NII Holdings Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Announces Asset Impairment Charges for the First Quarter Ended March 31, 2017
May 10, 2017 at 04:30 pm IST
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NII Holdings Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported operating revenues of $243.5 million compared with $220.6 million for the same period a year ago. Operating loss was $79.8 million compared with $54.1 million for the same period a year ago. Loss from continuing operations before reorganization items and income tax was $92.7 million compared with $32.4 million for the same period a year ago. Net loss from continuing operations was $92.7 million or $0.92 per basic and diluted share compared with $32.8 million or $0.33 per basic and diluted share for the same period a year ago. Net loss was $92.7 million or $0.92 per basic and diluted share compared with $36.6 million or $0.37 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $45.3 million compared with $18.2 million for the same period a year ago. Adjusted OIBDA was $5.1 million compared with loss of $8.1 million for the same period a year ago.
For the quarter, the company reported asset impairment charges of $68.3 million compared with $1.0 million for the same period a year ago.
NII Holdings Inc is a United States-based company. The Company provided wireless communication services under the Nextel brand in Latin America. The Company has no active operations and intends to dissolve.
NII Holdings Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Announces Asset Impairment Charges for the First Quarter Ended March 31, 2017