JAKARTA, Indonesia-Perusahaan Perseroan PT Indonesian Satellite Corp. Tbk. announced its consolidated 1997 net income-after accounting for minority interests in subsidiaries-was $136.9 million, or $1.30 per share.
Despite current economic turmoil in the Far East, this represents an increase of 22 percent over 1996 for the company. Indosat also reported quarterly net income of $40.6 million, or 40 cents per share, a 17.6-percent increase over the year-earlier quarter.
Indosat’s annual and quarterly revenues also were up about 18.8 percent to $312.9 million for the year and $86.6 million for the fourth quarter.
“This is the best that we can do with this recent monetary turmoil,” said Indosat’s president and chief executive officer, Tjahjono Soerjodibroto. “Our focus currently is to ensure that 1998 will be at least as robust as 1997. We understand that this will not be an easy job; it will require all our efforts and cooperation with our customers.”
Indosat’s international calling and other telecommunications services usage appeared to be unaffected by the region’s economic troubles, showing an 18.6-percent increase in total international calling, a 44.1-percent increase in high-speed leased line use and a 16-percent increase in use of its Packet Switched Data network.
