MEXICO CITY—Prepaid wireless provider TracFone Wireless Inc. reported soaring third quarter revenues of $330 million, a 36 percent increase over its year-ago figure of $243 million. The Miami-based prepaid carrier’s subscriber base grew by 41.1 percent year-over-year, from 5.1 million to 7.2 million as...
HOUSTON—Crown Castle International Corp. said its net loss narrowed during the third quarter as revenues increased.Site rental revenues increased 17.1 percent to $179 million from $152.8 million for the same period last year. Total net revenues were $200.9 million, up from $172.3 million for...
WESTCHESTER, Ill.—Andrew Corp.’s fourth-quarter results revealed the financial burden the company absorbed in part due to its now-abandoned merger proposed earlier this year by rival ADC Telecommunications Inc. Andrew reported a quarterly loss of $59.7 million, a disappointing turnaround from the year-ago profit of...
SAN DIEGO—Novatel Wireless Inc. reported a net loss for the third quarter despite increased revenues. Revenues for the quarter increased 32 percent to $55.6 million from revenues of $42.1 million during the same period last year. However, the company reported a net loss of...
DALLAS—It’s all about the outlook, even for companies performing well. Texas Instruments Inc. was reminded of this Wall Street maxim as it reported an 11-percent rise in third-quarter net income to $702 million and a 13-percent rise in revenue to $3.76 billion from the...
PARIS—Alcatel Inc.’s third-quarter net profits tumbled 42 percent as sales of wireless network infrastructure stalled during the quarter, leaving the company with net income of just $194 million after bringing in $334 million a year-ago. Revenues rose 1.4 percent year-over-year from $4.13 billion in...
BOSTON—American Tower Corp. confirmed it will restate financial results from 2005 through the first quarter of this year after finding discrepancies in "measurement dates" of certain stock-option grants. AMT said an internal committee is still reviewing the stock-options backdating matter and plans to submit...
L.M. Ericsson, the world's largest equipment supplier, posted a 17-percent increase in year-over-year third-quarter net profits thanks to its wildly successful handset joint venture, Sony Ericsson Mobile Communications L.P. The mobile networks giant owns half of Sony Ericsson, which shipped nearly 20 million handsets...
MOUNTAIN VIEW, Calif.—Wireless content and technology vendor VeriSign Inc. reported revenues for the third quarter that were virtually identical to its results from the same quarter a year ago, but withheld profit-and-loss statistics due to the company’s internal review of its stock-option practices. VeriSign...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News. CarrierPrudential Equity Group raised its price target on several carriers, including Verizon Communications...
ESPOO, Finland—Nokia Corp. reported a mixed bag of third-quarter results that may reflect the "re-grouping" nature of the traditionally slow quarter as the business gears toward the lucrative final quarter of the year. One analyst called it a "sigh of relief" quarter for the...
CARY, N.C.—TowerCo L.L.C. announced that its credit facility from CapitalSource has been raised from $35 million to $75 million. The two-year-old tower company said it will use the funds to expand its tower portfolio from its existing 360 towers to more than 600 towers....
SCHAUMBURG, Ill.—After eye-opening, second-quarter results that seemed to tilt the handset game table in its favor, Motorola Inc. announced third-quarter revenue and earnings that fell short of guidance and analysts’ expectations—despite otherwise strong fundamentals and record handset shipments. The news took Motorola’s stock down...
LOUISVILLE, Ky.—US Wireless Online, a wireless Internet broadband network operator, said it plans to sell a majority equity interest in the company to IElement Corp. under a nonbinding letter of intent signed by the companies. Dallas-based IElement provides advanced communication services and Voice over...
SEOUL, South Korea—As promised, the world’s two tier-one Korean handset vendors rebounded from their second-quarter doldrums. Based on handset shipment volumes—and despite a strong showing in North American markets—LG Electronics Co. Ltd. slipped to fifth place in global rankings behind a surging Sony Ericsson...
IRVINE, Calif.—WiSpry Inc., a developer of chips with radio frequency integrated circuits for wireless devices, picked up $13.5 million in its second round of funding. New investor L Capital Partners led the round, joined by fellow new investor Hotung Capital Management and existing investors...
WATERLOO, Ontario—Research In Motion Ltd. said it will delay filing its interim financial statements for the quarter that ended Sept. 2 until the company can complete its internal review of its historical stock-option practices. The quarterly filing is due Oct. 17. The company did...
Representatives from the former Flextronics Software Services business are making the media rounds, clamoring for attention, now that the company is about to announce its new identity-fully six months after being weaned from its Fortune Global 500 parent last spring. Six months is a...
As the wireless industry rounds third base on its way into the holiday home stretch, many will depend on momentum from the third quarter to carry them through. The first round of third quarter earnings has begun to trickle in, with most of the...
NEW YORK—Samsung Electronics Co. Ltd. increased its shipment volume in the third quarter to 30.7 million, a 17-percent increase from the previous, disappointing quarter, according to CIBC World Markets. The South Korean vendor’s shipments beat its own guidance and CIBC’s earlier estimates of 28.8...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News.CarrierStandard & Poor’s Ratings Services assigned its B- corporate credit rating to MetroPCS...
STOCKHOLM, Sweden—Sony Ericsson Mobile Communications L.P., at five years old, is pursuing two trends in the rapidly changing mobile handset market—a worldwide thirst for music and imaging—and is profiting handsomely in its chosen markets. The partnership between the Japanese consumer electronics whiz and the...
NEW YORK—Standard & Poor’s Ratings Services assigned its B- corporate credit rating to MetroPCS Communications Inc. and its CCC rating to MetroPCS Wireless Inc.’s $1.1 billion of senior unsecured notes due 2014. S&P said the company’s outlook is stable.The ratings firm also said it...
CHICAGO—U.S. Cellular Corp. announced improved service revenues and operating income, as well as a jump in its customer base. Although the numbers were mostly positive, investors seemed somewhat ambivalent as the carrier’s stock remained relatively unchanged at about $58 per share. "Outstanding customer service...
