Earnings: Iusacell Revenues, Losses Increase

Iusacell, the second third largest telco in Mexico, reported its first quarter earnings for the three months ending March 31st. Net income increased by 9 percent to 2.05 billion pesos (US$188 million) and EBITDA increased by 31 percent to 377 million pesos, but the companies net loss increased by 142 percent to 1.238 billion pesos (US$113.4 million) because of a non-recurring item: a charge of 804 million pesos (US$73.6 million) corresponding to transmission cells being replaced by EV-DO technology. Iusacell is clawing its way out of financial trouble and will be digesting its recently agreed-upon acquisition of Unefon.

Earnings Release