GREENVILLE, S.C.-The recognition of a $95.8 million after-tax gain on the sale of Dial Page Inc.’s paging operation accounted for a $38.7 million, or $1.83 per share, net income for the three months ended Sept. 30. The company recorded a net loss of $39.4 million, or $1.95 per share, for the same period a year ago.
“We are delighted that the sale of the paging business has been completed and look forward to closing the merger with Nextel Communications Inc.,” said Jeffrey Hultman, Dial Page’s president and chief executive officer.
The company reported that its wholly owned specialized mobile radio subsidiary, Dial Call Communications Inc., had 4,700 digital subscriber units in service on Sept. 30-an increase of 3,500 for the quarter. On June 20, Dial Call began commercially operating its digital mobile network in North and South Carolina, Georgia and Alabama.
Qualcomm posts income of $10.9M for quarter
SAN DIEGO-Qualcomm Inc. reported net income of $10.9 million, or 17 cents per share, for its fourth quarter ended Sept. 24, compared with a net loss of $1.7 million, or 3 cents per share, for the same period 1994. The company attributed the loss in 1994 to a one-time legal settlement and associated costs.
Revenues for the fourth quarter were $121.5 million, a 54 percent increase compared with revenues of $78.7 million in the fourth quarter of fiscal 1994. “Financial results for the fourth quarter and fiscal year were strong,” said Irwin Jacobs, Qualcomm’s chief executive officer. “The successful equity offering has given us very substantial financial resources to take advantage of the opportunities ahead.”
Qualcomm, a provider of Code Division Multiple Access infrastructure and subscriber equipment, said its OmniTracs business has experienced continued growth in domestic and international markets. The company noted a majority of larger cellular carriers and two of the personal communications services network operators have chosen to use CDMA equipment in their nationwide networks.
Geotek’s buildout costs contribute to firm’s loss
MONTVALE, N.J.-Geotek Communications Inc. reported total revenues of $20.9 million for the third quarter ended Sept. 30. The figure is a 19 percent increase from $17.6 million the previous year. Revenues from wireless communications activities increased 26 percent from $1.7 million on Sept. 30, 1994, to $8.2 million for the third quarter of this year.
The company said continued subscriber growth at National Brand Three Ltd. and higher revenues from communications products activities accounted for the majority of the increase.
Geotek’s third-quarter net loss was $21.2 million, or 43 cents per share, compared with $12.6 million, or 26 cents per share, in 1994. “The buildout of our U.S. networks is continuing and IBM Corp., our subcontractor, is working on approximately 60 sites in the United States,” said Yaron Eitan, Geotek’s president and chief executive officer. “We are commissioning FHMA (Frequency Hopping Multiple Access) networks in Philadelphia, Washington, D.C., Baltimore and Boston, with Miami and New York expected to begin operating shortly.”
Glenayre posts increase in net income and sales
CHARLOTTE, N.C.-Glenayre Technologies Inc. reported significant increases in net income and net sales for the third quarter ended Sept. 30.
The company’s net income rose 151 percent for the third quarter to $21.1 million, compared with $8.4 million for the same period in 1994. Earnings per share Sept. 30 increased 138 percent to 50 cents per share on a fully diluted basis, compared with 21 percent per share Sept. 30, 1994.
Glenayre produced $88.4 million in net sales for the third quarter-a 101 percent increase from $43.9 million for the third quarter 1994.
Ray Aridzzone, Glenayre president and chief executive, noted, “We have experienced continued strong growth in the paging and messaging markets worldwide, and, combined with the increased acceptance of Glenayre’s products and services, provided the results to date.” Growth in the paging service provider industry correlates to Glenayre’s infrastructure expansion.