BURLINGTON, Mass.-Lightbridge Inc., which provides wireless carriers with mobile business solutions, announced its first-quarter 2001 earnings on a good note this week.
“This has been another good quarter for the company and we are clearly off to a good start of the year,” commented Pamela D.A. Reeve, the company’s chief executive officer.
Lightbridge reported revenues of $49.3 million, up 16.4 percent from the year-ago quarter’s $42.4 million. Net income was $4.1 million, or 14 cents per share, down from last year. But Lightbridge said that its net income, excluding costs of $6 million related to the acquisition of Corsair Communications Inc., actually matched last year’s $5.6 million or 19 cents per share.
The company added it expects 2- to 3-percent growth in the second quarter and earnings to increase 6- to 8 cents per share. For the full year of 2001, Lightbridge expects a 20-percent increase in annual revenue from 2000 and expects diluted earnings to be between $1.02 and $1.05 per share.
