LCC International Inc.’s recent initial public offering of 6 million shares coincided with the end of the quarter Sept. 30. The Class A Common Stock sold for $16 per share.
“We are obviously pleased with the success of our initial public offering and we are delighted to be able to deliver strong results in our first public announcement,” said Piyush Sodha, president and chief executive officer.
The company had third quarter net income of $11 million, or 11 cents per share pro forma, compared with net income of $376,000, or 5 cents per share pro forma, for the third quarter 1995. Net income for the first three quarters was $14 million compared with net income of $1 million for the same period last year.
The company reported net revenues for the quarter increased 51 percent to $38 million, compared with revenues of $25 million during the third quarter last year. Revenues for the first nine months of 1996 were $98 million, 37 percent more than revenues of $72 million for the same period last year.
