012 Smile.Communications Ltd. (SMLC), an Israeli telecommunications service provider, Thursday reported a surge in fourth-quarter profit, helped by an increase in revenues.
The company's quarterly net income surged to NIS 32 million, or US$8.5 million, from NIS 6.5 million in the year-ago quarter. On a per-share basis, net income was NIS 1.27, or US$0.33, compared to NIS 0.28 last year.
Revenues for the quarter grew 10% to NIS 298 million, or US$78 million, from NIS 271 million in the earlier year. Revenues from broadband services increased by 13% year-over-year, while traditional telephony services revenue grew by 7%.
For the full fiscal year, the company's net income increased to NIS 55.97 million, or US$14.72 million, from NIS 39.89 million in the previous year. On a per share basis, earnings were NIS 2.21 or US$0.58, compared to NIS 2.05 per share in the prior year.
Revenues for the year increased to NIS 1.106 billion, or US$291 million, from NIS 1.102 billion in the preceding year. Income from operations increased to NIS 132.52 million from NIS 114.96 million last year.
Stella Handler, chief executive officer said, "Given today's uncertain macro-markets, we expect that the revenues of some of our services will be impacted over the next few quarters."
"Nonetheless, with a strong financial platform, efficient operations and proven sales and marketing capabilities, we believe we are positioned to continue building our business in all market conditions and to take full advantage of the Israeli market's substantial long-term growth potential," Handler added.
SMLC closed Wednesday's regular trading at $6.34 on the Nasdaq.
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