Nov 8, 2002 : Primus Reports Q3 Financial Results
📅 - Facilities-based service provider PRIMUS Telecommunications Group Inc. (primustel.com) announced on Thursday that it has reported its results for the third quarter 2002, setting record levels of EBITDA and operating income but posting a net loss of $27 million.
PRIMUS's net revenue for the quarter was $261 million, compared to $251 in the second quarter of 2002 and $272 in the same period last year.
All three of the company's geographic regions reported an increase in revenue during the third quarter of 2002. Net revenue for the quarter included 37 percent from North America, 36 percent from Europe and 27 percent from Asia-Pacific. 76 percent of revenue came from retail and 24 percent from carrier business.
Revenues for Data/Internet and VoIP services grew to $44 million, representing 17 percent of total revenue for the quarter. Voice revenues accounted for 83 percent of revenue in the third quarter.
EBITDA for the quarter was a record $26 million, an increase of 10 percent from the previous quarter and more than triple the amount of the same quarter last year.
The company had a net loss for the quarter of $27 million, or 41 cents per share, compared with a net profit of $46 million for the same period last year.
"With the revenue growth achieved over the last two quarters, we are confident of meeting our revenue goal for 2002 of $1 billion," said Neil L. Hazard, executive vice president and chief operating and financial officer of PRIMUS. "Similarly, with our increasing levels of EBITDA generation over the last five quarters, we are also confident of attaining the high end of our full year 2002 EBITDA goal in the range of $95 million to $100 million. The Company expects its full year 2002 capital expenditures to be in the range of $25 million to $30 million."
PRIMUS's net revenue for the quarter was $261 million, compared to $251 in the second quarter of 2002 and $272 in the same period last year.
All three of the company's geographic regions reported an increase in revenue during the third quarter of 2002. Net revenue for the quarter included 37 percent from North America, 36 percent from Europe and 27 percent from Asia-Pacific. 76 percent of revenue came from retail and 24 percent from carrier business.
Revenues for Data/Internet and VoIP services grew to $44 million, representing 17 percent of total revenue for the quarter. Voice revenues accounted for 83 percent of revenue in the third quarter.
EBITDA for the quarter was a record $26 million, an increase of 10 percent from the previous quarter and more than triple the amount of the same quarter last year.
The company had a net loss for the quarter of $27 million, or 41 cents per share, compared with a net profit of $46 million for the same period last year.
"With the revenue growth achieved over the last two quarters, we are confident of meeting our revenue goal for 2002 of $1 billion," said Neil L. Hazard, executive vice president and chief operating and financial officer of PRIMUS. "Similarly, with our increasing levels of EBITDA generation over the last five quarters, we are also confident of attaining the high end of our full year 2002 EBITDA goal in the range of $95 million to $100 million. The Company expects its full year 2002 capital expenditures to be in the range of $25 million to $30 million."
Reads: 1991 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/pri110802.cfm
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