Excel Communications reports financial results.DALLAS--(BUSINESS WIRE)--July 23, 1996--EXCEL Communications, Inc. (NYSE NYSE See: New York Stock Exchange : ECI ECI Employment Cost Index ECI Election Commission(er) of India ECI Enterprise Content Integration ECI Early Childhood Intervention ECI Environmental Change Institute ) today reported record second quarter results. HIGHLIGHTS: o EXCEL reported record revenue for the second quarter of $345.4 million, an increase of 254 percent over the second quarter of 1995. o Net income increased to $38.4 million, a 386 percent increase over the second quarter of 1995. o Earnings per share were $.36, an increase of 350 percent over the second quarter of 1995.EXCEL added 700,000 new subscribers during the second quarter bringing its total subscriber base to just over 3.8 million, further solidifying so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. its position as a major residential long distance provider. o Long distance minutes of usage increased to 1.6 billion, a 303 percent increase over the second quarter of 1995. "We are very excited to report these record results and will continue with our commitment of providing long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. return for our shareholders. The continued growth in our subscriber base further demonstrates that we have developed a marketing plan that is very effective in reaching the mass consumer market. We are continuing to gain market share in a competitive industry and solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. our positioning as a long-term player in the communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. ," said Kenny A. Troutt, Chairman and Chief Executive Officer. "During the second quarter we continued on track with the implementation of our key business strategies. We entered into agreements with two new carriers, restructured our existing carrier agreement, finalized See finalization. our business plan to offer paging services and announced the appointment of a Managing Director of Direct Broadcast Satellite." Troutt added. Communications services revenues increased 304 percent to $271.9 million for the second quarter of 1996 from $67.3 million for the second quarter of 1995. This increase was driven by rising long distance call volume resulting from significant growth in the subscriber base. Marketing services revenues increased 141 percent to $73.4 million for the second quarter of 1996 from $30.4 million for the second quarter of 1995. This increase was due primarily to growth in applications from new Independent Representatives to 220,710 for the second quarter of 1996 from 98,450 for the second quarter of 1995. 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. increased 322 percent to $56.6 million for the second quarter of 1996 from $13.4 million for the second quarter of 1995. Operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: improved as a result of a decrease in the cost per minute of communications services. Net income increased 386 percent to $38.4 million for the second quarter of 1996 from $7.9 million for the second quarter of 1995. Net income per share increased to $ .36 for the second quarter of 1996 from $.08 for the second quarter of 1995. In June, EXCEL introduced Simply One, which allows subscribers to make interstate in·ter·state adj. Involving, existing between, or connecting two or more states. n. One of a system of highways extending between the major cities of the 48 contiguous United States. Noun 1. calls in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. for just 9" per minute, without complicated pricing based on mileage MILEAGE. A compensation allowed by law to officers, for their trouble and expenses in travelling on public business. 2. The mileage allowed to members of congress, is eight dollars for every twenty miles of estimated distance, by the most usual roads, from his or state. This rate is available for all calls made between 7 p.m. and 7 a.m. Monday through Friday and all day long on weekends and holidays. Interstate calls made during the hours of 7 a.m. and 7 p.m. will cost 25 cents per minute. EXCEL Communications Excel Communications was founded in 1988 by Dallas entrepreneur Kenny Troutt as a long distance reseller in the US telecom sector at the birth of telecom deregulation. , Inc., believes that it is the fourth largest residential long distance company in the United States. The Company offers its subscribers a variety of long distance telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. and products under the EXCEL branded name, which include residential service, commercial service, 800 service, international service, and calling cards. EXCEL focuses on maintaining and providing all services and communications that involve the subscriber. The Company's goal is to become a provider of a wide range of communications products, and the Company anticipates offering nationwide paging services to its subscribers later this year. The Company's services are marketed nationwide exclusively through a network of independent representatives. -0-
EXCEL COMMUNICATIONS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
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1996 1995 1996 1995
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Revenues:
Communications services $271,926 $ 67,302 $477,200 $118,317
Marketing services 73,439 30,417 148,955 48,141
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Total revenues 345,365 97,719 626,155 166,458
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Operating expenses:
Communication 151,421 40,087 264,935 69,453
Marketing services 93,819 29,789 170,759 51,054
General and administrative 43,483 14,453 80,424 23,763
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Total operating expenses 288,723 84,329 516,118 144,270
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Operating income 56,642 13,390 110,037 22,188
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Interest expense (79) (207) (131) (395)
Income (losses) from joint
venture 3,124 (647) 4,165 (992)
Other income 1,559 106 2,062 161
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Income before income taxes 61,246 12,642 116,133 20,962
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Provision for income
taxes 22,826 4,767 43,727 7,903
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Net income $ 38,420 $ 7,875 $ 72,406 $ 13,059
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Net income per share $ 0.36 $ 0.08 $ 0.70 $ 0.14
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Weighted average shares
outstanding 106,562 96,720 103,423 96,480
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CONTACT: Excel Communications Media: Sheila Sheila is a common given name for a female, taken from the Gaelic name Síle/Sìle, which is believed to be a Gaelic form of Julia or Cecilia. Like "Cecil" or "Cecilia", the name means "Smart and Wise", from the Latin caecus. Durante, 214/863-8400, or Mary Bell
Mary Flora Bell (born on May 26 1957 in Newcastle upon Tyne, England) was convicted in December 1968 of the murders of two boys, Martin Brown (four years old) and Brian Howe , investor relations Investor relations The process by which the corporation communicates with its investors. manager, 214/863-8730 |
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