SAN FRANCISCO-AirTouch Communications Inc.’s net income for the second quarter increased 58 percent to $61.2 million, or 12 cents per share, from $38.7 million, or 8 cents per share, for the second quarter 1995.
“During the quarter, worldwide demand for wireless services exceeded our most optimistic projections,” said Sam Ginn, chairman and chief executive officer of AirTouch. “Our international growth was very strong, far surpassing all previous quarters. Domestically, our cellular and paging operations enjoyed record growth with very impressive margins.”
Proportionate international cellular customers grew by 205,000 to 1.2 million, up 115 percent compared with the comparable period in 1995. Proportionate net income rose 334 percent to $26.4 million. Losses related to start-up operations in Italy, South Korea, Spain, India and Poland were $29.7 million.
In the United States, AirTouch added 158,000 cellular customers and 143,000 paging units in service.
AirTouch said start-ups will continue to dilute earnings. Under current growth expectations and excluding ownership changes, losses from the continued construction and buildout of start-up operations in Italy, Poland, Spain, South Korea and India are expected to reach about $1 billion in 1996.
APT reports loss for second quarter
CHICAGO-American Portable Telecom Inc. racked up a net loss of $7 million, or 11 cents per share, in the second quarter ended June 30, as it worked on building out its personal communications services network. This compares to a $412,000 loss, or 1 cent per share, for second quarter 1995.
Net loss for the six-month period was $14 million, or 22 cents per share, compared with a $1 million net loss, or 2 cents per share, last year.
The company had $2 million in income for both the second quarter and six month periods of 1996.
PageNet revenues grow 33 percent
DALLAS-Paging Network Inc. reported $172 million in consolidated revenues for the second quarter ended June 30, compared with $129.3 million for the same quarter last year, a 33 percent increase.
For the six-month period, consolidated net revenues totaled $335.1 million compared with $250.7 million last year.
PageNet’s international operations, which began last April, contributed $81,000 in revenue to its quarterly results.
Net loss for the quarter was $18.5 million, or 18 cents per share, compared with a net loss of $16.2 million, or 16 cents per share, last year.
Net loss for the six-month period was $30.6 million, or 30 cents per share, compared with a net loss of $23 million, or 23 cents per share, last year.
During the quarter, the company said it added 581,226 pagers in service for a total of 7,881,764 at the end of June, a 45.5 percent increase compared with last year.
Glenayre’s growth in sales continues
CHARLOTTE, N.C.-Glenayre Technologies Inc. said the continued growth of worldwide one-way paging, enhanced voice messaging and microwave products helped the company achieve record sales for the second quarter.
Glenayre’s net sales increased 40.2 percent to $105.1 million from $75 million for the second quarter 1995. Net sales for the six months increased 44.2 percent to $194.5 million from $134.8 million for the same period 1995.
Net income for the second quarter was $22.9 million, or 36 cents per share, compared with $18.2 million, or 29 cents, for the same quarter in 1995. For the first six months of the year, Glenayre posted a net income of $39.9 million, or 62 cents per share. For the six months ended June 30, 1995, the company reported a net income of $32 million, or 52 cents per share.
“We also now have a very strong backlog of [narrowband personal communications services] products, in the range of $100 million,” said Gary Smith, Glenayre’s president and chief executive officer. “However, the results for the quarter included only minimal shipments of NPCS products. With meaningful beta tests for new NPCS services just now underway, it is still difficult to forecast if major implementations of NPCS systems will start during the late third quarter, the fourth quarter or in early 1997.”
Qualcomm reports $1.5M in income
SAN DIEGO-Qualcomm Inc. announced revenues for the third fiscal quarter of 1996 were $235 million, up 136 percent from revenues of $100 million in the third fiscal quarter of 1995.
Net income was $1.5 million, or 2 cents per share, compared with $7.3 million, or 13 cents per share, reflecting the heavy investment in new products and market development that have contributed to the rapid growth of sales and orders, said the company. During the quarter, two of the largest personal communications services provider, Sprint Spectrum L.P. and PrimeCo Personal Communications L.P., announced agreements to purchase Code Division Multiple Access cellular and PCS handsets from Qualcomm Personal Electronics, a 51 percent Qualcomm-owned joint venture with Sony Electronics Inc. The value of the contracts is $850 million.
Vanguard credits results to demand
GREENSBORO, N.C.-Vanguard Cellular Systems Inc. said its second quarter results demonstrate an increasing demand for Cellular One service in its markets. The company posted a net income of $4.8 million, or 12 cents per share, for the three months ended June 30, compared with a net loss of $1.3 million, or 3 cents per share, for the same period in 1995. During the first six months of the year, Vanguard’s net income was $7.4 million, or 18 cents per share. The company reported a net loss of $8.5 million, or 21 cents per share, for the six months ended June 30, 1995.
Total revenues for the second quarter rose 29 percent to $75.6 million from $58.8 million for the second quarter 1995. Revenues for the six months ended June 30 were $141.6 million. For the six months the previous year, revenues were $108.6 million.
Vanguard added 25,000 net subscribers during the second quarter, increasing its subscriber base to 430,000, a 37 percent increase from a year ago.
