SPAL.09x.11.News,Profits.(PR NEWSWIRE)Spantel Communications Reports Second Consecutive Profitable Quar
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Spantel Communications Reports Second Consecutive Profitable Quarter
FUENGIROLA, Spain, July 31 /PRNewswire-FirstCall/ -- Spantel
Communications, Inc. (OTC Bulletin Board: SPAL), a provider of
telecommunication services in Spain, reported today record financial results
for the second quarter and six months ended June 30, 2003.
Spantel Communications cited strong improvement in operating margins as it
reported its second consecutive profitable quarter. Spantel earned $319,534
(Euro 279,460), or $0.015 cents a share, for the three months ended June 30
compared to a loss of $888,847 (Euro 777,372), or $0.04 cents a share, in the
same period a year ago. Revenue for the quarter was $4,136,533 (Euro
3,617,748), from $2,812,102 (Euro 2,459,421) a year ago.
The operating margin for the second quarter was 46%, compared with 30% for
the previous year's quarter. For the six months, the operating margin
increased to 44% in 2003 from 30% in 2002. The increases reflect productivity
and efficiency improvements implemented this year along with continued
incremental margin improvement, one of Spantel's key financial objectives.
"We're extremely pleased with our results this quarter, Spantel's strong
results were marked by continued revenue and earnings growth, and margin
improvement as all areas met our expectations," said chief financial officer
Cesar Martinez. "While we are actively investing in talent and products for
current and future growth, we believe that our full-year results will easily
meet our key long-term goal of growth."
Established in 1999, Spantel Communications, Inc. is an operator providing
telecommunication services throughout Spain. The Company has had uninterrupted
growth in its year-to-year results, and has achieved profitability in less
than four years in a very competitive marketplace. The Company is
headquartered in Fuengirola, Spain employing approximately 120 people and 50
authorized distributors throughout the country. Spantel currently has over
300,000 clients in Spain and continues to keep growing with a goal of becoming
one of the major telecommunications operators in the country.
Please Note: "Safe Harbor" statement under the Private Securities
Litigation Reform Act of 1995: Statements in this press release regarding
Spantel's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion of such
risks and uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see the discussions contained in
its Annual Report on Form 10-KSB for the year-ended December 31, 2002 and its
Quarterly Report on Form 10-QSB for the quarter ended March 31, 2003 and any
subsequent SEC filings. Spantel's actual revenues are derived in Euros, but
reported in USD on all company filings. Investors should be aware that the
USD amounts reported above have been affected by the dramatic swing in the
exchange rate as the dollar is considerably weaker then it was one year ago.
The exchange rate has been determined by the average currency price as of June
30, 2003.
Contact:
Robert Carlin of Spantel Communications, Inc.
Tel: +1.804.967.9248
This release was issued through eReleases(TM). For more information,
visit ereleases.com.
SOURCE Spantel Communications, Inc.
-0- 07/31/2003
/CONTACT: Robert Carlin of Spantel Communications, +1-804-967-9248/
(SPAL)
CO: Spantel Communications, Inc.
ST: Spain
IN: CPR TLS OTC
SU: ERN
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