Cellular Communications International announces operating results for second quarter 1996.NEW YORK--(BUSINESS WIRE)--Aug. 14, 1996--CELLULAR COMMUNICATIONS INTERNATIONAL, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Nasdaq: CCIL CCIL Chester County InterLink (West Chester, Pennsylvania) CCIL Clearing Corporation of India Limited CCIL Canadian Council of Independent Laboratories ) ("CCII CCII Canadian Coalition for Influenza Immunization ") announced today its operating results for the three and six months ended June June: see month. 30, 1996. CCII's activities to date have focused on participating in strategic joint ventures with other companies to acquire and operate overseas cellular telephone systems. Currently, CCII's primary asset is its participation in Omnitel Pronto pron·to adv. Informal Without delay; quickly. [Spanish, from Latin pr mptus; see prompt. Italia ("OPI (Open Prepress Interface) An extension to PostScript that provides color separations. It was developed by Aldus Corporation, which was later acquired by Adobe. "), a
consortium which is the second GSM (Global System for Mobile Communications) A digital cellular phone technology based on TDMA that is the predominant system in Europe, but also used worldwide. Developed in the 1980s, GSM was first deployed in seven European countries in 1992. cellular telephone licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. in Italy (including San Marino San Marino, city, United States San Marino (săn mərē`nō), residential city (1990 pop. 12,959), Los Angeles co., S Calif.; inc. 1913. Of interest is the Huntington Library, Art Collections, and Botanical Gardens. and Vatican City Vatican City (văt`ĭkən), independent state (2005 est. pop. 900), 108.7 acres (44 hectares), within the city of Rome, Italy, and the residence of the pope, who is its absolute ruler. ). OPI began offering commercial service in December 1995, and in July 1996 OPI reported that it had approximately 300,000 subscribers. -0-
Three Months Ended June 30
1996 1995
(In thousands, except
per share data)
Equity in net loss of Omnitel $ 11,856 $ 1,730 General & administrative expenses 825 1,106 Write-off of deferred costs - 223 Depreciation and amortization 180 126 Operating (loss) (12,861) (3,185) Interest and other, net (4,458) (635) Net (loss) $ (17,319) $ (3,820) Net (loss) per common share $ (1.66) $ (.37) Weighted average number of shares 10,407 10,188
Six Months Ended June 30
1996 1995
(In thousands, except
per share data)
Equity in net loss of Omnitel $ 20,785 $ 3,533 General & administrative expenses 1,562 1,437 Write-off of deferred costs - 223 Depreciation and amortization 359 217 Operating (loss) (22,706) (5,430) Interest and other, net (8,533) (1,241) Net (loss) $ (31,239) $ (6,671) Net (loss) per common share $ (3.01) $ (.65) Weighted average number of shares 10,378 10,187 Discussion of Second Quarter Results
Equity in net loss of Omnitel increased to $11,856,000 from
$1,730,000 because of the increase in the net loss of Omnitel.
General and administrative expenses decreased to $825,000 from
$1,106,000 primarily because, as of December 1995, CCII no longer
participates in an entity that owns one of the two GSM cellular
licenses for Delhi, India, and CCII reduced its efforts to obtain new
cellular licenses. The 1995 amount is reduced by an expense
reimbursement of $353,000 from Omnitel for amounts previously charged
to general and administrative expenses.
In 1995, deferred costs of $223,000 were written-off in
connection with unsuccessful efforts to obtain a license in
Guatemala.
Depreciation and amortization increased to $180,000 from $129,000
as a result of the amortization of additional costs capitalized in
connection with the investment in Omnitel.
Interest and other, net decreased to expense of $4,458,000 from
expense of $635,000 primarily due to an increase in interest expense
from the issuance of the Senior Discount Notes. Interest expense in
1995 does not include interest of $1,300,000 which was capitalized
during the three months ended June 30, 1995. CCII discontinued
interest capitalization in December 1995 upon the commencement of
OPI's operations.
CONTACT: Cellular Communications International Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of William B. Ginsberg, President or Stanton N. Williams, Chief Financial Officer 212/906-8480 |
|
||||||||||||||

mptus; see prompt.
Printer friendly
Cite/link
Email
Feedback
Reader Opinion