DALLAS-PageMart Wireless Inc. reported revenues for the first quarter ended March 31 of $62.5 million, a 10.5-percent increase from the $56.6 million recorded for the same time the previous year.
PageMart recorded net losses of $25.2 million, or 62 cents per share, compared with a net loss of $10 million, or 25 cents per share, for first-quarter 1998. The increased losses were primarily because of additional operating expenses incurred by PageMart PCS, said the company.
During the quarter, PageMart entered into a narrowband personal communications services strategic alliance with AirTouch Paging as well as with Arch Communications Group Inc.
The company also said its net subscriber base decreased by 84,810, primarily “the result of slowing sales for traditional messaging in the local reseller and carrier services distribution channels,” said John Beletic, PageMart’s chairman and chief executive officer.
