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MTEL EARNS 17 CENTS PER SHARE IN THIRD QUARTER

 JACKSON, Miss., Oct. 26 /PRNewswire/ -- Mobile Telecommunication Technologies Corp. (NASDAQ: MTEL) today reported third quarter net income of $6,684,326 or 17 cents per share versus a net loss of $171,859 or 1 cent per share in the third quarter of 1992. Mtel's revenue for the third quarter of 1993 was $33,599,756 compared with $29,547,207 for the third quarter of 1992.
 Mtel's earnings reflect a non-recurring gain of $4 million or 11 cents per share from the company's previously announced sale of its interest in a nationwide paging business in Thailand in August 1993. Excluding the effect of this one-time gain, Mtel's net income for the third quarter and nine-month period was $2,635,297 or 7 cents per share, and $7,827,735 or 21 cents per share, respectively.
 "Mtel's third quarter earnings reflect the exceptionally strong unit sales of our wireless messaging services at SkyTel Corp. We have also begun to report earnings from our joint venture operations in Mexico after only a year and a half of commercial service," said J. Robert Fugate, chief financial officer of Mtel.
 Fugate added, "In the third quarter of this year, Mtel began incurring increased expenses related to the implementation of the 931.4375 MHz frequency, which SkyTel utilizes as a second channel for nationwide wireless messaging. This second common frequency has substantially increased SkyTel's capacity for enhanced wireless messaging services in the United States."
 For the nine-month period ended Sept. 30, 1993, Mtel's net income was $11,876,764 or 32 cents per share versus a net loss of $4,245,119 or 13 cents per share for the same period in 1992. Revenue for the nine-month period 1993 was $93,084,587 versus $83,805,750 for the comparable period in 1992.
 Mobile Telecommunication Technologies Corp., headquartered in Jackson, is engaged in businesses which include nationwide paging and voice messaging services in the United States provided through SkyTel Corp., the country's leading provider of nationwide wireless messaging services; international messaging services provided through Mtel International; and a proposed, advanced two-way Nationwide Wireless Network (NWN). Mtel had 318,800 units in service worldwide as of Sept. 30, 1993.
 MOBILE TELECOMMUNICATION TECHNOLOGIES CORP.
 Summary of Operations
 (Unaudited)
 Period ended Nine months Three months
 Sept. 30, 1993 1992 1993 1992
 Revenues $93,084,587 $83,805,750 $33,599,756 $29,547,207
 Net income (loss) 11,876,764(A) (4,245,119) 6,684,326(A) (171,859)
 Income (loss)
 per share $0.32(A) ($0.13) $0.17(A) ($0.01)
 Condensed Consolidated Balance Sheets
 (Unaudited)
 9/30/93 12/31/92
 Assets:
 Total current assets $64,039,376 $69,062,508
 Property and equipment, net 66,707,437 48,997,912
 Certificates of authority
 and goodwill 54,383,375 47,884,453
 Investments and other assets 17,766,089 17,521,122
 Total assets $202,896,277 $183,465,995
 Liabilities and Stockholders'
 Investment:
 Total current liabilities $18,987,032 $16,538,287
 Long-term debt 119,911 132,954
 Convertible subordinated debt 96,374,625 96,476,500
 Stockholders' investment:
 Common stock, par value $.01
 per share; 75 million shares
 authorized; shares issued:
 33,370,787 shares
 in 1992 and 34,255,659
 shares in 1993 342,565 333,707
 Additional paid-in capital 129,216,246 124,031,513
 Accumulated deficit (41,285,020) (53,161,784)
 Cumulative translation
 adjustment (859,082) (885,182)
 Total stockholders' investment 87,414,709 70,318,254
 Total liabilities and
 stockholders' investment $202,896,277 $183,465,995
 (A) -- Includes a $4.0 million or $0.11 per share non-recurring gain from the sale of an interest in a Thailand VHF paging company.
 -0- 10/26/93
 /CONTACT: David Allan or Kathleen Baum of Burson-Marsteller, 212-614-5163 or 212-614-4239/
 (MTEL)


CO: Mobile Telecommunication Technologies Corp. ST: Mississippi IN: TLS SU: ERN

GK-MP -- NY027 -- 6804 10/26/93 10:22 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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