 million weighted
average shares outstanding. This
compares to a first quarter 2000 net loss before non-cash compensation charges of $10.51 million, or $0.33 per share based on 32.21
million weighted average
shares outstanding. Including acquisition-related charges of $26.80 million, the company recorded a first quarter 2001 net loss of $53.15
million, or a loss of $1.40
per share based on 37.87 million weighted average shares outstanding. Acquisition-related charges include a write-off of acquired
in-process research and
development costs of $24.43 million and the amortization of acquired intangible assets of $2.36 million.

On a pro forma basis, assuming the company had completed the acquisition of PriceInteractive as of January 1, 2001, iBasis recorded
approximately $30.60 million
in revenue for the quarter, 20% of which came from enhanced services. Pro forma loss before acquisition-related and non-cash
compensation charges, but including
a reserve for bad debt of $5.3 million, was $27.39 million, or a loss before acquisition-related and non-cash compensation charges of
$0.63 per share based on
43.68 million weighted average shares outstanding. Inclusive of combined $31.53 million in acquisition-related charges, pro forma net
loss was $59.24 million, or a
pro forma net loss of $1.36 per share based on 43.68 million weighted average shares outstanding.

``In the first quarter, we continued to demonstrate the superiority of the iBasis Network, our carrier-grade voice over IP infrastructure,``
said Ofer Gneezy, president and CEO of iBasis. ``Contributing to our quarterly performance was increasing demand from tier one
carriers for our core international VoIP services, as well as healthy growth in overseas origination. We also completed the acquisition of
PriceInteractive, whose speech services accounted for 20% of pro forma first quarter revenue. These new revenues from our enhanced
services business played an important role in improving our total gross margin and our margin as a percentage of revenue.``

Cost Reduction Measures
``Our business continues to grow rapidly,`` said Mr. Gneezy. ``We believe that being a service provider with relatively light infrastructure,
we are less susceptible to
weakness in the economy. Nonetheless, we are instituting new cost containment measures across the company, including a 15%
workforce reduction. We are also
sharpening our focus on near-term revenue opportunities and improving the operational efficiency of our business. We are confident that
with this streamlining of our operations and our continuing strong cash position, we are fully-funded and on-track to reach profitability by
this time next year.``

Key Indicators

Minutes of use in the first quarter rose to 290.5 million minutes, a 241% increase over the 85.2 million minutes carried by The iBasis
Network in Q1 2000. Pro
forma total minutes of use were 309.3 million minutes for the first quarter.

The company`s total overseas lines were 15,700 at the end of the first quarter of 2001, a 313.2% increase from 3,800 lines at the end of
the first quarter of 2000.
With approximately 82% of iBasis traffic originating in the US and terminating overseas, the company believes that the number of
overseas lines remains an indicator of the total capacity of its global network.
The total number of Points of Presence (PoP`s) in the iBasis Network rose to 540 compared with 112 at the end of the first quarter
2000, an increase of 382%.
Sequentially, PoP`s increased 26.7% compared with the 426 PoP`s in service at the end of the fourth quarter 2000.
Pro forma average revenue per minute for the quarter rose to 8.9 cents, with actual revenue per minute declining slightly from 8.84 cents
per minute in Q4 2000 to
8.52 cents in Q1 2001.

Operational Milestones
During the first quarter 2001, the company continued to increase the percentage of traffic it routes for the world`s largest carriers (known
in the industry as ``tier one``
carriers). Tier one carriers generated more than 39% of revenue and 37% of all traffic routed over The iBasis Network in the first
quarter compared with 30.7% of
revenue and 31.6% of all traffic in the fourth quarter 2000.
iBasis continued to increase the percentage of overseas-originated voice traffic it carries, which improves network utilization and
generally produces higher margins
than US-originated voice traffic. In the first quarter 2001, overseas-originated calls accounted for more than 23.5% of revenue and 18%
of iBasis traffic, up from
17% of revenue and 11.7% of iBasis traffic in the fourth quarter 2000.
The company continued to expand its geographic reach during the first quarter, ending the quarter with 65 countries on The iBasis
Network, up from 26 countries at the end of the first quarter 2000. iBasis finished the quarter with more than 110 carrier customers, up
from 72 at the end of the first quarter of 2000.
iBasis experienced its first four million minute day in the first quarter, a new peak volume benchmark for The iBasis Network.
Underscoring the increasing scale of
iBasis` global VoIP service, the company opened a new Network Operations Center (NOC) in Hong Kong in the first quarter. A mirror
site of the first iBasis NOC, located at the company`s US headquarters near Boston, the Hong Kong NOC will help iBasis further scale
its services and increase overseas origination, which will help improve utilization on The iBasis Network. The Hong Kong NOC will also
help iBasis to more efficiently manage its global network operations and reduce its network engineering and staffing costs by transferring
more of its traffic management and monitoring tasks to less costly daylight hour shifts. This increased
operational efficiency will help enable iBasis to continue to scale its global VoIP capacity and deliver faster, more effective support
services to its customers, without
regard to time zone, culture or language.
iBasis also made progress in its efforts to establish itself as a leader in speech-enabled services. Late in the first quarter, the company
completed its acquisition of PriceInteractive, a leading speech application service provider whose customers include AT&T,
ExxonMobil, Gannett, H&R Block, Home Shopping Network,
Morgan Stanley, Sabre Group, WorldCom, Sprint, Verizon, and Western Union, for approximately $46 million in cash and
approximately 10.23 million shares of
iBasis stock. (See iBasis, Inc. Completes Acquisition Of Leading Speech Application Service Provider PriceInteractive, Inc. -- Feb. 28,
2001). PriceInteractive products and services give enterprises and service providers the ability to speech-enable business-critical,
customer-facing solutions, such as e-commerce, call-center, employee self-service, product and sales information, customer care and
other interactive applications. The acquisition of PriceInteractive is an important step in iBasis` strategy to enhance the capabilities of its
global VoIP infrastructure with new, speech-enabled services that combine the power of the Internet with the convenience, simplicity
and ubiquity of the phone.

Financial Milestones
Gross margins increased to 10.6% of revenue during the quarter, up from 4.8% in the fourth quarter 2000. Pro forma gross margins
were approximately $4.59
million, or 15% of pro forma revenue of $30.6 million.
The company recorded an EBITDA loss of $19.14 million in the first quarter of 2001. The EBITDA loss includes a charge for bad debt
expense of $5.2 million to
build reserves that the company believes will be sufficient to cover potential credit risk from non-Tier One carrier customers. The
bankruptcy filings of a number of
second and third tier international carriers during the quarter were important factors in the company`s decision to establish these reserves.
We believe that credit risk
will be mitigated as we continue to grow our Tier One revenue base as evidenced by the 27% increase in revenue from Tier One carriers
experienced during this
past quarter.
The company`s total cash position (including marketable securities) decreased by approximately $77 million during the quarter. The
decrease was primarily due to
the following items: purchase of PriceInteractive and related acquisition cash costs, net of acquired cash, $34.7 million; EBITDA loss
(net of a $5.2 million reserve
for bad debt, a non-cash charge), $13.9 million; cash capital expenditure, $11.3 million, interest payments on bonds, $4.3 million;
principal payments on capital
leases, $5.2 million; as well as changes in working capital. Total capital expenditure during the quarter was $14.77 million.

Guidance

With more than $223 million in cash, cash equivalents and marketable securities as of March 31, 2001, iBasis
believes that it continues to be fully funded for growth through profitability.

iBasis continues to anticipate achieving total 2001 revenue in the range of $150-160 million, and iBasis believes that it will achieve
positive EBITDA in the fourth
quarter of 2001. In addition, iBasis believes that it will become net income positive in the first quarter of 2002. The company`s
steady-state gross margin target is
25%-35%. iBasis expects steady-state gross margin target in the core VoIP business to be 20-25%.

In 2001, iBasis anticipates spending in the range of $30-40 million in capital expenditures. It is the company`s goal to fund approximately
80% of its capital
expenditure budget through outside financing, including vendor financing.

iBasis expects to end the year with more than $160 million in cash, cash equivalents and marketable securities.

The company also anticipates that in the second quarter it will take an aggregate charge of approximately $35 million. This charge
includes the write-off of fixed
assets and associated contractual obligations relating to certain non-revenue generating ICOs and data centers, as well as severance
expense in connection with a reduction in force.
The iBasis Network: A Carrier-Class Global Infrastructure For Enhanced Voice Services
The iBasis Network is a robust, global platform for the delivery of IP-based communications services, including wholesale,
phone-to-phone VoIP and enhanced
services, such as unified communications and speech-enabled business solutions. The company`s global network delivers IP-based voice
services using Internet
Telephony equipment from Cisco Systems deployed in large, carrier-class switching and application hosting facilities called Internet
Central Offices(TM),
strategically located in major telecommunications hubs in North America, Europe, Latin America and Asia. The network also comprises
numerous smaller points of
presence called Internet Branch Offices(TM), which play an important role in connecting providers to iBasis services. With this global
infrastructure in 65 countries
and through its relationships with other communications providers, iBasis can provide IP-based voice services virtually anywhere in the
world. iBasis is the only
provider that guarantees service quality by offering the industry`s first Service Level Agreement (SLA) for VoIP
(Voice-over-Internet-Protocol). The key to
maintaining the high level of quality required by the world`s largest carriers is the company`s proven, proprietary Assured Quality
Routing(TM) (AQR(TM))
technology. At the company`s 24 x 7 Network Operations Centers (NOC) in Burlington, Mass., USA and Hong Kong, the nerve
centers of The iBasis Network,
engineers continuously monitor the global circuit-switched (PSTN) and packet-switched (IP) networks to ensure the highest quality of
service to customers
worldwide.

http://quote.yahoo.com/q?s=ibas&d=c

[django]

Super Zahlen??????

Verlust 2xUmsatz!!!

[tbu.to-hrct-ftrl]

hi django...

du hast schon recht mit deiner aussage...
nur sollte man in die zukunft sehen...,wenn ich dem
managment glauben schenke... erreichen die im 1 quartal
2002 ja ein positives ebit..ausserdem sind die margin sehr hoch...und der cash-bestand ist 2x so hoch wie die derzeitige mk!!!...
also ich würd meinen die firma ist weit davon entfernt... bankrott zu gehen...

am 30. gibs bei mir den zahltag... und ich kauf den nochamol dazu

gruss
charly

[lui2]

Danke für Eure Meinung!
Was mir positiv aufgefallen ist,ist daß man die
nächsten 5 Jahre mit 100% Wachstum rechnet,-
pro Jahr! Mit sehr viel, und zunehmend Bargeld
in der Kasse. Sind doch gute News!? Und da für dieses
Papier schon mal $100.- bezahlt wurde, kann ich bei nur
noch $ 3.- ein weiteres Minus von 25% nicht nachvollziehen!