NII Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Updates Operational Free Cash Burn Guidance for the Full Year 2017; Announces Asset Impairment Charges for the Second Quarter Ended June 30, 2017
August 09, 2017 at 04:30 pm IST
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NII Holdings, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported operating revenues of $225.1 million against $249.2 million a year ago. Operating loss was $68.9 million against $28.8 million a year ago. Loss from continuing operations before reorganization items and income tax provision was $93.7 million against $4.2 million a year ago. Net loss from continuing operations was $87.5 million or $0.87 basic and diluted per share against $4.8 million or $0.05 basic and diluted per share a year ago. Net loss was $84.8 million or $0.85 basic and diluted per share against $9.9 million or $0.10 basic and diluted per share a year ago. Negative OIBDA was $59.6 million against OIBDA of $11.9 million a year ago. Negative adjusted OIBDA was $5.4 million against adjusted OIBDA of $14.4 million a year ago. Capital expenditures were $9 million. Net cash used in operating activities was $1 million.
For the six months, the company reported operating revenues of $476.1 million against $475.7 million a year ago. Operating loss was $148.8 million against $82.8 million a year ago. Loss from continuing operations before reorganization items and income tax provision was $186.4 million against $36.6 million a year ago. Net loss from continuing operations was $180.2 million or $1.80 basic and diluted per share against $37.6 million or $0.37 basic and diluted per share a year ago. Net loss was $177.5 million or $1.17 basic and diluted per share against $46.5 million or $0.46 basic and diluted per share a year ago. Negative OIBDA was $126.5 million against $2.0 million a year ago. Negative adjusted OIBDA was $0.3 million against adjusted OIBDA of $6.4 million a year ago. Net cash used in operating activities was $46.4 million against net cash provided by operating activities of $8.0 million a year ago.
For the quarter, the company reported asset impairment charges of $0.2 million against $7.3 million a year ago.
The company updated its guidance for operational free cash burn for the full year 2017 from a range of $200 to $250 million to a range of $150 to $200 million.
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 Second Quarter and Six Months Ended June 30, 2017; Updates Operational Free Cash Burn Guidance for the Full Year 2017; Announces Asset Impairment Charges for the Second Quarter Ended June 30, 2017