Pointe Communications Corporation Reports Third Quarter 1998 Results
ATLANTA, Oct. 20 /PRNewswire/ -- Pointe Communications Corporations (OTC Bulletin Board: PCOM - news), a domestic and international competitive local exchange carrier, and a provider of satellite, Internet and telecommunications throughout the Americas today reported results for the third quarter of 1998. Revenues grew for the quarter ending September 30, 1998 to $9,008,987 from $3,197,172 for the same period last year an increase of $5,811,815 or approximately 182% and by approximately 71% or $3,733,603 from the second quarter of 1998. . . Net loss for the quarter was $1,835,418 or (.04) per share compared to $1,405,000 loss or (.04) per share for the same period a year ago. . . PointeCom Chairman and CEO Stephen E. Raville said, ''The Company continues to show improved cash flows, and achieved break even EBITDA from operations in September. We are particularly excited about the revenue growth for the quarter, and as we trim overhead and deploy new networks, we will be taking costs out of the business and should substantially improve our margins. PointeCom's CLEC plans and the buildout of Latin American facilities are on track, and we are striving to reach profitability in the near future.''
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