Neutral Tandem (TNDM) Announces Repurchase Program With 4Q Results

Neutral Tandem (NASDAQ: TNDM), a provider of tandem interconnection services, has announced its Q4, and FY09 results.

Revenue rose by 28% to $44.7 billion by December 31st 2009, compared to nearly $35 billion for the same 3-month period in the previous year. Pretax income for the period was up 35% to $16.3 million.

Neutral Tandem missed Street earnings expectations by $0.01, posting $0.31 per diluted share i.e. a net income of $10.5 million.

Neutral Tandem also announced that its board has approved the repurchase of up to $25 million of outstanding common stock.

The company has expanded its geographical footprint by operating in 137 markets as of the end of 2009, compared to just 100 in the previous year.