Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

NII Holdings Swings To Loss In Q4

NII Holdings Inc. (NIHD: Quote) the company that provides wireless communication services under the Nextel brand name, Thursday posted a loss for the fourth quarter particularly on the back of increased impairment and restructuring charges.

For the period, the company posted net loss of $592.9 million versus a profit last year of 3.2 million. On a per share basis, loss stood at $3.45 compared with a profit of $0.02 a year ago.

Ten analysts on average polled by Thomson Reuters estimated loss per share of $1.21 for the quarter. Analyst estimates typically exclude one-time items.

Operating loss for the fourth quarter reflects one-time charges associated with NII Holdings's actions to improve its subscriber base in Brazil and a $299 million non-cash asset impairment charge to write down the value of its assets in Chile, said the company in a statement. Impairment and restructuring charges for the three months totaled $306.5 million versus nil last year.

Operating revenue for the period slipped to $1.465 billion from $1.599 billion for the corresponding period last year, mainly dragged down by service and other revenues. Analysts were hoping for higher revenues of $1.50 billion.

For the three months, the company said it added about 2,000 net subscribers to its network, which reflects the impact of its decision to accelerate the deactivation of unprofitable customers in Brazil, which resulted in a 292,000 net subscriber loss in Brazil for the quarter.

Register
To receive FREE breaking news email alerts for NII Holdings Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.