Western Wireless Corp. filed amended quarterly reports for the first and second quarters of this year with the Securities and Exchange Commission in response to comments the carrier received from the SEC regarding its first-quarter 10-Q filing.
The carrier said the amendments revise disclosures related to the adoption of Statement of Financial Accounting Standards No. 143 and adjusts the first quarter’s earnings before interest, taxes, depreciation and amortization result to an adjusted EBITDA result it began using during the second quarter.
The adjustments resulted in a greater net loss during the first quarter of $24 million, a loss of 30 cents per share, compared with Western Wireless’ previously reported $21.6 million loss, or a loss of 27 cents per share. Second-quarter results remained virtually the same, while the combined yearly first half net income dropped from $18.8 million, or 24 cents per share, to $16 million, or 20 cents per share.
Western Wireless added the adjustments will not impact its financial position as of Dec. 31, 2002 or the results of operations for cash flows for the first and second quarters of last year.
