Ich hatte NIHD im Depotwettbewerb USA von der 11 bis zur 15 KW. dann leider ausgestoppt worden, zu wenig Luft zum Atmen gelassen...
Gruss E.
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NII Holdings Announces Strong Performance for the Third Quarter of 2003 - Subscriber additions of 58,800; 1.39 million total subscribers - Consolidated third quarter revenues of $246 million - Operating income before depreciation and amortization of
RESTON, Va., Oct 29, 2003 /PRNewswire-FirstCall via COMTEX/ -- NII Holdings,
Inc. (Nasdaq: NIHD) today announced its consolidated financial results for the
third quarter of 2003, including consolidated net income of $38 million, or
$1.81 per basic share, compared to a net loss of $36 million in the third
quarter of 2002. Consolidated operating revenues were $246 million, a 31%
increase over the same period last year. The Company also reported consolidated
operating income before depreciation and amortization of $66 million during the
third quarter, a 66% increase from the third quarter of 2002, and consolidated
operating income of $43 million, a 119% increase from the third quarter of 2002.
As of September 30, 2003, NII Holdings reported approximately 1.39 million
subscribers and consolidated cash balances of $410 million.
"We are continuing to execute our profitable growth strategy resulting in solid
results for the quarter," said Steve Shindler, NII Holdings' Chairman and CEO.
"We successfully launched service in Baja California, which includes
cross-border Direct Connect(R) capability between the U.S. and select regions in
Mexico. We continued to add high quality subscribers to our network across our
markets and posted operating income before depreciation and amortization of $66
million."
"As we look forward to the balance of 2003, we are maintaining our full year
guidance at $240 million in operating income before depreciation and
amortization due to the expected impact related to the recent depreciation of
the Mexican peso, the increased emphasis we're placing on growing our base of
high quality post-paid subscribers, and the increased investment we plan to make
in the fourth quarter in proven customer retention programs, including beginning
to populate our subscriber base with higher capacity 6:1 vocoder handsets. We
believe these investments will strengthen our customer base and lead to further
reductions in our churn rate as we move into 2004," Shindler added.
"Additionally, given our recent accelerated profitable subscriber growth, there
is a strong possibility that we will exceed our guidance of 180,000 net
subscriber additions for the year."
NII Holdings' average monthly revenue per subscriber (ARPU) was approximately
$55 for the third quarter compared to $48 in the same period last year. The
Company also announced its seventh consecutive quarter of churn reduction,
reporting average consolidated churn of 2.4% in the third quarter down from 2.5%
in the second quarter of 2003.
Nextel Mexico, NII's largest subsidiary, reported $56 million in third quarter
2003 operating income before depreciation and amortization and $37 million of
operating income. These amounts represent significant improvements over third
quarter 2002 operating income before depreciation and amortization of $33
million and operating income of $19 million. In addition, Nextel Mexico reported
about 35,200 net subscriber additions during the third quarter of 2003,
increasing its total subscriber base to about 615,900 handsets as of September
30, 2003. Each of NII's operating companies in Brazil, Argentina and Peru also
reported positive operating income before depreciation and amortization and were
profitable during the third quarter of 2003.
During the third quarter of 2003, NII raised about $288 million in net proceeds
through the sale of 2 million common shares and $180 million principal amount of
3.5% convertible notes due 2033. The Company used the proceeds to repay $203
million principal amount of its long-term credit facilities plus $6 million of
accrued interest at a cost of $186 million.
The Company closed on several communication tower sale-leasebacks in Mexico and
Brazil in the third quarter of 2003 under its previously announced agreement
with American Tower Corporation, raising $22 million in local currency-based
proceeds. These transactions are classified as long-term debt on the Company's
balance sheet. The Company's total long-term debt as of September 30, 2003 was
$514 million, including $87 million in tower financing obligations.
"During the quarter we successfully completed concurrent offerings of
convertible debt and equity," said Byron Siliezar, NII's Vice President and
Chief Financial Officer. "As a result of this transaction, we reduced our net
debt from $201 million at the beginning of the year to $104 million, reduced our
cost of borrowing and reduced our exposure to foreign exchange risk by repaying,
at a discount, a U.S. dollar debt obligation held by our Brazilian operating
company. We also strengthened our liquidity position to $410 million in
available cash balances. Operationally, the Company continued to deliver solid
performance in its markets, including strong growth in revenues as well as
operating income before depreciation and amortization. All of our operating
companies were profitable for the first nine months of 2003."
Consolidated capital expenditures, including capitalized interest, were $39
million during the third quarter of 2003.
In addition to the results prepared in accordance with accounting principles
generally accepted in the United States (GAAP) provided throughout this press
release, NII has presented consolidated operating income before depreciation and
amortization, ARPU and cost per gross add (CPGA), which 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 table. To view these and other reconciliations of non-GAAP
financial measures that the Company uses and information about how to access the
conference call discussing NII's third quarter results, visit the investor
relations link at
www.nii.com.About NII Holdings, Inc.
NII Holdings, Inc., a publicly held company based in Reston, Va., is a leading
provider of mobile communications for business customers in Latin America. NII
Holdings, Inc. has operations in Argentina, Brazil, Mexico and Peru, offering a
fully integrated wireless communications tool with digital cellular service,
text/numeric paging, wireless Internet access and Nextel Direct Connect(R), a
digital two-way radio feature. NII Holdings, Inc. trades on the NASDAQ market
under the symbol NIHD. Visit the Company's website at
www.nii.com.Nextel, the Nextel logo, Nextel Online, Nextel Business Networks and Nextel
Direct Connect are trademarks and/or service marks of Nextel Communications,
Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995. A number of the matters and subject areas discussed in this press release
that are not historical or current facts deal with potential future
circumstances and developments. The discussion of such matters and subject areas
is qualified by the inherent risks and uncertainties surrounding future
expectations generally, and also may materially differ from NII Holdings' actual
future experience involving any one or more of such matters and subject areas.
NII Holdings has attempted to identify, in context, certain of the factors that
it currently believes may cause actual future experience and results to differ
from NII Holdings' current expectations regarding the relevant matter or subject
area. Such risks and uncertainties include the economic conditions in our
targeted markets, performance of our technologies, timely development and
delivery of new technologies, competitive conditions, market acceptance of our
services, access to sufficient capital to meet operating and financing needs and
those that are described from time to time in NII Holdings' Annual Report on
Form 10-K for the fiscal year ended December 31, 2002 and other reports filed
from time to time 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.
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