8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549


FORM 8-K


CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) July 21, 2008

PREMIERE GLOBAL SERVICES, INC.

(Exact Name of Registrant as Specified in Its Charter)

GEORGIA
(State or Other Jurisdiction of Incorporation)
000-27778	59-3074176
(Commission File Number)	(IRS Employer Identification No.)

3280 Peachtree Road, NW, Suite 1000, Atlanta, Georgia 30305
(Address of Principal Executive Offices)	(Zip Code)

404-262-8400

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02     Results of Operations and Financial Condition.

On July 21, 2008, Premiere Global Services, Inc. issued a press release reporting on its financial results for the quarter ended June 30, 2008. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the information included or incorporated in Item 2.02 of this report, including Exhibit 99.1, is being furnished to the Securities and Exchange Commission and shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01     Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated July 21, 2008.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		PREMIERE GLOBAL SERVICES, INC.
Date:	July 21, 2008	By:	/s/ Michael E. Havener
			Michael E. Havener
			Chief Financial Officer (principal financial and accounting officer)

3

EXHIBIT INDEX

99.1 Press Release dated July 21, 2008.

4

EX-99.1

Exhibit 99.1

Premiere Global Services Reports Second Quarter 2008 Results: Revenues up 17% to $161.6M, Pro Forma Diluted EPS up 29% to $0.27(a)

Company Raises Financial Outlook for 2008

ATLANTA--(BUSINESS WIRE)--Premiere Global Services, Inc. (NYSE: PGI), a global provider of on-demand, communication technologies-based business process improvement solutions, today announced results for the second quarter ended June 30, 2008.

Consolidated net revenues increased 17.1% to $161.6 million in the second quarter of 2008, compared to $138.0 million in the second quarter of 2007. In the second quarter of 2008, operating income totaled $13.9 million, net income totaled $5.8 million and diluted EPS totaled $0.10, compared to $11.2 million, $5.8 million and $0.09, respectively, in the second quarter of 2007. Pro forma diluted EPS totaled $0.27(a) in the second quarter of 2008, excluding the items set forth on the attached reconciliation of non-GAAP financial measures table.

“We are very pleased with our second quarter performance, as we believe we made meaningful progress on all fronts – strategic, operational and financial,” said Boland T. Jones, Founder, Chairman and CEO of Premiere Global Services, Inc. “In today’s competitive global economy, we believe companies are more focused than ever on improving their business processes to drive their financial results and to remain competitive. With our robust communication technologies platform, our expanding suite of PGi Communications Operating System solutions and applications, and our global reach and scale, we believe we are in a great position to continue to capitalize on this macro trend.”

PGi Communications Operating System Revenue Detail

Conferencing & Collaboration Solutions remains the largest of the PGi Communications Operating System’s five solution sets. Conferencing & Collaboration Solutions revenue grew 31.4% to $113.7 million in the second quarter of 2008, versus $86.5 million in the second quarter of 2007.

In the second quarter of 2008, revenue in the Company’s reportable segments increased from the comparable prior year quarter as follows:

• North America grew 10.2% to $97.1 million, versus $88.1 million;
• Europe increased 31.5% to $33.3 million, versus $25.3 million and;
• Asia Pacific grew 26.6% to $31.1 million, versus $24.6 million.

Six Month Results

Revenues for the six months ended June 30, 2008 were $314.4 million, an increase of approximately 14.9% compared to $273.6 million in the six months ended June 30, 2007. For the six months ended June 30, 2008, operating income totaled $33.5 million, net income totaled $17.8 million and diluted EPS totaled $0.29, compared to $26.0 million, $14.8 million and $0.22, respectively, for the six months ended June 30, 2007. Pro forma diluted EPS from continuing operations totaled $0.52(a) for the six months ended June 30, 2008 , excluding the items set forth on the attached reconciliation of non-GAAP financial measures table.

Financial Outlook

The following statements are based on Premiere Global Services’ current expectations as of July 21, 2008. These statements contain forward-looking statements and Company estimates, and actual results may differ materially. The Company assumes no duty to update any forward-looking statements made in this press release. A discussion concerning forward-looking statements is included at the end of this press release and in the Company’s filings with the Securities and Exchange Commission.

The Company anticipates revenue growth in 2008 will be above its prior forecast. The Company now projects consolidated revenues will increase greater than 13% in 2008 from 2007 totals. Diluted EPS is projected to grow at least 20% in 2008 compared to 2007. Capital expenditures are expected to decline as a percentage of revenues in 2008 from 2007 levels.

(a) To supplement the Company’s consolidated financial statements presented in accordance with GAAP, we have included the following non-GAAP measures of financial performance: pro forma operating income, pro forma net income and pro forma diluted EPS. Management uses these measures internally as a means of analyzing the Company’s current and future financial performance and identifying trends in our financial condition and results of operations. We have provided this information to investors to assist in meaningful comparisons of past, present and future operating results and to assist in highlighting the results of ongoing core operations. Please see the table attached for calculation of these non-GAAP financial measures and for reconciliation to the most directly comparable GAAP measures. These non-GAAP financial measures may differ materially from comparable or similarly titled measures provided by other companies and should be considered in addition to, not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP.

Conference Call

The Company will hold a conference call at 5:00 p.m. Eastern this afternoon to discuss these results. To participate in the call, please dial-in to the appropriate number 5-10 minutes prior to the scheduled start time: (888) 221-9584 (US & Canada) or (913) 312-1490 (International). The call will be simultaneously broadcast over the Internet and can be accessed at PremiereGlobal.com/IR. You may also follow this link for details on the Internet replay and for the text of the earnings release, including the financial and statistical information to be presented in the call.

A replay will be available following the call at 8:00 p.m. Eastern tonight through 8:00 p.m. Eastern August 1, 2008, and can be accessed by calling (888) 203-1112 (US & Canada) or (719) 457-0820 (International). The confirmation code is 9595848. The Webcast of this call will be archived on the Company’s Website at PremiereGlobal.com/IR.

About Premiere Global Services, Inc.

Premiere Global Services, Inc. is a global provider of on-demand, communication technologies-based business process improvement solutions. Our PGi Communications Operating System supports business applications within the following solution sets: Conferencing & Collaboration, Desktop Document Solutions, Enterprise Document Solutions, Notifications & Reminders, and eMarketing.

Headquartered in Atlanta, Georgia, and with presence in 23 countries worldwide, Premiere Global delivers solutions to an established customer base of over 50,000 companies, including nearly 95% of the Fortune 500. Additional information can be found at PremiereGlobal.com.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. A variety of factors could cause actual results to differ materially from those anticipated in Premiere Global Services' forward-looking statements, including, but not limited to, the following factors: competitive pressures, including pricing pressures; technological change; the development of alternatives to our services; market acceptance of our new services and enhancements; integration of acquired companies; service interruptions; increased financial leverage; our dependence on our subsidiaries for cash flow; continued weakness in our legacy broadcast fax business; foreign currency exchange rates; possible adverse results of pending or future litigation or infringement claims; federal or state legislative or regulatory changes; general domestic and international economic, business or political conditions; and other factors described from time to time in our press releases, reports and other filings with the SEC, including but not limited the "Risk Factors" sections of our Annual Report on Form 10-K for the year ended December 31, 2007 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008. All forward-looking statements attributable to us or a person acting on our behalf are expressly qualified in their entirety by this cautionary statement.

PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
			Three Months Ended						Six Months Ended
			June 30,						June 30,
				2008			2007			2008			2007
			(Unaudited)						(Unaudited)
Net revenues			$	161,565		$	138,019		$	314,419		$	273,645
Operating expenses
	Cost of revenues (exclusive of depreciation and amortization shown separately below)			66,202			56,782			127,864			110,678
	Selling and marketing			40,211			34,393			80,425			70,861
	General and administrative			16,738			17,297			32,971			33,870
	Research and development			4,163			3,348			7,859			6,779
	Excise tax expense			2,890			-			2,890			-
	Depreciation			8,600			7,226			15,847			14,315
	Amortization			3,914			3,593			8,157			7,146
	Restructuring costs			3,339			3,877			3,339			3,746
	Net legal settlements and related expenses			1,608			284			1,608			284
		Total operating expenses		147,665			126,800			280,960			247,679
Operating income				13,900			11,219			33,459			25,966
Other (expense) income
	Interest expense			(5,532	)		(2,604	)		(10,161	)		(4,906	)
	Interest income			138			141			351			241
	Other, net			(21	)		215			816			673
		Total other (expense) income		(5,415	)		(2,248	)		(8,994	)		(3,992	)
Income before income taxes				8,485			8,971			24,465			21,974
Income tax expense				2,692			3,138			6,652			7,194
Net income			$	5,793		$	5,833		$	17,813		$	14,780
BASIC WEIGHTED-AVERAGE SHARES OUTSTANDING:				59,419			64,204			59,425			65,941
	Basic earnings per share from net income		$	0.10		$	0.09		$	0.30		$	0.22
DILUTED WEIGHTED-AVERAGE SHARES OUTSTANDING:				60,603			65,526			60,646			67,190
	Diluted earnings per share from net income		$	0.10		$	0.09		$	0.29		$	0.22

PREMIERE GLOBAL SERVICES, INC AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE DATA)
			June 30,			December 31,
				2008			2007
			(Unaudited)
ASSETS
CURRENT ASSETS
	Cash and equivalents		$	24,824		$	18,259
	Accounts receivable (less allowances of $3,284 and $4,526, respectively)
				105,845			89,683
	Prepaid expenses and other current assets			11,294			13,066
	Deferred income taxes, net			8,838			5,522
		Total current assets		150,801			126,530
PROPERTY AND EQUIPMENT, NET				126,839			110,767
OTHER ASSETS
	Goodwill			344,406			337,246
	Intangibles, net of amortization			37,398			43,115
	Deferred income taxes, net			385			1,018
	Other assets			8,988			5,411
			$	668,817		$	624,087
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
	Accounts payable		$	56,293		$	51,631
	Income taxes payable			5,272			4,497
	Accrued taxes, other than income taxes			9,041			8,076
	Accrued expenses			34,848			37,276
	Current maturities of long-term debt and capital lease obligations			2,691			1,664
	Accrued restructuring costs			3,279			1,717
		Total current liabilities		111,424			104,861
LONG-TERM LIABILITIES
	Long-term debt and capital lease obligations			278,978			267,817
	Accrued restructuring costs			1,195			1,575
	Accrued expenses			11,361			7,627
		Total long-term liabilities		291,534			277,019
SHAREHOLDERS' EQUITY
	Common stock $0.01 par value; 150,000,000 shares authorized, 61,556,412 and 61,755,728 shares issued and outstanding in 2008 and 2007, respectively
				616			618
	Additional paid-in capital			549,057			548,418
	Notes receivable, shareholder			(1,752	)		(1,702	)
	Cumulative translation adjustment			15,775			10,523
	Accumulated deficit			(297,837	)		(315,650	)
		Total shareholders' equity		265,859			242,207
			$	668,817		$	624,087

PREMIERE GLOBAL SERVICES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
						Six Months Ended
						June 30,
							2008			2007
						(Unaudited)
	CASH FLOWS FROM OPERATING ACTIVITIES
	Net income					$	17,813		$	14,780
		Adjustments to reconcile net income to net cash provided by operating activities:
			Depreciation				15,847			14,315
			Amortization				8,157			7,146
			Amortization of deferred financing costs				282			258
			Net legal settlements and related expenses				1,608			284
			Deferred income taxes, net of effect of acquisitions				(1,044	)		(2,640	)
			Restructuring costs				3,339			3,746
			Payments for restructuring costs				(1,638	)		(4,080	)
			Payments for discontinued operations				-			(488	)
			Equity-based compensation				6,463			5,355
			Excess tax benefits from share-based payment arrangements				(832	)		(2,297	)
			Payments for state sales tax				-			(480	)
			Loss on disposal of assets				(7	)		146
			Changes in assets and liabilities, net of effect of acquisitions:
				Accounts receivable, net			(14,261	)		(8,624	)
				Prepaid expenses and other current assets			(1,144	)		(486	)
				Accounts payable and accrued expenses			5,031			10,030
					Total adjustments		21,801			22,185
					Net cash provided by operating activities		39,614			36,965
	CASH FLOWS FROM INVESTING ACTIVITIES
			Capital expenditures				(26,791	)		(20,240	)
			Business acquisitions, net of cash acquired				(8,443	)		(1,330	)
					Net cash used in investing activities		(35,234	)		(21,570	)
	CASH FLOWS FROM FINANCING ACTIVITIES
			Principal payments under borrowing arrangements				(297,912	)		(167,952	)
			Proceeds from long-term borrowing arrangements				306,272			275,100
			Payments of debt issuance costs				(8	)		-
			Excess tax benefits from share-based payment arrangements				832			2,297
			Purchase of treasury stock, at cost				(9,164	)		(124,458	)
			Exercise of stock options				2,210			6,900
					Net cash provided by (used in) financing activities		2,230			(8,113	)
	Effect of exchange rate changes on cash and equivalents						(45	)		(434	)
	NET INCREASE IN CASH AND EQUIVALENTS						6,565			6,848
	CASH AND EQUIVALENTS, beginning of period					$	18,259		$	18,977
	CASH AND EQUIVALENTS, end of period					$	24,824		$	25,825

PREMIERE GLOBAL SERVICES, INC AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(IN THOUSANDS, EXCEPT PER SHARE DATA)
			Three Months Ended					Six Months Ended
			June 30,					June 30,
			2008			2007		2008			2007
			(Unaudited)					(Unaudited)
Pro Forma Operating Income (1)
	Operating income, as reported		$	13,900		$	11,219	$	33,459		$	25,966
	Restructuring costs			3,339			3,877		3,339			3,746
	Net legal settlements and related expenses			1,608			284		1,608			284
	Proxy-related costs			-			1,989		-			2,900
	Equity-based compensation			3,000			2,580		6,463			5,355
	Excise tax expense			2,890			-		2,890			-
	Depreciation			-			-		(663	)		-
	Amortization			3,914			3,593		8,157			7,146
		Pro forma operating income	$	28,651		$	23,542	$	55,253		$	45,397
Pro Forma Net Income (1)
	Net income, as reported		$	5,793		$	5,833	$	17,813		$	14,780
	Elimination of one-time income tax adjustments			(193	)		-		(1,666	)		(615	)
	Restructuring costs, net of taxes			2,204			2,493		2,204			2,409
	Net legal settlements and related expenses			1,062			183		1,062			183
	Proxy-related costs, net of taxes			-			1,279		-			1,865
	Equity-based compensation, net of taxes			1,980			1,659		4,265			3,443
	Excise tax expense, net of taxes			1,907			-		1,907			-
	Excise tax interest, net of taxes			733			-		733			-
	Depreciation, net of taxes			-			-		(438	)		-
	Amortization, net of taxes			2,583			2,311		5,384			4,595
		Pro forma net income	$	16,069		$	13,758	$	31,264		$	26,660
Pro Forma Diluted EPS (1)
	Diluted EPS from net income, as reported		$	0.10		$	0.09	$	0.29		$	0.22
	Elimination of one-time tax adjustments			(0.00	)		-		(0.02	)		(0.01	)
	Restructuring costs, net of taxes			0.04			0.04		0.04			0.04
	Net legal settlements and related expenses			0.02			-		0.02			0.00
	Proxy-related costs, net of taxes			-			0.02		-			0.03
	Equity-based compensation, net of taxes			0.03			0.02		0.07			0.05
	Excise tax expense, net of taxes			0.03			-		0.03			-
	Excise tax interest, net of taxes			0.01			-		0.01			-
	Depreciation, net of taxes			-			-		(0.01	)		-
	Amortization, net of taxes			0.04			0.04		0.09			0.06
		Pro forma diluted EPS from net income	$	0.27		$	0.21	$	0.52		$	0.39
	(1) Management believes that pro forma operating income, pro forma net income and pro forma diluted EPS provide useful information regarding underlying trends in our continuing operations. Management expects equity-based compensation and amortization expenses to be recurring costs and presents pro forma diluted EPS from continuing operations to exclude these items as well as non-recurring items that are unrelated to our ongoing operations, including one-time income tax adjustments, restructuring costs, net legal settlements and related expenses, proxy-related costs and excise tax expense. The portion of depreciation expense excluded from the pro forma calculations reflects management's review and adjustment of the useful economic lives of depreciable assets.

CONTACT:
Premiere Global Services, Inc.
Investor Calls
Sean O’Brien, 404-262-8462
Senior Vice President
Strategic Planning & IR