WASHINGTON-Online wireless retailer and mobile virtual network operator InPhonic Inc. reported a 63-percent jump in revenues during the second quarter from $50.1 million in 2004 to $81.6 million this year. The growth was led by InPhonic’s revenues from wireless activations and services, which more than doubled to $73.4 million and more than offset declines in MVNO and data services.
Inphonic also announced it signed a multi-year wholesale contract with Cingular Wireless L.L.C. to resell wireless minutes and data services using Cingular’s GSM-based network. InPhonic said it will use the GSM capabilities to expand its Liberty Wireless MVNO offering, which currently uses Sprint Corp.’s CDMA network.
Net losses also improved from a loss of $6.5 million during the second quarter of 2004, a loss of 56 cents per share, to a loss of $1.7 million this year, a loss of 5 cents per share.
InPhonic said it expects to post between $90 million and $92 million in revenues for the third quarter.
InPhonic’s stock was trading down more than 5 percent early Friday at $14.81 per share.
