Top-News
Donnerstag,
09.11.2017 13:05
von
PR Newswire
| Aufrufe: 227
NII Holdings Reports 2017 Third Quarter Results
Zwei Frauen beim Shopping (Symbolbild).
© filadendron / E+ / Getty Images
PR Newswire
RESTON, Va., Nov. 9, 2017
RESTON, Va., Nov. 9, 2017 /PRNewswire/ --
- Operating revenues of $205 million for the third quarter
- Operating loss of $83 million for the third quarter
- Third quarter results include $39 million of non-cash asset impairment and restructuring charges
- Adjusted operating loss before depreciation and amortization (adjusted OIBDA loss) of $37 million for the third quarter
- Quarter-end unrestricted cash and short-term investments of $260 million and $110 million of cash held in escrow
- Ended third quarter 2017 with 2.85 million 3G/4G subscribers, a 4% increase year-over-year
NII Holdings, Inc. (NASDAQ: NIHD) today announced its financial results for the third quarter of 2017. For the quarter, the Company generated consolidated operating revenues of $205 million, a consolidated operating loss of $83 million and consolidated adjusted OIBDA loss of $37 million. The Company's consolidated adjusted OIBDA excludes the impact of non-cash asset impairments, restructuring charges and other unusual items. Capital expenditures were $12 million for the quarter. The Company reported 32,000 3G/4G net subscriber losses in the quarter and 100,000 subscriber losses on the Company's iDEN network. It ended the third quarter with 2.85 million 3G/4G subscribers and 450,000 iDEN subscribers.
"Our results this quarter were impacted by continued pressure on our revenues from both competitive forces and the wind down of our iDEN business," said Roberto Rittes, Nextel Brazil's Chief Executive Officer. "We have launched new commercial offers that positively impacted our gross adds for the quarter and are taking actions that we believe will improve our cost structure, limit spending and reduce churn."
Nextel Brazil's average monthly service revenue per subscriber (ARPU) for the third quarter of 2017 was $19, a 10% decrease on a reported basis, and a 12% decrease on a constant currency basis, compared to the same quarter last year. Nextel Brazil's average monthly churn rate for the third quarter of 2017 was 4.47%, a 48 basis point increase compared to the same quarter last year. Nextel Brazil's cost per gross addition (CPGA) was $100 for the third quarter of 2017, a $7 increase on a reported basis, and a 5% increase on a constant currency basis, compared to the same quarter last year. Nextel Brazil's cash cost per user (CCPU) was $20 for the third quarter of 2017, an 11% increase on a reported basis, and an 8% increase on a constant currency basis, compared to the same quarter last year.
At quarter-end, the Company's sources of funding totaled $422 million, including $260 million of unrestricted cash and short-term investments, $110 million of cash held in escrow to secure indemnification obligations in connection with the sale of Nextel Mexico and $52 million in cash pledged as collateral to secure certain performance bonds in Brazil.
"Despite the OIBDA loss reported this quarter, we managed to limit operational free cash flow burn," said Dan Freiman, Chief Financial Officer of NII Holdings. "With the signing of amendments to our loan agreements in Brazil behind us, we are focused on executing on our business plan and putting Nextel Brazil back on a growth path."
On November 7, 2017, ice group, formerly AINMT, requested an extension of time to exercise its option to invest an additional $150 million in Nextel Holdings, the Company's newly formed subsidiary that indirectly owns Nextel Brazil. The Company is currently discussing the terms of an extension of the option with ice group.
Additional details regarding the Company's results, including a more detailed explanation on local currency operating metrics, are included in the Company's Quarterly Report on Form 10-Q for the three months ended September 30, 2017 that was filed with the Securities and Exchange Commission today. Additional operational and financial details, including a quarterly earnings presentation, are also available under the Company's Investor Relations link at www.nii.com.
In addition to the financial results prepared in accordance with accounting principles generally accepted in the United States (GAAP) provided throughout this press release and in the attached financial tables, NII Holdings has presented consolidated adjusted OIBDA, as well as Nextel Brazil's ARPU, CCPU, and CPGA. These measures are non-GAAP financial measures and should be considered in addition to, but not as substitutes for, the information prepared in accordance with GAAP. Reconciliations from GAAP results to these non-GAAP financial measures are provided in the notes to the attached financial tables. To view these and other reconciliations of non-GAAP financial measures that the Company uses, visit the investor relations link at www.nii.com.
About NII Holdings, Inc.
NII Holdings, Inc., a publicly held company based in Reston, Virginia, is a provider of differentiated mobile communication services for businesses and high value consumers in Brazil. NII Holdings, operating under the Nextel brand, offers fully integrated wireless communication tools with digital cellular voice services, data services and wireless Internet access. Visit the Company's website at www.nii.com.
Nextel, the Nextel logo and Nextel Direct Connect are trademarks and/or service marks of Nextel Communications, Inc.
Visit NII Holdings' news room for news and to access our markets' news centers: nii.com/newsroom.
Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. This news release includes "forward-looking statements" within the meaning of the securities laws. The statements in this news release regarding the business and economic outlook, future performance, final approval and effectiveness of amendments to loan agreements, the completion of ice group's second investment, which is at ice group's sole discretion, and guidance, as well as other statements that are not historical facts, are forward-looking statements. Forward-looking statements are estimates and projections reflecting management's judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. With respect to these forward-looking statements, management has made assumptions regarding, among other things, the receipt of approval of amendments by China's export and credit insurance corporation, ice group's decision to exercise its investment option, the Company's ability to fund the business and meet its business plans, customer growth and retention, pricing, network usage, operating costs, the timing of various events, the economic and regulatory environment and the foreign currency exchange rates that will prevail during the remainder of 2017. Future performance cannot be assured and actual results may differ materially from those in the forward-looking statements. Some factors that could cause actual results to differ include the risks and uncertainties relating to: the impact of liquidity constraints, including the inability to access escrowed and pledged funds when expected, our ability to finalize the executed amendments to our financing arrangements, a decision by ice group not to exercise its option, failing to meet the closing conditions necessary to complete ice group's investment, the impact of more intense competitive conditions and changes in economic conditions in Brazil, the performance of the Company's networks, the Company's ability to provide services that customers want or need, the ability of the Company to continue as a going concern, the Company's ability to execute its business plan, and the additional risks and uncertainties that are described in NII Holdings' Annual Report on Form 10-K for the year ended December 31, 2016 and the Quarterly Report on Form 10-Q for the period ended June 30, 2017, as well as in other reports filed from time to time by NII Holdings with the Securities and Exchange Commission. This press release speaks only as of its date, and NII Holdings disclaims any duty to update the information herein.
| NII HOLDINGS, INC. AND SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2017 AND 2016 | |||||||||||||||
| (in millions, except per share amounts) | |||||||||||||||
| | |||||||||||||||
| | Three Months Ended | | Nine Months Ended | ||||||||||||
| | 2017 | | 2016 | | 2017 | | 2016 | ||||||||
| | (unaudited) | ||||||||||||||
| | | | | | | | | ||||||||
| Operating revenues Service and other revenues | $ | 200.3 | | | $ | 255.7 | | | $ | 663.8 | | | $ | 719.4 | |
| Handset and accessory revenues | 4.5 | | | 5.1 | | | 17.1 | | | 17.2 | | ||||
| | 204.8 | | | 260.8 | | | 680.9 | | | 736.6 | | ||||
| Operating expenses Cost of service (exclusive of depreciation and amortization included below) | 94.0 | | | 96.5 | | | 284.6 | | | 268.5 | | ||||
| Cost of handsets and accessories | 8.7 | | | 5.8 | | | 30.4 | | | 25.8 | | ||||
| Selling, general and administrative | 139.0 | | | 142.8 | | | 403.1 | | | 412.1 | | ||||
| Impairment, restructuring and other charges | 39.2 | | | 1,324.2 | | | 165.3 | | | 1,340.7 | | ||||
| Depreciation | 3.6 | | | 66.3 | | | 18.2 | | | 126.1 | | ||||
| Amortization | 3.7 | | | 11.9 | | | 11.5 | | | 32.9 | | ||||
| | 288.2 | | | 1,647.5 | | | 913.1 | | | 2,206.1 | | ||||
| Operating loss | (83.4) | | | (1,386.7) | | | (232.2) | | | (1,469.5) | | ||||
| Other (expense) income Interest expense, net | (33.3) | | | (29.5) | | | (91.2) | | | (81.9) | | ||||
| Interest income | 19.0 | | | 9.2 Werbung Mehr Nachrichten zur NII Holdings Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News | |||||||||||
