NORCROSS, Ga.-USCI Inc. said executing its reselling strategy helped increase first-quarter revenues by more than fivefold, from $1.7 million last year to $9.4 million for the quarter ended March 31.
USCI’s net loss for the period more than tripled to $11.6 million, or $1.11 per share, compared with $3.1 million, or 30 cents per share, a year ago. In the preceding quarter, sales were $4.9 million with a net loss of $16.4 million or a loss per share of $1.60.
The number of wireless subscribers served by non-facilities based carrier Ameritel Communications Inc.-a wholly owned subsidiary of USCI-at the end of March totaled 76,000, and USCI reported that number had grown to 85,000 by last week.
