HACKENSACK, N.J.-Corporate wireless data provider GoAmerica Inc. released a strong second-quarter earnings report, showing substantial gains in subscribers and revenue but a jump in its losses due to a previously announced increase in roaming costs.
The company’s net loss was $25 million, due in part to a larger-than-anticipated increase in roaming costs associated with some of its CDPD network service plans. The company said it would introduce new service plans to take the new roaming costs into account. In the prior quarter, GoAmerica recorded a loss of $20.1 million.
The company recorded a record number of gross subscriber additions for the quarter, almost 40,000, bringing GoAmerica’s total to a little more than 100,000 subscribers. The company’s total revenues for the quarter, ended June 30, were $9.8 million compared with $8 million in the first quarter.
Company executives said GoAmerica is on track to reach positive earnings before interest, taxes, depreciation and amortization by the first half of next year. The company said it would end this year with between $40 and $50 million in cash.
GoAmerica’s stock was down about 12 percent in trading the day of the news to $1.61 per share.
