Printer Friendly

Telscape International announces 3rd quarter results, name change, outsourcing program and restructuring of operation.

HOUSTON--(BUSINESS WIRE)--Nov. 25, 1996--Telscape International, Inc. (formerly Polish Telephones and Microwave Corporation), NASDAQ:TSCP, today announced third quarter results.

Revenues in the third quarter of 1996 increased 422% or $1,014,834 to $1,255,059 from $240,225 in 1995. The increase results primarily due to the acquisition of Telereunion in Mexico. Results from operations for the quarter reflected a loss of $325,564 or 9 cents per share as compared to a loss of $126,768 or 6 cents per share for the third quarter of 1995. Revenue for nine months ended Sept. 30, 1996 increased 192% or $1,855,837 to $2,824,497 from $968,660 in 1995. Results from operations for the first nine months of 1996 reflected a loss of $686,692 or 24 cents per share from a loss of $361,703 or 18 cents per share in 1995.

The company announced the shareholder approval of the corporate name change to Telscape International, Inc. Scott Crist, CEO, stated, "We have created a new identity which better reflects our industry goals and direction. During the last year, Telscape has evolved from a telecommunications equipment provider into a turn-key provider of value-added telecommunications products and services. We are now primarily focused on the emerging markets of Mexico and Latin America and have plans to become a dominant niche player in the region for cross-border services between Mexico and the United States."

The company also announced the election of Manuel Landa, CEO of Telereunion, to Chairman of the Board. The remaining board members are: Scott Crist, Gary Panno, Chris Efird, Oscar Garcia, Ricardo Orea and Darryl Kirkland.

The company also noted it has signed the first agreement under its Equipment/Network Outsourcing Program with Camino Real Hotel in Tijuana, Mexico. The approximate $1 million term contract is for one of the newest and most modern business hotels in Mexico. The company indicated: "Telscape's outsourcing program is a win-win solution for both the company and the customer. The customer not only saves money on its overall telecommunications needs and lowers its internal dependence on telecom expertise, but also Telscape owns and operates the network and can use the acquired facilities to leverage its network capabilities and capacity."

Telscape also commented on its Polish operating subsidiary, DTS/ZWUT, and indicated that it has undertaken a review of its manufacturing and assembly operation. Consequently, the company has restructured the operation and eliminated 25% of its Polish workforce. The company is implementing specific sales and marketing strategies to increase product revenue and profit. Crist indicated that in the future, each operating subsidiary needs to "stand on its own and carry the responsibilities of operating as an autonomous business division under the umbrella of Telscape."

Telscape International, Inc. is a turn-key and value-added telecommunications company strategically positioned to tap the growing markets of Mexico, Latin America and the Hispanic business community in the United States. Telscape has the only currently issued permit in Mexico to provide certain value-added services to the telecom industry.

CONTACT: Telscape International, Inc., Houston

Scott Crist or Melinda Wines, 713/968-0968
COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 25, 1996
Words:516
Previous Article:Nu-Tech Bio-Med to acquire Medical Science Institute - "MSI" -.
Next Article:B.A.T. International acquires U.S. rights for innovative AC drive system.
Topics:


Related Articles
Telscape International Inc. announces year end results.
Telscape International Inc. announces record revenues and first quarter results; Settles lawsuit.
Telscape International Inc. Announces Completion of Previously Announced Acquisition of Integracion de Redes; Transaction Marks Entry Into Data...
Telscape International Inc. Announces Completion of Previously Announced Acquisition of Integracion de Redes; Transaction Marks Entry Into Data...
Telscape International, Inc. Announces Record Revenues, Profits and Earnings Per Share for the Second Quarter.
Telscape International, Inc. Announces Record Revenues, Profits and Earnings Per Share for the Third Quarter.
Telscape International, Inc. Expects to Report Record Revenues for 1997 Fourth Quarter; Company Also Anticipates Significant Profitability for...
Telscape International, Inc. Announces Record Performance for Fourth Quarter and Year Ended December 31, 1997.
Telscape International Inc. Announces Second-Quarter Results to Be Below Analysts Expectations; Telscape Continues to Make Significant Progress in...
Telscape International Inc. Restructures Convertible Debt; Reduces Risk of Dilution to Shareholders.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters