(Source: Business Wire)Premiere Global Services, Inc. (NYSE: PGI), a global provider of on-demand, applied communication technologies, today provided a revised financial outlook for the year. As a result of the effects of continuing weak economic conditions, higher unemployment and lower overall business activity in the conferencing services industry, the Company's revenues and profits will be below previous expectations. Based on current business trends and foreign currency exchange rates, the Company projects full year revenues will be in the range of $595 million to $605 million and non-GAAP diluted EPS* will be in the range of $0.84 to $0.90 in 2009, including the negative impact of changes in foreign currency exchange rates.

"While we continue to win major, new enterprise accounts, growth from our existing customer base continues to be affected by the current economic climate," said Boland T. Jones, Founder, Chairman and CEO of Premiere Global Services, Inc. "We believe this trend, which is most apparent with our small- and mid-size customers, is a direct result of lower overall business activity and continued high levels of unemployment. Given the uncertainty of this economic environment, we are pleased that current trends associated with our new customer acquisitions, customer attrition and pricing all remain within recent historical levels.

"We believe that the long-term drivers of growth and expansion of the global conferencing industry remain positive, and we are taking steps to aggressively pursue a lower and more efficient cost structure in our Company. Although we are not yet seeing the impact of these cost initiatives in our results, we believe we are continuing to build significant scale and earningspower in our business. At the same time, we continue to make investments in new, innovative and exciting products and go-to-market strategies that we believe prepare us for future growth."

In the third quarter, the Company expects that it will incur restructuring costs for severance and lease abandonment as a result of actions being taken to align costs and to facilitate key strategic investments. The Company continues to anticipate that it will generate meaningful free cash flows this year.