Wed, May 20, 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%.
- Press Release
Wed, May 20, 5:39 AM
Thu, May 14, 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%.
- Press Release
- Previously: Cellcom launching triple-play package in competitive Israel (May. 13 2015)
Wed, Mar. 11, 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%.
- Press release
Wed, Mar. 11, 6:04 AM
Nov. 12, 2014, 6:49 AM
Aug. 13, 2014, 6:06 AM
May 14, 2014, 6:47 AM
Mar. 10, 2014, 6:11 AM
Nov. 19, 2013, 6:29 AM
Aug. 28, 2013, 6:42 AM| Comment!
May 13, 2013, 1:32 PMIsraeli carrier Cellcom (CEL -5%) dives after missing Q1 estimates, and takes rival Partner (PTNR -4.3%) down with it. An intense price war sparked by the arrival of 6 new carriers led Q1 revenue to fall 20.6% Y/Y, and the company's subscriber base to fall 5.7% Y/Y to 3.17M. The slump has led Cellcom to suspend its dividend. It expects revenue to fall again in Q2, albeit at a "more moderate rate than experienced in previous quarters." Meanwhile, financing costs are expected to rise, thanks to high inflation. SG&A spend fell 18% Y/Y in Q1, as Cellcom continues reaping synergies from its 2011 merger with NetVision. (transcript) | Comment!
Feb. 27, 2013, 6:23 AM
PTNR vs. ETF Alternatives
Partner Communications Co Ltd is a telecommunications company. The Company provides cellular and fixed-line telecommunication services, including airtime, interconnect, roaming and ISP services that provide access to the Internet.
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