logo
Share SHARE
FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Internet giant Google Inc. (GOOGL, GOOG) has launched a new online flight search tool that makes it easy to find out the best flight deal. The tool dubbed "Google Flights" provides a calendar that one can scroll through and see the lowest fare highlighted for each day. One can also use the lowest... Hyperloop Transportation Technologies, a start-up that has adopted Elon Musk's ambitious project of high-speed transportation system, plans to build a Hyperloop test track in California and completed as early as 2016. Hyperloop Test Technologies, a crowd-funded company, plans to take Musk's dream... Colors have set the social media afire after an otherwise innocuous photo of a bodycon dress kept users guessing as to what hues permeate it. Opinions are divided, with some seeing the dress as white and gold, and others as blue and black. The photo was posted on Tumblr by a user called Swiked.
comments powered by Disqus
Follow RTT