MONTREAL-Bell Canada International Inc. announced its consolidated revenues for the second quarter, ended June 30, rose to $124.5 million, an increase of 3 percent, compared with revenues of $120.5 million for second-quarter 1998. Its proportionate revenues, the company said, rose 18 percent to $78.8 million from $67 million for the same period last year.
However, proportionate earnings before interest, taxes, depreciation and amortization for the second quarter declined to $5.6 million from $9.9 million in the second quarter of 1998. This is due to a lower contribution from its Colombian cellular operations, nonrecurring management fees earned in 1998 and expenses incurred in the start-up of BCI’s second Brazilian cellular operator, Telet, and Mexican local exchange carrier Axtel, said BCI.
“While the severe economic downturn in Colombia is a matter of concern and has affected our overall results in the second quarter, I am encouraged by the positive results from our first Latin American competitive local exchange carrier Axtel, where initial demand for service has far exceeded expectations,” said Derek Burney, BCI chairman and CEO. “The early performance and promise of Axtel augurs well for our two Brazilian [competitive local exchange carriers], which are scheduled for launch by the end of this year.”
Burney said ongoing growth in its South Korean and Taiwanese personal communications services operations has helped to offset results in its Latin American mobile operations.
