WOBURN, Mass.-Prepaid wireless service provider Boston Communications Group Inc. reported a fourth quarter profit ahead of analyst expectations, but issued a warning on 2001 results.
Fourth-quarter revenues increased from $17.1 million in 1999 to $19.3 million last year, with net income rising from $534,000 in 1999 to $2.3 million during the fourth quarter. Earnings per share came in at 13 cents, ahead of analyst expectations of 10 cents per share and fourth-quarter 1999 earnings of 3 cents per share.
For the year, BCGI reported revenue of $75.5 million in 2000, compared with $64.1 million in 1999. Net income increased from $84,000 in 1999, or a return of 1 cent per share, to $6.7 million in 2000, or a return of 38 cents per share.
BCGI said it does not expect Rogers AT&T to renew its contract and that the carrier may migrate off of its platform as early as the first quarter of this year. BCGI expects 2001 earnings of between 50 cents and 52 cents per share, below analyst expectations of 59 cents per share.
