Mobile communication services provider NII Holdings Inc. (NIHD) Thursday posted a loss for the first quarter versus a profit for the corresponding period last year, reflecting incremental expenses related to the company's deployment of its planned next generation networks, lower average revenue per subscriber or ARPU on a local currency basis and weaker average foreign currency exchange rates.
For the quarter the firm posted loss of $207.5 million compared with a profit of $13.6 million last year. On a per share basis loss for the period totaled $1.21 versus earnings of $0.08 last year.
Nine analysts on average polled by Thomson Reuters estimated loss per share of $.67. Analysts estimates typically exclude one-time items.
Operating revenue for the quarter was $1.413 billion, down from $1.633 billion last year. Analysts on average were looking for revenue of $1.46 billion for the quarter.
The company said consolidated ARPU for the period was $35, down almost $7 compared with the same period last year, citing lower priced rate plans it offered in response to more aggressive competition in recent quarters, particularly in Brazil, and from the year-over-year weakening in local foreign currency exchange rates.
The company further suffered from impairment and restructuring charges of $128 million for the three months versus nil last year.
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