NII Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Updates Capital Expenditures Guidance for the Year 2018; Provides Earnings Guidance for the Second Half 2018
August 07, 2018 at 07:00 am EDT
Share
NII Holdings, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported operating revenues of $150.8 million against $220.1 million a year ago. Operating loss was $19.8 million against $68.9 million a year ago. Loss from continuing operations before income tax benefit was $96.2 million against $93.3 million a year ago. Net loss from continuing operations was $96.2 million or $0.96 per basic and diluted share against $87.5 million or $0.87 per basic and diluted share a year ago. Net loss attributable to the company was $71.1 million or $0.99 per basic and diluted share against $84.8 million or $0.85 per basic and diluted share a year ago. Negative OIBDA was $11.9 million against OIBDA of $59.6 million a year ago. Negative adjusted OIBDA was $0.2 million against $5.4 million a year ago. The company's consolidated adjusted OIBDA excludes the impact of non-cash asset impairments and restructuring charges. Capital expenditures were $15 million for the quarter.
For the six months, the company reported operating revenues of $326.8 million against $463.6 million a year ago. Operating loss was $34.3 million against $148.8 million a year ago. Loss from continuing operations before income tax benefit was $139.4 million against $186.0 million a year ago. Net loss from continuing operations was $139.4 million or $1.39 per basic and diluted share against $180.2 million or $1.80 per basic and diluted share a year ago. Net loss attributable to the company was $102.8 million or $1.42 per basic and diluted share against $177.5 million or $1.77 per basic and diluted share a year ago. Negative OIBDA was $18.0 million against $126.5 million a year ago. Negative adjusted OIBDA was $8.1 million against $0.3 million a year ago. Net cash used in operating activities was $87.0 million against $46.4 million a year ago.
The company updated its guidance for 2018 as: the company continues to expect 3G/4G net subscriber additions of 300,000 or more for the full year; and the company continues to expect a similar level of capital expenditures for the full year as the amount reported in 2017.
The company expects churn of 2.75% or lower for the second half of 2018; the company expects that consolidated adjusted OIBDA will be positive for the second half of 2018; and the company expects cash burn for the second half of 2018 will not exceed $100 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, 2018; Updates Capital Expenditures Guidance for the Year 2018; Provides Earnings Guidance for the Second Half 2018