NEW YORK-World Access Inc., an Atlanta-based developer and manufacturer of wireline and wireless switching, transport and access products, announced huge increases Oct. 27 in net income, net income per share and sales.
Sales totaled $27.5 million, up about $15 million, or 121 percent compared with the $12.4 million in sales reported for third quarter 1996. Slightly more than half of the increase in sales for the most recent quarter was contributed by World Access’ two acquisitions this year: Cellular Infrastructure Supply Inc., an equipment and technical support provider to wireless telecommunications carriers, and Galaxy Personal Communications Services Inc., comprised of 30 radio-frequency engineers who provide value-added radio engineering and consulting services to wireless telecommunications carriers.
For the first nine months of this year, sales totaled $71.7 million, an increase of approximately $35.3 million, or 97 percent, compared with $36.4 million in sales reported during the comparable period a year ago.
For the three months that ended Sept. 20, the company realized net income of $4.4 million, an increase of $2.7 million, or 166 percent, compared with third quarter 1996. For the first nine months of this fiscal year, World Access’ net income totaled $10.4 million, up about $6.1 million, or 144 percent, compared with the same period last year.
The company reported third-quarter net income per share of 22 cents, compared to 12 cents per share for the third quarter of 1996. Net income per share, January through September, was 55 cents, up from 31 cents during the first nine months of 1996.
