PORTLAND, Ore.—Enhanced directory assistance provider Metro One Telecommunications Inc. said its revenues continue to be affected by the loss of Sprint Nextel Corp.’s business.
Revenues fell 75 percent for the second quarter to $5.1 million from $20.1 million during the second quarter last year.
Net loss improved, however, to a loss of $5.6 million, which included an $800,000 charge related to the company’s cost-reduction plan. That compares with a net loss of $9.2 million reported during the same period last year.
The company said much of its restructuring related to the loss of the Sprint Nextel contract was completed during the second quarter, including layoffs, resolution of operating leases, reduced service provisioning costs and asset sales.
Gary Henry, president and chief executive officer of the company, said Metro One is working toward a goal of returning to profitability and pointed to recent contracts with XO Communications, Midwest Wireless, SunCom Wireless, Jingle Networks, Chinook Wireless and Mobi PCS.
