NEW YORK-Price Communications Corp., which sold its wireless business to Verizon Wireless last August, reported $12.8 million in fourth quarter net income last year, a return of 24 cents per share, compared with $311,000 for the fourth quarter of 2001, a return of 1 cent per share.
For the year, Price posted net income of $31.7 million, a return of 59 cents per share, compared with $13.2 million in net income for 2001, a return of 24 cents per share.
Robert Price, president of Price Communications, said the company would hold its annual shareholder meeting in April 28 to discuss future endeavors.
“We look forward to continuing the growth of this corporation,” said Robert Price, president of Price Communications. “We are investigating prudent new business opportunities including mutual fund management companies, banks, cellular properties, independent telephone companies, broadcasting and/or publishing companies, and the idea of converting our company into a closed-end investment company.”
