BCE Mobile Reports Third Quarter Earnings.MONTREAL--(BUSINESS WIRE)--Oct. 24, 1995--BCE MOBILE (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME: BCX BCX Beloreck (Russia) ) BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Mobile Communications Inc. (BCE Mobile) announced its unaudited consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: results for the third quarter of 1995. The corporation reported consolidated net income of $15.6 million for the quarter ($0.22 per share) compared to $12.1 million ($0.18 per share) in 1994. For the nine months, net income was $38.2 million ($0.55 per share) compared to $27.6 million ($0.40 per share) last year. Cellular service operations continued to be the largest contributor to consolidated earnings growth in the quarter and the year to date. Said Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. Ferchat, BCE Mobile Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "Net income after just nine months is already ahead of the twelve-month total for 1994. It is also noteworthy that cumulative net income has now exceeded past losses resulting in a positive retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. position on our balance sheet." Consolidated revenues were $215.7 million for the quarter, an increase of 27 percent over 1994. For the year to date, revenues were $578.1 million or 25 percent higher than the same period last year. The increases were due mainly to higher contributions for cellular and paging service operations and from product sales. Consolidated operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. (operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. before depreciation and amortization) for the three months ended September September: see month. 30, 1995 was $73.1 million, up 19 percent from the $61.2 million reported in the third quarter of 1994. For the year to date, the figure was $199.5 million, 20 percent higher than the $166.8 million reported in 1994. An improved contribution from cellular service operations was responsible for the increases in both the quarter and the year to date. BCE Mobile's consolidated operating cash flow margin for the quarter was 34 percent compared to 36 percent for the third quarter of 1994. The margin for cellular service was 43 percent for the quarter compared to 44 percent last year. On a year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. basis, the cellular margin stood at 42 percent compared to 44 percent one year ago. The quarterly revenue contribution of cellular service increased 26 percent from $129.7 million in 1994 to $163.0 million reflecting significant growth in the subscriber subscriber, n the person, usually the employee, who represents the family unit in relation to the prepayment plan. Other family members are dependents. Also called certificate holders or enrollees. base, partly offset by lower revenue per subscriber. Cellular subscribers numbered 704,000 at September 30, 1995, an increase of 37,000 since June June: see month. 30, 1995 and 188,000 or 36 percent since September 30, 1994. Churn churn: see butter. (the rate of subscriber deactivation de·ac·ti·vate tr.v. de·ac·ti·vat·ed, de·ac·ti·vat·ing, de·ac·ti·vates 1. To render inactive or ineffective. 2. To inhibit, block, or disrupt the action of (an enzyme or other biological agent). 3. ) during the third quarter of 1995 averaged 1.3 percent compared to 1.2 percent last year. BCE Mobile and the other cellular affiliates of Canadian telephone companies This is a list of telephone companies in Canada. ILECs, Incumbent Local Exchange Carriers, are indicated with a *.
of a point on a graph or grid map, the points on the horizontal and vertical axes which identify the location of the point on the graph/map. the delivery of national cellular services on their behalf. Mobility Canada cellular subscribers numbered 1,332,000 at September 30, 1995. Based on the latest available data (June 30, 1995), Mobility Canada held some 60 percent of the total Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. cellular market. Paging, data and airline passenger communications services contributed $18.6 million to consolidated revenues compared to $15.1 million in 1994. The increase was due to higher contributions from all three services. The number of pagers in service at September 30, 1995 was some 263,000, 14,000 higher than at the end of the second quarter and 50,000 or 23 percent higher than at the end of the third quarter of 1994. Revenues from product sales and other operations totaled $34.2 million for the quarter, up from $24.8 million in 1994 due to higher cellular product sales. BCE Mobile is the Canadian leader in mobile communications. Its subsidiaries, operating under the Bell Mobility banner Same as banner ad. 1. banner - The title page added to printouts by most print spoolers. Typically includes user or account ID information in very large character-graphics capitals. , provide cellular, paging, data and airline passenger communications services and are involved in the sale of cellular hardware and private radio systems. BCE Mobile is a publicly traded subsidiary of BCE Inc. -0-
Condensed Statements of Income
(unaudited)
Three months Nine months
ended Sept. 30 ended Sept. 30
($millions) 1995 1994 1995 1994
____ ____ ____ ____
Revenues
Cellular service 163.0 129.7 448.6 354.4
Paging, data & airline 18.6 15.1 52.1 42.7
passenger
Product sales & other 34.1 24.8 77.4 67.0
_____ _____ _____ _____
215.7 169.6 578.1 464.1
Cost of revenue
Cellular service 23.5 20.6 65.8 57.8
Paging, data & airline 4.8 4.2 14.3 12.1
passenger
Product sales & other 33.0 22.7 73.0 60.8
Selling 48.0 36.3 137.5 96.5
Administrative 33.3 24.6 88.0 70.1
_____ _____ _____ _____
Operating income before
depreciation & amortization 73.1 61.2 199.5 166.8
Depreciation & amortization 39.1 30.5 110.2 88.8
_____ _____ _____ _____
Operating income before under- noted items 34.0 30.7 89.3 78.0 Interest expense (8.4) (25.4) (26.8) (8.8)
Other income (net) 0.3 0.1 1.9 0.6
_____ _____ _____ _____
Income before income tax 25.9 22.0 65.8 51.8
Income taxes - current 0.5 0.7 1.2 2.6
- deferred 9.8 9.2 26.4 21.6
_____ _____ _____ _____
Net income 15.6 12.1 38.2 27.6
_____ _____ _____ _____
_____ _____ _____ _____
Earnings per common share $0.22 $0.18 $0.55 $0.40 Average number of common shares (millions) 69.3 69.3 69.3 69.3
Condensed Statements of Changes in Financial Position
(unaudited)
Three months Nine months
ended Sept. 30 ended Sept. 30
($millions) 1995 1994 1995 1994
____ ____ ____ ____
Operating activities
Cash flow from operations 64.3 53.0 173.3 139.0
Change in working capital 29.1 5.2 (19.7) (6.5)
Other items (1.8) 0.1 (2.3) 0.2
_____ _____ _____ _____
91.6 58.3 151.3 132.7
Financing activities 114.2 (16.0) 129.4 (42.0)
Capital expenditures (71.7) (25.8) (145.2) (76.4)
Investments & other (8.8) (0.6) (17.2) (3.2)
_____ _____ _____ _____
Change in cash 125.3 15.9 118.3 11.1 Condensed Balance Sheets
September 30 December 31
($millions) 1995 1994
____ ____
(unaudited)
Current assets 335.4 163.9
Fixed assets, net 680.4 644.0
Other assets 105.6 87.2
_______ _______
1,121.4 895.1
_______ _______
_______ _______
Current liabilities (excl. 194.7 161.3
debt)
Debt 426.0 297.8
Other liabilities 30.5 5.1
Shareholders' equity 470.2 430.9
_______ _______
1,121.4 895.1
_______ _______
_______ _______
CONTACT: John Gutpell, 514/956-4827 |
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