TYLER, Texas-Teletouch Communications Inc. announced its net revenues rose 161 percent to $7.8 million for the fiscal year fourth quarter ended May 31, from $3 million the same period a year ago.
The company attributes the increase to internal growth from existing operations and to its acquisition of Dial-A-Page.
The company said its net revenues for the fiscal year increased 310 percent to $27 million from $6.6 million the previous year.
The majority of the net revenue growth was associated with the acquisitions of Dial-A-Page in August 1995, and Beepers Plus and Waco Communications in December 1994, said Teletouch. On a pro-forma basis, Teletouch said its net revenues would have been $29.8 million for the year, up from pro-forma net revenues of $25.4 million in 1995.
Teletouch said its net loss for the fourth quarter was $1.8 million, or 37 cents per share, compared with a net loss $663,000, or 18 cents per share, the prior year. The company said the loss included about $600,000 associated with the costs incurred with its now terminated merger with ProNet Inc.
