Partner Communications -1.1% after swing to Q4 loss

|About: Partner Communications Com... (PTNR)|By:, SA News Editor

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.

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