NII Holdings Q3 net loss increases
Nov 13, 2012 (Datamonitor via COMTEX) --
NII Holdings, Inc., a provider of wireless communication services, has reported net loss of $82.4 million for the third quarter ended September 30, 2012, compared to net loss of $300,000 for the same quarter ended September 30, 2011.
Operating revenues for the third quarter ended September 30, 2012 were $1.49 billion, compared to $1.75 billion for the same quarter ended September 30, 2011.
Net loss for the nine months ended September 30, 2012 was $172.3 million, or $1.01 loss per diluted share, compared to net income of $222 million, or $1.28 per diluted share, for the same period ended September 30, 2011.
Operating revenues for the nine months ended September 30, 2012 were $4.62 billion, compared to $5.13 billion for the same period ended September 30, 2011.
"During the third quarter, we made progress on the deployment of our 3G networks, but were disappointed with our operating results," said Steve Dussek, NII Holdings' CEO.
"Nextel Brazil's performance continued to be adversely impacted by the actions we are taking to improve the quality of our customer base. While these actions have driven an increase in churn, they are also leading to more stable ARPU and higher quality subscriber loading."
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