WASHINGTON-InPhonic Inc., which sells wireless phones and services online, said revenues for the third quarter totaled $96.7 million, up 79 percent from revenues of $54.1 million during the third quarter of 2004.
Net loss attributable to common shareholders was $5 million, or 14 cents per share, compared with a net loss of $11 million, or 94 cents per share, during the third quarter of 2004.
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“As we have communicated in the past, we continue to evaluate all of our businesses with the goal of realizing our growth prospects and maximizing stockholder value,” said David Steinberg, the company’s chairman and chief executive officer. “Our financial results reflect solid execution across our WAS business and continued revenue and margin pressure in our MVNO business. As we transition it from a subscriber to a software based business, we expect to grow the business at a faster pace with higher gross margins. After having achieved our nine month 2005 goals, we believe that we have made excellent progress this quarter in our efforts to streamline the company and position it for profitable future growth.”