DALLAS-Paging Network Inc. posted record net revenue for the second quarter of 1994, ended June 30, and increased its number of pagers in service by more than 43 percent compared with last year.
PageNet said it experienced net losses of nearly $5.47 million, or 11 cents per share, during the recent second quarter. Losses during the same quarter of 1993 were nearly $5.57 million.
Revenue increased nearly 32 percent for PageNet in the second quarter of 1994. During the recent quarter, the company posted revenue of $99.3 million from services, rent, maintenance and profits from product sold. PageNet had $74.5 million in revenue during second quarter 1993.
During the recent quarter, the paging operator added 344,293 pagers in service, giving the company a total of more than 3.7 million units as of June 30.
PageNet posted revenue of nearly $190 million during the first six months of the year. Losses were $13.2 million, or 26 cents per share.
FHMA engineering costs reason for Geotek losses
FHMA engineering costs reason for Geotek losses
MONTVALE, N.J.-Increased costs associated with Frequency Hopping Multiple Access digital engineering contributed to increased losses for Geotek Communications Inc. However, revenue rose significantly during the second quarter of 1994, ended June 30.
Geotek suffered net losses of $9.15 million, or 20 cents per share, during the recent second quarter, compared to a loss of $2.7 million, or 10 cents per share, during second quarter 1993.
Increased losses were primarily due to increased engineering costs for the rollout of Geotek’s digital network in the United States and developing a sales and distribution network, the company said.
The company recorded revenue of $16.1 million during the quarter, up 64 percent from the second quarter of 1993. Revenue for the first six months of 1994 were $31.7 million, $11.8 million of which was from wireless operations.
Losses in the first six months of 1994 were $16.3 million, or 35 cents per share, compared to losses of $6.65 million, or 25 cents per share, posted during the initial six months of 1993.
Ericsson reports income up 78 percent in quarter
STOCKHOLM, Sweden-Global telecommunications concern L.M. Ericsson reported a 78 percent increase in pre-tax income during the first half of fiscal 1994, ended June 30.
The company noted that pre-tax income during the recent six months reached $298 million, or 87 cents per share after taxes. During the first half of 1993, the company posted pre-tax income of $168 million, or 35 cents per share.
Ericsson said net sales also increased over last year’s comparable half. During the initial six months of 1994, Ericsson posted net sales of nearly $4.76 billion. That marks a 33 percent gain from net sales during 1993’s first half of nearly $3.6 billion.
Orders on the books, but not delivered, look strong, noted the company. Bookings increased about 19 percent in the recent first half to nearly $5.26 billion. Radio communications businesses, including cellular and two-way radio, showed the largest increases.
Business in China, Sweden, the United States and Italy contributed most, according to Ericsson.
