Mon, May 23, 1:46 PM
- In contrast to its rival Cellcom, Israel's Partner Communications (NASDAQ:PTNR) is off 4.3% in U.S. trading after releasing Q1 results where revenue fell 7% and missed expectations.
- It was the first quarter after the company parted ways with Orange and began marketing its offerings under its own Partner brand.
- Profits fell 44%, and EBITDA of 222M shekels fell 2% as well, but beat an expected 195M shekels.
- Revenue breakout: Service revenues, 710M shekels (down 6%); Equipment revenues, 267M shekels (down 9%).
- Cellular ARPU fell 3% to 67 shekels (about $18).
- Free cash flow of 114M shekels was up sharply from a year-ago 21M shekels.
- Press Release
Mon, May 23, 4:16 AM
Mon, Mar. 14, 10:14 AM
- Partner Communication (NASDAQ:PTNR) is off 1.1% after Q4 results where revenues declined across the board and it swung to a loss on a one-time charge.
- The company took a impairment charge tied to its fixed-line segment that had an impact of 98M shekels (about $25.2M) on operating profit, and NIS 72M ($18.5M) on profit.
- It posted a loss of NIS 65M; excluding the 72M effect, it earned NIS 7M, down 71% Y/Y. EBITDA fell 13% to NIS 217M.
- Revenue breakout: Service revenues, NIS 716M (down 11%); Equipment revenues, NIS 291M (down 3%).
- The company added 24,000 postpaid cellular subscribers, and lost 143,000 net prepaid subscribers. Overall cellular subscriber base fell 4% to 2.72M. Cellular ARPU dropped 6% to NIS 67.
- Conference call link
- Press Release
Mon, Mar. 14, 4:37 AM
Nov. 11, 2015, 10:07 AM
- Partner Communications (PTNR +0.1%) closed down 0.5% in Tel Aviv today after posting a net loss in Q3 on revenues that fell 9% amid "continued price erosion" in Israel's wireless market.
- The loss reflects "on the one hand, the intense competition in the cellular market over the last few years which has led to significant erosion in revenues in a relatively short period of time, and on the other hand, our limited ability to cut costs further," says CEO Isaac Benbenisti.
- Revenue by segment: Cellular, NIS821M (down 6%); Fixed-line, $237M (down 16%).
- The company's cellular subscriber base fell by about 5%, to 2.74M. Postpaid phone subscribers rose by 24,000; prepaid subscribers fell 32,000.
- Cellular average revenue per user was NIS 71 (about $18), down 7% Y/Y. Free cash flow was NIS291M (about $74M), up 160%.
- Conference call link
Nov. 11, 2015, 2:16 AM
- Partner Communication (NASDAQ:PTNR): Q3 EPS of -NIS0.06
- Revenue of NIS1B (-9.1% Y/Y)
Aug. 12, 2015, 9:58 AM
- Partner Communications (NASDAQ:PTNR) is 0.7% lower after a Q2 report where it beat expectations on top and bottom lines but pointed to an expected loss in Q3 from employee retirement plan costs and "continued intense competition."
- Profits fell 80% and the subscriber base dipped 6%, to 2.75M, at quarter's end.
- Revenue breakout: Service revenues, NIS 757M (down 12%); Equipment revenues, NIS 287M (up 28%). Of service revenues, NIS 581M were cellular segment (down 13%) and NIS 226M fixed-line (down 9%). In Equipment revenues, the vast majority (NIS 271M, up 24%) were cellular.
- In cellular, churn rate declined to 10.9%, down from the prior year's 11.4% and last quarter's 12.7%. Cellular ARPU came to NIS 70, up from Q1's 69, reflecting some seasonal roaming revenues.
- CEO Isaac Benbenisti said as part of the company's new framework with Orange, it's received an initial payment of €15M. It is conducting a market study regarding use of the Orange brand, "aimed at assessing our position within the dynamics of the Israeli telecommunications services marketplace, while examining all of the Company's options."
- The company is expecting a one-time charge of NIS 35M in Q3 related to its new labor agreements with Histadrut. The number of full-time employees is expected to drop by about 350 over the next few months.
- Conference call beginning now, at 10 a.m. ET.
Aug. 12, 2015, 4:06 AM
- Partner Communication (NASDAQ:PTNR): Q2 EPS of NIS0.06
- Revenue of NIS1.05B (-3.7% Y/Y)
May 20, 2015, 11:38 AM
- Partner Communications (NASDAQ:PTNR) is trading down 1.3% after Q1 profits fell 52% Y/Y and missed expectations.
- Total revenues declined 4% as a slide in service revenues was partly offset by higher equipment sales. Breakouts: Service revenues of NIS 759M ($191M), down 13%; Equipment revenues of NIS 295M ($74M), up 30%.
- Cost of revenues was also up 2% as gross profit fell 27%.
- Hot competition in Israel's telecom industry continues taking a toll: The company ended the quarter with 2.77M subscribers, a drop of 162K. Churn was up to 12.7% from Q4's 11.5%. Cellular ARPU was NIS 69, down 3% sequentially.
- Free cash flow fell 86% to NIS 21M (about $5M), mainly due to increased capex along with EBITDA reduction.
- Related stocks: Cellcom (NYSE:CEL) down 1.5%; Bezeq (OTCPK:BZQIY) down 0.2%.
May 20, 2015, 5:39 AM
- Partner Communication (NASDAQ:PTNR): Q1 EPS of $0.04
- Revenue of NIS1.05B (-4.5% Y/Y)
May 14, 2015, 1:23 PM
- Cellcom Israel (NYSE:CEL) is trading down 2.6% after Q1 earnings slid 77%, due in part to an extraordinary charge for voluntary retirement program.
- But even without that charge, earnings fell 55%. Net income of NIS26M (about $7M) was down from the prior NIS114M ($29M). Revenues (about U.S. $267M) dipped more than 6% Y/Y as competition in the Israel wireless market continues to run hot.
- EBITDA was NIS196M ($49M); excluding a one-time expense of NIS30M, EBITDA would be NIS226M ($57M). EBITDA margin was 18.5%, down from 30.1%.
- Revenue by segment: Service revenues, NIS800M; Equipment revenues, NIS262M.
- Cellular subscriber base was 2.885M at quarter's end.
- Free cash flow of NIS127M ($32M), down 65% Y/Y.
- Peer Partner Communications (NASDAQ:PTNR), which frequently moves in concert with Cellcom, is down 5%.
- Previously: Cellcom launching triple-play package in competitive Israel (May. 13 2015)
Mar. 11, 2015, 10:29 AM
- Israeli telecom Partner Communications (NASDAQ:PTNR) is trading down 2.8% after a Q4 report where it says that eroding profitability is likely to continue in 2015 amid a years-long price war in the market.
- Earnings per share of 0.15 shekels missed expectations of 0.22 shekels and revenues were off slightly Y/Y as an increase in equipment sales only partly made up for a slide in service revenues.
- By segment: Service revenues, NIS 808M ($208M, down 12%); Equipment revenues, NIS 300M ($77M, up 46%).
- Adjusted EBITDA of NIS 249M ($64M) met expectations.
- While equipment sales were up, profit margins on equipment were down due to chnage in product mix; "Going forward, profits from sales of equipment may continue to decrease," says CFO Ziv Leitman.
- Price competition took its toll: Cellular ARPU was NIS 71, down 6.6%. Churn for cellular subscribers was 11.5%, down from Q3's 12%.
Mar. 11, 2015, 6:04 AM
- Partner Communication (NASDAQ:PTNR): Q4 EPS of NIS0.15
- Revenue of $285M (-2% Y/Y)
Nov. 12, 2014, 6:49 AM
- Partner Communication (NASDAQ:PTNR): Q3 EPS of $0.26
- Revenue of NIS1.1B (-1.8% Y/Y)
Aug. 13, 2014, 6:06 AM
- Partner Communications (NASDAQ:PTNR): Q2 EPS of NIS0.30
- Revenue of NIS1.09B (-3.5% Y/Y)
Partner Communications Co. Ltd. engages in the provision of communication services under the Orange and 012 Smile brands. It operates through the Cellular and Fixed-line segments. The Cellular segment offers cellular communication services such as airtime calls, international call, messaging,... More
Industry: Wireless Communications
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