In an April 19 story about Premiere Global Services, The Associated Press reported erroneously that the company's first quarter net income rose to $8.9 billion from $7.6 billion in the prior year period. Both figures should have been reported in millions. A corrected version appears below.
Premiere Global Services Inc., which provides business communication services, said earnings edged upwards in the first quarter, helped by growing demand for conference-related business.
Net income for the quarter ended March 31 rose to $8.9 million from $7.6 million in the prior year period. Sales for the quarter rose more than 10 percent to $135.6 million from $121.7 million in 2006.
Premiere got a boost from its conferencing solutions business, which grew 27 percent to $84.8 million from $66.8 million. Those gains were offset by a 20 percent decrease in revenue from fax services, which dropped to $19.6 million from $24.7 million last year.
Shares of Premiere Global Services fell four cents Thursday to $11.20 in after hours trading.
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