BASINGSTOKE, United Kingdom-Dolphin Telecom plc, a subsidiary of Telesystem International Wireless Inc., reported its financial results for the fourth quarter and year ended Dec. 31, 1999.
Company revenue increased for the fourth quarter from $21.3 million in 1998 to $26 million in 1999. Dolphin attributed most of the increase to business acquisitions and the launch of the United Kingdom enhanced specialized mobile radio network in the third quarter of 1999.
Total operating losses for the fourth quarter also increased from $28.7 million in 1998 to $59.9 million last year. The company said the increased loss was mainly a result of the construction of the United Kingdom and French ESMR networks and the initial development of the German ESMR network.
For the year, Dolphin’s revenues increased from $71 million in 1998 to $97.3 million in 1999, due mostly to business acquisitions.
Net loss increased for the year from $53.8 million to $169.3 million in 1999 due to the construction of ESMR networks.
