FREEHOLD, N.J.-Paging Partners Corp. reported a decrease in net loss for the quarter ended March 31.
Net loss for the quarter was $464,000, or 8 cents per share. That compares with net loss of $658,000, or 14 cents per share, for the first quarter of 1996, and net loss of $562,000, or 10 cents per share, for the fourth quarter of last year.
Revenues increased 12 percent to $1.77 million, compared with revenues of $1.58 million for the same period last year.
“Our stock price has suffered as the paging industry has fallen out of favor with the Wall Street community,” said Richard Giacchi, president of Paging Partners. “However, our fundamentals are improving and we continue double digit growth in `state-of-the-art’ alphanumeric messaging and data services.
“We have significantly less debt than our major competitors and have avoided costly investments in questionable new technologies,” he added. “We believe that these advantages will translate into increased market valuation for our shareholders.”
Paging Partners provides alphanumeric paging and other one-way wireless messaging services to resellers in an area from southern New Hampshire to northern Virginia.