LUXEMBOURG-Millicom International Cellular S.A. showed second quarter revenues of $29 million, a 58 percent increase compared with earnings of $18.4 million a year earlier.
For the three-month period ended June 30, Millicom reported a net loss of $4.2 million, or 9 cents per share, compared with a loss of $3.3 million, or 7 cents per share, in the second quarter 1994.
In the second quarter, the company added 33,000 net subscribers. Total subscribers are 171,000, up 101 percent from a year ago.
In April, Millicom completed a public stock offering of 3 million shares, which yielded net proceeds of about $72 million. The company intends to use the money to develop new cellular systems-principally in Vietnam and India-and perhaps to invest in additional licenses and existing operations.
Millicom said it has cellular interests in 19 countries in Latin America, Asia, Europe and Africa.
Geotek losses attributed to network development
MONTVALE, N.J.-Continued costs associated with the rollout and development of a U.S. digital network and consolidated losses from operations increased the second quarter net loss for Geotek Communications Inc. to $12.4 million, or 26 cents per share, compared with $9.2 million, or 20 cents per share in the second quarter last year.
Geotek reported revenues for the three months ended June 30 of $20.3 million, compared with $16.1 million a year ago. This reflects a 26 percent increase.
Geotek provides voice and data wireless communications, with network interests in the United States and Europe.
Palmer sets OCF record, credits growth figures
FORT MEYERS, Fla.-“Through continued dramatic subscriber growth and a successful emphasis on maintaining low operating costs,” Palmer Wireless Inc. achieved a milestone in operating cash flow-up 63 percent to $10.1 million-and other financial results for the second quarter ended June 30, said William Ryan, president and chief executive officer of the company
The company’s net income reached $1.6 million, or 7 cents per share, in the second quarter, a 43 percent increase compared with $1.1 million, or 6 cents per share, for the same quarter in 1994.
Palmer Wireless reported revenues of $25.9 million for the quarter, up 58 percent from $16.4 million a year ago.
The company added about 13,300 net subscribers during the second quarter, which represents a 23.4 percent increase from about 10,800 net subscribers added in the same period of 1994. Total subscribers reached nearly 142,000 at the end of the quarter.
Palmer Wireless owns and operates cellular systems in Florida, Alabama and Georgia, covering a population of about 2.6 million.
IFR reports Army sales helped boost net income
WICHITA, Kan.-For the quarter ended June 30, IFR Systems showed sharp increases in net income, up 104 percent to $533,000, or 9 cents per share, compared with $261,000 or 5 cents per share, for the same period last year.
The increase in net income is chiefly attributed to a 131 percent increase in U.S. Army sales and reduced production costs of test instruments, said IFR.
IFR’s revenues for the three months ended June 30, or fourth quarter fiscal 1995, totaled $18.2 million, a 5 percent increase from $17.3 million for same quarter 1994.
“IFR’s financial performance for fiscal 1995 reflected progress in each element of our strategic plan for growth, including the introduction of important new test instruments for cellular telephone, fiber optic and other rapidly growing telecommunications markets,” stated Alfred Hunt III, IFR president and chief executive officer.
Hunt noted IFR completed its acquisition of York Technology in June.
Construction costs affect loss for Paging Partners
FREEHOLD, N.J.-Paging Partners Corp. showed an increase in revenue for the quarter, while net income declined.
President Richard Giacchi noted costs associated with construction and marketing of its corridor system and other software developments had a negative impact on the company’s financial results.
The company expanded the territory of its corridor system during the first half of the year from the Baltimore/Washington, D.C., area to Philadelphia and New York.
For the three month period ended June 30, Paging Partners reported a net loss of $649,000, or 14 cents per share, compared with a net loss of $135,000, or 4 cents per share, for the second quarter 1994.
Revenues reached $1.3 million in the quarter, up 34 percent compared with $980,000 for the same period 1994.
