RUTHERFORD, N.J.-Nextel Communications Inc. reported revenues of $37.1 million for the quarter ended March 31-95 percent higher than its revenues of $19 million for the first quarter of last year. The company attributes the increase primarily to acquisitions and internal unit growth.
Nextel’s net loss for the three months ended March 31 was $53.2 million, or 50 cents per share, vs. $23.8 million, or 27 cents per share, for the similar period in the prior year. Nextel said the higher net loss was primarily due to costs from the development, implementation and operation of its digital mobile network as well as an increase in depreciation and amortization charges resulting from mergers and acquisitions.
New system contributes to Paging Partners’ loss
FREEHOLD, N.J.-Costs associated with building a new radio paging system contributed to Paging Partners Corp.’s net loss of $530,000, or 11 cents per share, in the first quarter, compared with a net loss of $11,000 for the comparable period last year, the company reported.
Revenues for the first quarter, ended March 31, reached $981,000, up 25 percent from $783,000 in 1994.
CTS reports revenues up 163 percent for quarter
SEATTLE-In its third consecutive quarter of increased profits, Cellular Technical Services Company Inc. produced $243,000 net income, or 2 cents per share for the quarter, compared with a loss of $573,000, or 6 cents per share, for first quarter 1994.
Revenue for the period ended March 31, increased 163 percent to $3.5 million, compared with $1.3 million the same period in 1994.
Bob Dahut, CTS president, noted that McCaw Cellular Communications Inc. and Sprint Cellular Co. markets deployed CTS’ Accountlink metered billing software application product, based on contracts signed last year.
Also, CTS signed a letter of intent to install its Blackbird data collection platform and PreTect fraud prevention software in 200 Taiwan cell sites, Dahut noted. He expects Blackbird sales will increase throughout 1995, with revenues realized in 1996 and beyond.
InterCel reports increase in subscribers for period
LANETT, Ala.-A 42 percent increase in new subscribers is partly responsible for InterCel Inc.s’ positive first quarter results, stated Allen Smith, president and chief executive officer.
For the period ended March 31, InterCel’s net income totaled $722,926, or 7 cents per share, up 133 percent from $310,818, or 4 cents per share, when compared with net income for first quarter 1994. Net revenues for the quarter reached $6.3 million, an increase of 57 percent above $4 million for the comparable period last year.
New subscribers reached 30,715 for the quarter, compared with 21,687 new subscribers in first quarter 1994, with especially strong growth concentrated in the Georgia/Alabama and Maine markets, commented Smith.
Wireless Telecom reports first quarter increases
PARAMUS, N.J.-Wireless Telecom Group Inc. reported an increase in sales and earnings in first quarter ended March 31. Sales totaled $3.42 million, compared with sales of $1.36 million in first quarter 1994.
Net income for the current quarter was $1.07 million, or 19 cents per share, compared with comparable quarter 1994 net income of $300,920, or 6 cents per share. During the quarter ended March 31, the company paid a quarterly cash dividend of 4 cents per share, aggregating $226,340 to shareholders.
Nationwide reports loss of more than $1 million
VALLEY STREAM, N.Y.-Nationwide Cellular Service Inc. reported a 94 percent increase in new customers for the first quarter, ended March 31. A total of 14,900 net new customers signed up for service, compared with 7,700 net new subscribers for the first quarter last year. The company said its total customer base surpassed 265,000.
However, Nationwide reported a net loss of $1.3 million, or 16 cents per share, for the three-month period, down from a net income of $445,000, or 3 cents per share, in the comparable period last year.
Nationwide saw a 15.5 percent increase in quarterly revenue to $55.2 million, from $47.8 million first quarter last year.
Vanguard noting net loss of $7.2 million in quarter
GREENSBORO, N.C.-Vanguard Cellular Systems Inc. reported a first-quarter net loss of $7.2 million, or 18 cents per share, compared with a loss of $3.1 million, or 8 cents per share, in first quarter 1994.
However, the company claims record first quarter net subscriber additions, service revenues, operating cash flow and operating income for the three-month period ended March 31.
Vanguard said the increase in net loss primarily was due to the increase in depreciation and amortization expenses and an increase in interest expense from $4 million in first quarter 1994 to $8.6 million in first quarter 1995.
Vanguard reports adding 35,000 net subscribers during the first quarter, a 98 percent increase from a year ago. On the whole, the subscriber base increased by 87 percent to 280,000 from the end of first quarter 1994.
Service revenues increased for the fifth consecutive quarter to a record $43.9 million, 54 percent higher than first quarter 1994. Operating cash flow increased 56 percent to $10 million, compared with operating cash flow of $6.4 million in first quarter 1994. Income from operations rose from $1.4 million to $2 million, a result of the company’s accelerated build-out of its cellular network, Vanguard said.
