PAGENET SETS RECORD FOR PAGERS-IN-SERVICE
PAGENET SETS RECORD FOR PAGERS-IN-SERVICE DALLAS, Jan. 21 /PRNewswire/ -- Paging Network, Inc. (NASDAQ: PAGE)
(PageNet) announced today that its pagers in service in 1991 increased 44 percent from 892,389 at 1990 yearend to an industry-high 1,281,643 at yearend 1991.
The company said it is continuing to experience record-setting growth and by mid-January had passed the 1,300,000 pagers-in-service mark. Since its founding in 1981, PageNet has grown to become the nation's largest paging company with service in 21 states, covering almost 50 percent of the U.S. population. It is continuing to grow aggressively by further penetration in existing geographical markets and by opening operations in additional metropolitan areas. "The company's revenue, and therefore operating cash flow, increases as more pagers are put in service," said George M. Perrin, chief executive officer. "It's the company's operating cash flow, rather than its earnings, that are generally used to assess our investment value." PageNet , which had its initial public offering in October 1991, is the nation's largest paging company and provides local, regional and nationwide paging service. -0- 1/21/92 /CONTACT: Jenny Haynes of PageNet, 214-985-6986/ (PAGE) CO: Paging Network Inc. ST: Texas IN: TLS SU: SH -- NY063 -- 1802 01/21/92 11:57 EST
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|Date:||Jan 21, 1992|
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