Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : American Mobile Satellite (skyc) -- Ignore unavailable to you. Want to Upgrade?

To: VALUESPEC who wrote (266)	5/19/1998 9:10:00 PM
From: VALUESPEC	Respond to of 400

Following is the old press release for the March 31, 1998 quarter. I don't think this was ever posted here: <<RESTON, Va., April 30 /PRNewswire/ -- American Mobile Satellite Corporation (Nasdaq: SKYC) announced today financial results for its first quarter ended March 31, 1998. Net service revenues for the quarter increased 52% to $6.4 million from $4.2 million for the same period in 1997. Total revenues, including equipment sales, were $10.0 million compared with $8.7 million in the first quarter of 1997. The company reported a first quarter EBITDA loss of ($8.2) million, compared to ($12.8) million in the first quarter of 1997 and a net loss of ($25.2) million, or ($1.00) per share, compared to ($27.1) million, or ($1.08) per share, in the prior year first quarter. These results do not include business generated by ARDIS Company, which was acquired by American Mobile on the final day of the quarter. "It is rewarding to see continued positive trends in our satellite communications business," said Chairman and Chief Executive Gary M. Parsons, "even as we expand our business and product portfolio with the recent acquisition of ARDIS." The merger of American Mobile and ARDIS combines the only mobile satellite communications network currently serving commercial customers in the U.S. with the nation's most comprehensive terrestrial wireless data communications network. The company completed a $335 million debt offering on March 31, 1998 to fund the cash portion of the ARDIS acquisition and growth needs of the combined company. "With new funding in place and collaboration among employees in every area of the company, the new American Mobile is building substantial momentum to carry our business forward," said newly appointed President Walter V. Purnell, who previously served as chief executive officer of ARDIS. American Mobile (www.AmMobile.com) owns and operates an integrated terrestrial/satellite network and provides a wide range of mobile communication services, including digital voice dispatch, data communications, dual-mode mobile messaging, position reporting services, and satellite telephone to the continental U.S., Alaska, Hawaii, Puerto Rico, the Virgin Islands, and hundreds of miles of U.S. coastal waters. American Mobile services are used in the transportation, field service, maritime, two-way messaging and telemetry markets. The company's major shareholders include Hughes Communications Inc., Motorola, Inc., Singapore Telecom, and AT&T Wireless Services. Factors that could cause forward-looking statements in this news release to differ materially from actual results are discussed in American Mobile Satellite Corporation's Form 10K for the year ended December 31, 1997 and other periodic filings the company has made with the Securities and Exchange Commission. Copies of the filings are available upon request from American Mobile Satellite Corporation's investor relations department. (table follows)>>