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MTEL SECOND QUARTER REVENUE AT $28 MILLION VERSUS $22 MILLION LAST YEAR

MTEL SECOND QUARTER REVENUE AT $28 MILLION VERSUS $22 MILLION LAST YEAR
 JACKSON, Miss., Aug. 7 /PRNewswire/ -- Mobile Telecommunication Technologies Corp. (NASDAQ-NMS: MTEL) today reported that, for the quarter ended June 30, 1992, the company's revenue totaled $28,179,936 compared with $21,990,152 in the second quarter of 1991, which represents a 28 percent increase in revenue.
 "Mtel's continued strong revenue growth in the second quarter was driven by SkyTel's best quarterly sales performance, which represented a significant increase over the level of net sales in recent quarters," said J. Robert Fugate, chief financial officer of Mtel.
 Net loss for the second quarter 1992 was $1,841,296 or 6 cents per share versus a net loss of $813,889 or 3 cents per share in the second quarter 1991.
 "Mtel's per share loss for the quarter is in line with the company's expectations as we continue to support Mtel's rapid growth in nationwide messaging services and move the company closer toward profitability," said Fugate.
 For the six-month period ended June 30, 1992, revenue totaled $54,258,543 versus $42,846,822 for same period in 1991 -- a 27 percent increase. Net loss for the first half of 1992 was $4,073,260 or 13 cents per share versus $2,394,554 or 8 cents per share for the first half of 1991.
 The operating results for the quarter ended June 30, 1992 include a $1,131,120 loss attributable to Mtel's share of losses incurred by American Mobile Satellite Corporation (AMSC). Mtel's share of AMSC's losses for the quarter ended June 30, 1991 was $521,924. Mtel's share of AMSC's losses for the six months ended June 30, 1992 and 1991 were $1,993,005 and $871,973, respectively.
 Mtel is currently involved in discussions concerning a restructuring of the entity through which it holds its investment in AMSC. If this restructuring is completed, Mtel would prospectively change the method of accounting for its AMSC investment from the equity method to the cost method. Under the cost method, Mtel would not record its proportionate share of AMSC's operating results.
 As of June 30, 1992, Mtel has 217,700 units in service worldwide. This figure includes 150,000 SkyPager units and 21,500 SkyTalk units in the United States, as well as 42,700 paging units in the United Kingdom and 3,300 units in Mexico.
 Mobile Telecommunication Technologies Corp. (Mtel), headquartered in Jackson, is engaged in businesses which include nationwide paging and voice messaging services (provided through SkyTel Corp.) in the United States; nationwide paging services in the United Kingdom; investments in international messaging through Mtel International; an investment in AMSC; and other operations.
 MTEL
 (Unaudited)
 Periods ended Six months Three months
 June 30 1992 1991 1992 1991
 Revenues $54,258,543 $42,846,822 $28,179,936 $21,990,152
 Net loss (4,073,260) (2,394,554) (1,841,296) (813,889)
 Loss per share (0.13) (0.08) (0.06) (0.03)
 Condensed Consolidated Balance Sheets
 Periods ended 6/30/92 12/31/91
 (Unaudited)
 Assets:
 Total current assets $76,135,091 $15,443,372
 Property and equipment, net 52,141,651 49,748,288
 Certificates of authority
 and goodwill 46,658,690 44,035,445
 Investments and other assets 12,750,334 12,228,024
 Total assets 187,685,766 121,455,129
 Liabilities and Stockholders'
 Investment:
 Total current liabilities 19,527,425 17,706,092
 Long-term debt 1,636,511 20,097,281
 Convertible subordinated
 debentures 100,933,124 14,595,853
 Stockholders' investment:
 Common stock, par value $.01
 per share; 75,000,000 shares authorized,
 shares outstanding 32,567,282 in 1992
 and 32,443,133 in 1991 325,672 324,431
 Additional paid-in capital 119,214,910 118,718,091
 Retained Earnings (54,326,269) (50,253,008)
 Cumulative translation adjustment 374,393 266,389
 Total stockholders' investment 65,588,706 69,055,903
 Total liabilities and stockholders'
 investment 187,685,766 121,455,129
 -0- 8/7/92 R
 /CONTACT: David Allan or Robert Grieves of Burson-Marsteller, 212-614-5163, or 212-614-4951, for Mtel/
 (MTEL) CO: Mobile Telecommunication Technologies Corp. ST: Mississippi IN: TLS SU: ERN


TS-LR -- NY006R -- 8015 08/07/92 12:04 EDT
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Publication:PR Newswire
Date:Aug 7, 1992
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