PORTLAND, Ore.-Enhanced directory assistance provider Metro One Telecommunications Inc. said its contract with AT&T Wireless Services Inc. is set to expire Dec. 1, and it was unable to sign a new contract with the wireless operator.
“We have had a long-term relationship with AT&T Wireless, but were unable to find an economic arrangement acceptable to both parties,” explained Timothy Timmins, president and chief executive at Metro One. “While this is difficult news to report, we feel that this decision is in the best interest of our shareholders.”
Metro One, which recently launched its consumer-facing InFone premium personal assistant telephone service, reported a higher than expected third quarter loss of 43 cents per share compared with 30 cents per share last year. The company’s stock was trading down more than 14 percent in early Friday trading at $2.65 per share.
