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CELLULAR COMMUNICATIONS INTERNATIONAL, INC. ANNOUNCES OPERATING RESULTS FOR THIRD QUARTER 1993

 NEW YORK, Nov. 12 /PRNewswire/ -- Cellular Communications International, Inc. (NASDAQ: CCIL) ("CCII") announced today its operating results for the three and nine months ended Sept. 30, 1993.
 CCII's activities to date have focused on acquiring ownership interests in overseas cellular telephone systems in partnership with other companies. Currently, CCII's primary assets are its investment in Omnitel, an Italian joint venture organized to apply for a cellular telephone license in Italy (including San Marino and Vatican City), if and when the Italian government makes such a license available, and its agreement to invest in Sterling Cellular Ltd., which applied for cellular telephone licenses in the cities of New Delhi, Madras, Bombay and Calcutta, India.
 CCII has received official notification that the Indian government's Department of Telecommunications ("DOT") has provisionally awarded Sterling Cellular Ltd. one of two GSM cellular licenses for the Indian city of New Delhi. A petition has been filed in India's Supreme Court moving against the new DOT decision and naming as respondents all recipients of awards for the cities of Bombay, Delhi, Calcutta and Madras.
 CELLULAR COMMUNICATIONS INTERNATIONAL, INC.
 (In thousands, except per share data)
 Three Months Ended Sept. 30, 1993 1992
 General & admin. expenses $ 204 $ 413
 Write-off of deferred costs 23 --
 Depreciation expense 2 2
 Operating (loss) (229) (415)
 Interest and dividend income 87 197
 Net (loss) $(142) $(218)
 Net (loss) per common share $(.02) $(.03)
 Weighted average shares 6,665 6,640
 Nine Months Ended Sept. 30 1993 1992
 General & Admin. expenses $ 831 $ 927
 Write-off of deferred costs 83 --
 Depreciation expense 5 4
 Operating (loss) (919) (931)
 Interest and dividend income 286 607
 Net (loss) $(633) $(324)
 Net (loss) per common share $(.10) $(.05)
 Weighted average shares 6,657 6,638
 Discussion of Third Quarter Results
 General and administrative expenses decreased from $413,000 to $204,000 because of decreases in franchise tax expense and corporate overhead expenses related to efforts to obtain ownership interests in overseas cellular telephone systems.
 The company capitalizes costs incurred in connection with potential new licenses. In 1993, $23,000 was written-off in connection with unsuccessful efforts to obtain licenses.
 Depreciation expense was $2,000 in 1993 and 1992 as a result of an increase in depreciation from 1993 purchases offset by a decrease in depreciation from equipment becoming fully deprecated.
 Interest and dividend income decreased from $197,000 to $87,000 due to lower interest rates earned on investments as a result of the mandatory redemption of the CCI preferred stock in January 1993.
 -0- 11/12 93
 /CONTACT: William B. Ginsberg, president, 212-906-8480, or Thomas Tesluk, senior vice president, 212-906-8488, both of Cellular Communications International, Inc./
 (CCII)


CO: Cellular Communications International, Inc. ST: New York IN: TLS SU: ERN

LD-LM -- NY092 -- 3952 11/12/93 18:17 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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