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WIRELESS CABLE OF ATLANTA REPORTS QUARTERLY RESULTS

 NORCROSS, Ga., Nov. 16 /PRNewswire/ -- During the month of September 1993, Wireless Cable of Atlanta, Inc., (NASDAQ: WCAI) completed a public offering of 800,000 shares of its common stock at $6.25 per share.
 A summary of operations for the quarter and nine months ended Sept. 30, 1993 and 1992 is as follows:
 Quarter ended 9/30/93 9/30/92
 Revenues $ 558,798 $ 486,619
 Direct costs 405,415 341,131
 G&A expense 156,200 145,488
 Interest, net 58,248 31,234
 Net loss $ (61,065) $ (9,143)
 Average shares 1,290,628 1,036,770
 Net loss per share $ (.05) $ (.01)
 9 mos. ended 9/30/93 9/30/92
 Revenues $1,634,767 $1,381,698
 Direct costs 1,119,639 944,077
 G&A expense 468,911 380,980
 Interest, net 102,671 75,860
 Net loss $ (56,454) $ (19,219)
 Average shares 1,144,723 1,036,770
 Net loss per share $ (.05) $ (.02)
 The number of subscribers at Sept. 30, was 6,405 as compared to 5,994 at Sept. 30, 1992, an increase of 7 percent. This, along with price increases and increased services, accounted for the increase in revenue for the quarter and nine months. Expenses were up slightly as a percent of revenue in 1993 due to more emphasis on customer service and the addition of a senior financial officer. Interest expense increased in 1993 due to a write-off of $32,000 of deferred loan costs related to the pay-off of all bank debt subsequent to the public stock offering.
 In connection with the company's public stock offering, the company issued a 10 percent Convertible Debenture in the face amount of $1 million in exchange for 142,770 shares of common stock. The debenture provided for an early redemption in the amount of $800,000 for a period of 90 days after the sale of the stock. The debenture was redeemed under the early redemption provision on Oct. 1, 1993.
 -0- 11/16/93
 /CONTACT: Rick Kendrick, chief executive officer, Wireless Cable of Atlanta, 404-449-0955, or Keith Fetter of Search Group Capital, 404-231-0088, for Wireless Cable of Atlanta/
 (WCAI)


CO: Wireless Cable of Atlanta, Inc. ST: Georgia IN: CPR SU: ERN

BR-RA -- AT005 -- 4973 11/16/93 10:22 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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