BCE Mobile reports record earnings for 1994.MONTREAL--(BUSINESS WIRE)--Jan. 23, 1995--BCE Mobile Communications Inc. (BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Mobile) today 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 fourth quarter and year 1994. The corporation reported consolidated net income of $36.6 million for the year ($0.53 per share). Included in net income were non-recurring items consisting of a $15.3 million gain on sale of a portion of the corporation's investment in Clearnet Clearnet may refer to:
v. short·ened, short·en·ing, short·ens v.tr. 1. To make short or shorter. 2. life expectancies Life Expectancy 1. The age until which a person is expected to live. 2. The remaining number of years an individual is expected to live, based on IRS issued life expectancy tables. . In 1993, BCE Mobile's net income was $3.6 million ($0.05 per share), which included net non-recurring losses of $6.6 million. Excluding the non-recurring items, net income grew some 265% from $10.2 million in 1993 to $37.2 million in 1994. This increase of $27.0 million was mainly due to higher contributions from cellular and paging services. 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, president 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. , "BCE Mobile had an outstanding year from both a growth and financial perspective. The emergence of strong, widespread consumer demand for mobility services has contributed significantly to our success and we expect this to continue in the future. My thanks to our more than 815,000 wireless customers for their confidence, and to our 2,000 employees who met the new challenges of the marketplace and delivered record earnings." Earnings for the quarter were $9.0 million ($0.13 per share) in 1994 compared to a loss of $3.9 million ($(0.06) per share ) in 1993. Excluding the non-recurring items in both years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time fourth quarter net income was $8.8 million ($0.13 per share) in 1994 compared to $2.8 million ($0.04 per share) in 1993. The $6.0 million increase was again due to higher contributions from cellular and paging services. Consolidated revenues were $170.6 million for the quarter, an increase of 21% over 1993. For the year, revenues were $630.7 million, 24% higher than in 1993. The increase was due to cellular and paging services and cellular product sales. The revenue contribution of cellular service for the twelve months increased 25% from $386.3 million in 1993 to $484.6 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 592,000 at December December: see month. 31, 1994, an increase of 76,000 since September September: see month. 30, 1994 and 171,000 or 41% since year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. 1993. The company's new Liberti LIBERTI, LIBERTINI. These two words were, at different times, made to express among the Romans, the condition of those who, having been slaves, had been made free. 1 Brown's Civ. Law, 99. There is some distinction between these words. product line which targets the consumer market was responsible for a substantial portion of the net subscriber additions during the fourth quarter. 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. ) remained relatively low during 1994, averaging 1.2% per month for the year and 1.1% in the fourth quarter. 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 1,083,000 at December 31, 1994. Based on the latest available data (September 30, 1994), Mobility Canada held some 57% 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 $58.2 million to consolidated revenues compared to $47.0 million in 1993. The increase was due to higher contributions from all three services, particularly paging. The number of pagers in service at December 31, 1994 was some 220,000, some 7,000 higher than at the end of the third quarter and 39,000 higher than at the end of 1993. The paging subscriber base grew at a rate of 22% in 1994. Revenues from product sales, private radio and other operations totaled $87.9 million for the twelve months, up 14% from 1993 due to a higher volume of cellular product sales. 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. (after depreciation) for the three months ended December 31, 1994 was $24.0 million compared to $15.1 million in the fourth quarter of 1993. For the year, the figure was $102.0 million or 55% higher than the $65.9 million reported in 1993. Improved contributions from cellular and paging services were responsible for the increase. The operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. margin for cellular service was 40% for the quarter compared to 38% in the fourth quarter of 1993. For the year, the margin was 43% compared to 42% in 1993. BCE Mobile is the Canadian leader in mobile communications. Its subsidiaries, operating under the Bell Mobility banner Same as banner ad. 1. banner - The title page added to printouts by most print spoolers. Typically includes user or account ID information in very large character-graphics capitals. , provide cellular, paging, data and airline passenger communications services and are involved in the sale of cellular hardware and private radio systems. BCE Mobile is a publicly traded subsidiary of BCE Inc. -0-
BCE Mobile Communications Inc.
Condensed Statements of Income
Three months Twelve months
ended Dec. 31 ended Dec. 31
($ millions)
1994 1993 1994 1993
(unaudited) (unaudited) (unaudited)
Revenues
Cellular service 130.3 103.9 484.6 386.3
Paging, data
& airline
passenger 15.5 13.8 58.2 47.0
Product sales,
private radio
& other 24.8 22.8 87.9 77.2
----- ---- ---- ----
170.6 140.5 630.7 510.5
Cost of revenue
Cellular service 17.1 19.2 74.9 71.3
Paging, data
& airline
passenger 4.4 4.2 16.4 14.8
Product sales,
private radio
& other 21.8 18.9 78.7 66.5
Depreciation &
amortization 30.7 27.6 119.5 102.7
Selling 41.5 31.9 138.0 104.0
Administrative 31.1 23.6 101.2 85.3
----- ----- ----- -----
Operating income 24.0 15.1 102.0 65.9
Interest expense (8.2) (9.0) (35.0) (35.0)
Gain (loss) on sale 15.3 (1.1) 15.3 (1.1)
Other (net) (16.7) (2.3) (16.1) (3.3)
------ ----- ------ -----
Income before income tax 14.4 2.7 66.2 26.5
Income taxes
(recovery)
- current 0.2 (2.1) 2.8 2.0
- deferred 5.2 8.7 26.8 20.9
---- ---- ----- ----
Net income (loss) 9.0 (3.9) 36.6 3.6
------ ----- ----- -----
------ ----- ----- -----
Earnings (loss) per common share $0.13 $(0.06) $0.53 $0.05 Average number of common shares (millions) 69.3 69.2 69.3 69.2
BCE Mobile Communications Inc.
Condensed Statements of Changes in Financial Position
Three months Twelve months
ended ended
Dec. 31 Dec. 31
($ millions) 1994 1993 1994 1993
(unaudited) (unaudited) (unaudited)
Operating activities
Cash flow
from
operations 44.9 38.7 183.9 134.7
Change in
working capital 1.1 (2.8) (5.4) (15.1)
Other items 0.1 (0.3) 0.3 (0.5)
----- ------ ------ ------
46.1 35.6 178.8 119.1
Financing
activities (30.5) (18.1) (72.4) 51.0
Capital
expenditures (47.2) (33.3) (123.5) (162.8)
Investments
& other 14.1 14.9 10.8 0.6
----- ----- ------ ------
Change in cash (17.5) (1.1) (6.3) 7.9
Condensed Balance Sheets
Dec. 31 Dec. 31
($ millions) 1994 1993
(unaudited)
Current assets 176.8 108.4
Fixed assets, net 640.6 647.4
Other assets 87.3 107.9
----- -----
904.7 863.7
----- -----
----- -----
Current liabilities
(excl. debt) 170.8 93.2
Debt 297.8 373.0
Other liabilities 5.2 4.1
Shareholders' equity 430.9 393.4
----- -----
904.7 863.7
CONTACT: BCE Mobile Communications Inc. John Gutpell, 514/956-4827 |
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