WESTBOROUGH, Mass.-Arch Wireless Inc.’s first-quarter results show it is fairing much better than many other messaging companies, with a 75-percent increase in net revenues compared to a year ago.
The company’s net revenues were $316 million for the first quarter, ended March 31, up from $181 million during the same period last year. Consolidated first quarter Earnings Before Interest, Taxes, Depreciation and Amortization increased from $63 million in last year’s first quarter to $89.5 million this year.
The company reported 63,000 two-way messaging unit additions during the quarter, bring the company’s total to 221,000. The company lost 847,000 one-way units during the first quarter, which the company said was in line with its expectations.
Also, Arch said its merger with PageNet continues to proceed, and this quarter’s results reflect PageNet’s operating performance.
“We are pleased that Arch’s first- quarter operating performance met our expectations as the benefits of merger integration savings and two-way subscriber growth began to take hold,” said C. Edward Baker, Jr., Arch’s chairman.
However, Arch was recently kicked off the Nasdaq National Market and its stocks are now traded on the OTC Bulletin Board, an over-the-counter electronic quoting system.
