NII Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Asset Impairment Charges for the Second Quarter Ended June 30, 2016
August 11, 2016 at 12:00 pm
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NII Holdings Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, operating revenues were $243.1 million against $303.2 million a year ago. Operating loss was $28.8 million against $198.1 million a year ago. Loss from continuing operations before reorganization items and income tax provision was $4.2 million against $231.6 million a year ago. Net loss from continuing operations was $4.8 million against income of $1,737.8 million a year ago. Net loss was $9.9 million against income of $2,050.0 million a year ago. Net loss from continuing operations per basic and diluted common share was $0.05 against income of $10.03 per diluted share a year ago. Net loss per basic and diluted common share was $0.10 against income of $11.83 per diluted share a year ago. OBIDA was $11.9 million against loss of $124.4 million a year ago. Adjusted OBIDA was $14.4 million against loss of $94.9 million a year ago.
For six months, operating revenues were $463.7 million against $643.9 million a year ago. Operating loss was $82.8 million against $303.9 million a year ago. Loss from continuing operations before reorganization items and income tax provision was $36.6 million against $435.5 million a year ago. Net loss from continuing operations was $37.6 million against income of $1,519.4 million a year ago. Net loss was $46.5 million against income of $1,740.5 million a year ago. Net loss from continuing operations per basic and diluted common share was $0.37 against income of $8.71 per diluted share a year ago. Net loss per basic and diluted common share was $0.46 against income of $9.98 per diluted share a year ago. Net cash provided by operating activities was $8.0 million against cash used in operating activities of $254.8 million a year ago. OBIDA was $2.0 million against loss of $150.0 million a year ago. Adjusted OBIDA was $6.4 million against loss of $113.2 million a year ago.
For the quarter, the company reported asset impairment charges of $7.3 million against $25.3 million 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. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Asset Impairment Charges for the Second Quarter Ended June 30, 2016