PORTLAND, Ore.-Citing a further diversification of its business plans, enhanced directory assistance provider Metro One Telecommunications Inc. reported a drop in second-quarter revenues from $51 million last year to $43.5 million this year. Despite the drop in total revenues, net losses dropped from $9.2 million last year, a loss of 37 cents per share, to a loss of $5.4 million this year, a loss of 22 cents per share.
The company noted that it spent approximately $6 million in advertising expenses for its premium Infone service, and said it is has added approximately 83,000 registered users since it was launched in an attempt to dilute its dependence on carrier-derived revenues that have come under pressure from increased competition.
“We are focused on diversifying our business,” explained Timothy Timmins, president and chief executive officer of Metro One. “While this is a long-term process with many challenges, we believe we will be able to build on and add to a successful, sustainable business.”
