BCE Mobile Reports Strong Cellular Growth in the Fourth Quarter (Part 2 of 2, Financial Tables).MONTREAL--(BUSINESS WIRE)--Jan. 27, 1997--BCE Mobile Inc. (ME;TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). BCX BCX Beloreck (Russia) )
STATEMENTS OF INCOME
(unaudited)
Three months Twelve months
ended December 31 ended December 31
($ 000) 1996 1995 1996 1995
____ ____ ____ ____
(audited)
Revenues
Cellular service 189,944 163,065 708,688 597,897
Paging service 17,647 15,632 68,301 58,946
Equipment sales & other
operations 56,470 42,446 156,491 129,172
Intercompany eliminations (1,845) (1,610) (7,174) (4,988)
______ ________ _______ _______
262,216 219,533 926,306 781,027
Cost of revenue 80,867 68,128 252,001 218,026
Selling expense 64,776 52,087 210,967 174,525
Administrative expense 43,187 33,147 160,836 122,774
_______ _______ _______ _______
Operating income before
depreciation, amortization
and special charges 73,386 66,171 302,502 265,702
Depreciation and
amortization 43,501 37,453 170,217 147,648
Special charges 48,120 0 70,620 0
_______ _______ _______ _______
Operating income before
undernoted-net (18,235) 28,718 61,665 118,054
Interest expense (6,593) (8,515) (31,995) (33,930)
Gain on sale of investment 64 0 66,495 0
Other items 17 548 (4,513) 2,378
_______ _______ ________ ______
Income before income taxes(24,747) 20,751 91,652 86,502
Income taxes - current (5,172) 19,648 34,724 20,882
deferred (3,482) (11,773) (7,008) 14,577
_______ _______ ________ ______
(8,654) 7,875 27,716 35,459
_______ _______ ________ ______
Net income (loss) (16,093) 12,876 63,936 51,043
_______ _______ ________ ______
_______ _______ ________ ______
Earnings (loss) per common
share (dollars) (0.23) 0.19 0.92 0.74
_______ ______ ______ ______
_______ ______ ______ ______
Net income (loss)
- US GAAP (15,366) 12,263 61,928 48,902
Earnings (loss) per
common share -
US GAAP (dollars) (0.22) 0.18 0.89 0.71
Average number of
common shares
outstanding (thousands) 69,350 69,330 69,346 69,305
BALANCE SHEETS
December 31 December 31
($ 000) 1996 1995
____________ ___________
(unaudited) (audited)
Assets
Current assets
Cash & temporary cash
investments 0 59,088
Accounts receivable 180,745 145,986
Inventories 44,209 20,738
Prepaid expenses & other
current assets 14,175 34,929
_________ _______
239,129 260,741
Fixed assets - net 893,215 730,072
Investments & other assets 136,342 139,642
__________ _________
1,268,689 1,130,455
__________ _________
__________ _________
Liabilities
Current liabilities
Bank overdraft 9,639 0
Accounts payable 235,738 163,996
Due to related companies 10,659 8,807
Deferred revenue 40,725 34,439
Debt due within one year 2,113 1,706
__________ ________
298,874 208,948
Long-term debt 421,277 427,294
Deferred income taxes 0 5,583
Other liabilities 691 5,166
__________ ________
720,842 646,991
Shareholders' Equity
Share capital and contributed
surplus 470,752 470,308
Retained earnings 77,092 13,156
__________ ________
547,844 483,464
__________ ________
1,268,686 1,130,455
__________ _________
__________ _________
STATEMENTS OF CHANGES IN FINANCIAL POSITION
(unaudited)
Three months Twelve months
ended December 31 ended December 31
($ 000) 1996 1995 1996 1995
____ ____ ____ ____
(audited)
Operating activities
Net income (loss) (16,093) 12,876 63,936 51,043
Items not affecting
cash
Depreciation and
amortization 43,501 37,453 170,217 147,648
Deferred income
taxes (3,482) (11,773) (7,008) 14,577
Gain on sale
of investment (64) 0 (66,495) 0
Special charges 48,120 0 70,620 0
Other (153) 1,207 4,249 (254)
_____ _____ ______ _____
Cash flow from
operations 71,829 39,763 235,519 213,014
Decrease (increase)
in deferred charges 16 2,169 (22) (22)
Change in working
capital (27,126) 38,257 (32,293) 18,520
______ ______ _______ _______
44,719 80,189 203,204 231,512
Financing activities
Increase (decrease)
in debt 79,278 1,809 (5,610) 129,992
Issue of share capital 217 374 444 1,494
Other 451 2,810 (996) 2,911
_____ _______ _____ ______
79,946 4,993 (6,162) 134,397
Investing activities
Capital expenditures (132,687) (96,673) (327,712) (241,844)
Proceeds of sale 500 2,445 78,483 2,445
Investments and
acquisitions (3,439) (44,990) (16,570) (62,381)
Other 9 744 30 936
_____ ______ ______ ______
(135,617)(138,474) (265,769) (300,844)
Increase (decrease)
in cash (deficiency) (10,952) (53,292) (68,727) 65,065
Opening cash
(deficiency) 1,313 112,380 59,088 (5,977)
_____ _______ ______ _______
Closing cash
(deficiency) (9,639) 59,088 (9,639) 59,088
_____ _______ ______ _______
_____ _______ ______ _______
CONTACT: BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Mobile Communications Inc. John Gutpell, 514/956-4827 jgutpell@sympatico.ca |
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