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.CarrierMerrill Lynch initiated coverage on Dobson Communications Corp. with a buy rating and...
OTTAWA, Canada—Mobile Voice over Internet Protocol software developer SIPquest said it picked up $7 million during its third round of funding, money that comes as the company works to rename itself FirstHand Technologies. FirstHand sells mobile client and server software through equipment vendors, systems...
BOSTON—American Tower Corp. said it received a subpoena in the rapidly widening probe of stock-option grants that is ensnaring several major wireless players. The company, which owns and operates more than 22,000 broadcast and wireless communications sites, confirmed it received the subpoena from the...
BEDFORD, Mass.—Prepaid services provider Boston Communications Group Inc. appears to be the latest wireless company to fall under suspicion for questionably timed stock-options grants. According to a report in the Wall Street Journal, BCGI approved stock-options grants to senior executives three times during a...
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 affirmed its B bank loan rating on Ntelos...
PORTLAND, Ore.—Metro One Telecommunications Inc. suffered a quarterly net loss of $5.7 million as it tried to re-group following Sprint Nextel Corp.’s decision to drop the enhanced directory-assistance provider from its iDEN-based services. Metro One reported first-quarter revenue of $15.2 million, down from $18.4...
T-Mobile USA Inc. posted a strong first quarter, beating analysts' expectations in gaining just over 1 million new customers and lowering its customer churn rate while improving its revenues and income. The carrier posted1.04 million net customer additions, which was nearly 9 percent more...
Small and mid-size carriers posted mixed results last week, with most losing customers but improving their revenues and bucking the industry trend of sliding average revenue per user. However, some carriers managed to beat analysts' expectations. UbiquiTel Inc. reported a steep drop in new...
BELLEVUE, Wash.—T-Mobile USA Inc. posted a strong 1.04 million net customer additions during the first quarter, which was above analyst expectations as well as the 957,000 subscribers the carrier added during the first three months of 2005. The nation’s No. 4 carrier noted that...
KIRKLAND, Wash.—Craig McCaw’s Clearwire Corp. filed for a $400 million initial public offering, a move that likely will help fund the company’s efforts to expand its wireless broadband operations in the United States and elsewhere. The company did not reveal how many shares it...
SAN DIEGO—Leap Wireless International Inc. said its consolidated net income more than doubled during the first quarter to $17.7 million, up from $7.5 million reported during the first quarter of 2005. The company’s stock climbed nearly 2 percent on the news to around $46.84...
SAN DIEGO—Novatel Wireless Inc., maker of wireless PC cards and broadband access solutions, reported a net loss of $1.3 million on revenues of $40.2 million in the first quarter. That contrasts with net income of $2.7 million and revenue of $32.3 million in the...
CONSHOHOCKEN, Pa.—Regional wireless operator and current Sprint Nextel Corp. CDMA affiliate UbiquiTel Inc. scored 3,800 new subscribers during the first quarter, customers that brought the carrier’s total subscriber base—excluding reseller subscribers—to about 451,700 customers. The results were well below the 10,000 to 12,000 net...
PLAINFIELD, Ind.—Brightpoint Inc. reported that its net income more than tripled during the first quarter from $2.9 million last year to $8.9 million this year. The company’s strong profit growth, however, did not excite investors, who sent the company’s stock down 2.9 percent to...
SARASOTA, Fla.—For the fourth quarter in a row, Global Signal Inc. blamed its net losses on the company’s $1.2 billion cash purchase of 6,600 Sprint Nextel Corp. towers, which the company announced in May 2005.Posting first-quarter losses of $35.1 million from revenue of $120.9...
WASHINGTON—Online wireless retailer InPhonic Inc. said it narrowed its losses from continuing operations during its fiscal first quarter, news that sent the company’s stock up more than 14 percent to $8.41 per share. The company reported a loss from continuing operations of $4 million,...
ALEXANDRIA, Minn.—Rural Cellular Corp. continued to bleed customers as its churn rate edged upward to 2.6 percent in the first quarter of 2006. However, the company’s revenues were up by about 8 percent, with particular strength in roaming revenue, and it also increased its...
OKLAHOMA CITY—Dobson Communications Corp. reported that its subsidiary Dobson Cellular Systems Inc. has initiated a cash tender offer for its $250 million aggregate principal amount of first priority senior secured floating rate notes due 2011 and a consent solicitation to amend the related noted...
Nortel Networks Ltd. late last month restated its much delayed financial results for 2003, 2004 and the first nine months of 2005, though analysts seemed indifferent to the impact. Daniel Longfield, industry analyst at Frost & Sullivan's Wireless Group says Nortel's restatements are of...
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. CarrierRBC Capital Markets lowered its 2006 EPS estimate on Alltel Corp. to $3.36...
REDWOOD CITY, Calif.—Increasing mobile gaming revenues weren’t enough to offset a hefty quarterly loss for Electronic Arts Inc. The publishing giant reported a $16 million net loss for the quarter ended March 31, marking a dramatic swing from the $8 million net profit EA...
SAN JOSE, Calif.—Terabeam Inc. reported first-quarter net losses of $4.5 million from revenue of $18.5 million. The company’s revenues were up from the $6.6 million it posted in the year-ago quarter, but Terabeam’s net losses also widened from last year’s net loss of $970,000.Terabeam...
BERWYN, Pa.—SunCom Wireless Holdings Inc.’s stock plunged about 20 percent Wednesday on Wall Street, as investors reacted to the company’s widening financial losses during the first quarter. SunCom’s total revenues dropped about 1 percent compared with the first quarter of 2005, to $201.8 million;...
NEW YORK—Verizon Wireless continued its run of strong quarterly results, boosting its service revenues by double-digits and squeezing its churn rate below 1.2 percent. The carrier added 1.7 million new customers, about 3 percent more than 2005’s first quarter. Verizon reported that 1.6 million...
