ALBANY, N.Y.—Sprint PCS network partner IWO Holdings Inc. announced its results for the fourth quarter and fiscal year ended December 31, 2001.
Total revenue for the fourth quarter was $33.2 million, a 75-percent increase from the year-ago quarter. Earnings before EBITDA, and not including merger-related costs of $2.4 million, were $13.4 million, also up from the year ago quarter’s $10.9 million. Net loss, however, was also up, to $27.4 million, or 73 cents per share, compared with a net loss of $18.2 million, or 58 cents per share, recorded for the year-ago quarter.
The company said total revenue for the fiscal year was $110.1 million, an 87-percent increase from $58.8 million during 2000. Earnings were $33.1 million, compared with last year’s $27.7 million and net loss was also up to $76.9 million, or $2.05 per share, compared with $50.1 million, or $1.63 per share.
During the fourth quarter, IWO launched four markets in New York, expanded its network covered POPs to 4 million and added 29,396 net subscribers before announcing it will be acquired by US Unwired.
