DALLAS-Paging Network Inc. announced its first quarter financial results. Net revenues reached $121.5 million, a 34 percent increase from $90.7 million for the same quarter last year. The quarter ended with a net loss of $6.8 million, or 13 cents per share, compared with a net loss of $7.7 million, or 15 cents per share in 1994.
PageNet’s operating cash flow reached $42.8 million, a 44.7 percent increase compared with the corresponding quarter last year.
The company reported 424,000 new pagers in service for the first quarter, increasing total units to 4.8 million, up 43.3 percent from last year. The increase reflects its acquisition of ComTech Inc., accounting for 82,000 pagers. PageNet Nationwide service accounted for 194,926 of the total pagers in service by quarter’s end.
Deregulation aids Andrew in second quarter results
ORLAND PARK, Ill.-“Deregulation of communications markets in North America, South America, Europe and the Far East is enhancing sales to wireless, common carrier and other customers,” said Dr. Floyd English, chairman, president and chief executive officer of Andrew Corp., in assessing the company’s second quarter financial results.
For the quarter ended March 31, Andrew reported a net income of $14.1 million, up 55 percent compared with $9.1 million in the same period one year ago. Second quarter sales increased 10 percent to $156.3 million from $142.2 million last year.
American Paging reports subscriber units on rise
MINNEAPOLIS-American Paging Inc. reported an increase in customer units, but decreasing revenue per unit for the first quarter ended March 31. Total units in service rose 43.2 percent to 705,000, compared with 492,300 units in service in the same period in 1994.
The company posted a net loss of $2.7 million, or 14 cents per share, for the quarter. First quarter revenues increased 22.6 percent to $22.2 million, compared with $18.1 million in the comparable period last year.
