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Syniverse 1Q 2010 - Page 4income provides further insight into the cash impact resulting from the differenttreatments of goodwill for financial reporting and tax purposes. We rely on cash netincome as the primary measure of Syniverse’s earnings exclusive of these certainnon-cash charges.We believe that the disclosure of Adjusted EBITDA, operating free cash flow andcash net income is useful to investors as these non-GAAP measures form the basisof how our management team reviews and considers our operating results. Bydisclosing these non-GAAP measures, we believe that we create for investors agreater understanding of, and an enhanced level of transparency into, the means bywhich our management team operates our company. We also believe these measurescan assist investors in comparing our performance to that of other companies ona consistent basis without regard to certain items that do not directly affect ourongoing operating performance or cash flows.Adjusted EBITDA, operating free cash flow and cash net income have limitationsas analytical tools, and should not be relied upon or considered in isolation or asa substitute for GAAP measures, such as net income, cash flows from operatingactivities and other consolidated income or other cash flows statement dataprepared in accordance with GAAP. In addition, these non-GAAP measures maynot be comparable to other similarly titled measures of other companies. Becauseof these limitations, Adjusted EBITDA and operating free cash flow should not beconsidered as measures of discretionary cash available to us to invest in the growthof our business. Cash net income also should not be considered as a replacementfor, or a measure that should be used or analyzed in lieu of, net income. We attemptto compensate for these limitations by relying primarily upon our GAAP resultsand using Adjusted EBITDA, operating free cash flow and cash net income assupplemental information only.First Quarter 2010 Earnings CallSyniverse will host a conference call at 4:30 p.m. ET to discuss the results.To participate on this call, U.S. callers may dial toll free +1 (800) 299-7635;international callers may dial direct +1 (617) 786-2901. The passcode for this call is23364209. This event also will be webcast live over the Internet in listen-only modeat http://www.syniverse.com/investorevents.A replay of this call will be available beginning at approximately 7:30 p.m. ET on May4 and will remain available through May 18 at 11:59 p.m. ET. To access the replay,U.S. callers may dial toll free +1 (888) 286-8010; international callers may dial direct+1 (617) 801-6888. The replay passcode is 99388615.SYNIVERSE TECHNOLOGIESWWW.SYNIVERSE.COM
Syniverse 1Q 2010 - Page 5About SyniverseSyniverse Technologies (NYSE:SVR)makes mobile work for morethan 800 mobile operators, cableand Internet providers, andenterprises in over 160 countries.With unmatched expertise andmore than 20 years simplifying thecomplexities of roaming, messagingand networking, Syniverse serves asthe force at the center of the mobilecommunications universe, keepingpeople connected today and forgingnew connections for tomorrow.Nobody knows mobile like Syniverse.For more information, visit www.syniverse.com, follow Syniverseon Twitter or find Syniverse onFacebook.Cautionary Notice Regarding Forward-Looking StatementsCertain of the statements in this press release may constitute “forward-lookingstatements” for purposes of Section 27A of the Securities Act of 1933, as amended,and Section 21E of the Securities Exchange Act of 1934, as amended, and as suchmay involve known and unknown risks, uncertainties and other factors, which maycause the actual results, performance or achievements of Syniverse to be materiallydifferent from the future results, performance or achievements expressed or impliedby such forward-looking statements. Such forward-looking statements include,without limitation: statements regarding Syniverse’s position for long-term success;Syniverse’s ability to continue to manage its costs; Syniverse’s expectations of growthof its product portfolio and competitive position; Syniverse’s expectations regardingstrengthening trends in our roaming and messaging businesses; Syniverse’s ability tocontinue to report positive results in future periods and/or to continue to experienceglobal growth; Syniverse’s ability to successfully integrate its acquired businesses,realize expected synergies and accurately predict the amount of one-time costsnecessary to integrate these businesses; Syniverse’s belief of the value of Non-GAAP measures to its investors; Syniverse’s assumptions regarding its long-termeffective tax rate; and Syniverse’s guidance for 2010, as contained under the caption“Outlook,” including, without limitation, expected net revenues, net income, AdjustedEBITDA, cash net income and operating free cash flow for 2010, as well as theassumptions, estimates, and judgments applied in creating such guidance.These forward-looking statements are based upon information presently available tothe company’s management and are inherently subjective, uncertain and subject tochange, due to any number of risks and uncertainties, including, without limitation,those other risks and factors discussed in Syniverse’s Annual Report on Form 10-Kfor the year ended Dec. 31, 2009 under the captions “Cautionary Notice RegardingForward-Looking Statements” and “Risk Factors” and otherwise in Syniverse’s reportsand filings that it makes with the Securities and Exchange Commission.You should not place undue reliance on any forward-looking statements, since thosestatements speak only as of the date that they are made. Syniverse has no obligationand does not undertake to publicly update, revise or correct any of the forwardlookingstatements after the date of this press release, or after the respectivedates on which such statements otherwise are made, whether as a result of newinformation, future events, or otherwise, except as otherwise may be required bylaw.# # #SYNIVERSE TECHNOLOGIESWWW.SYNIVERSE.COM
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