NII Holdings Inc (OTCMKTS:NIHDQ) has decided to announce the consolidated financial results for 4Q2014 and complete year. Overall, 4Q2014 proved to be a good year for the company as it not only managed to post decent financial figures, but also added a significant number of new customers.
Insights On The Matter:
No matter if it’s a small company or an industrial leader, addition of new customers always makes them feel on top of the world. In the case of NII Holdings, total number of subscribers that it managed to add in the previous quarter was 129,000. With this milestone, NII Holdings set a new record of registering continuous growth in terms of customer addition since the second quarter of 2013. It performed not so well during 4Q2014 in terms of financial performance.
As per the reports, NII Holdings managed to post operating revenues worth $854 million. The consolidated adjusted OIBDA loss for the company during the previous quarter was $83 million. It also reported consolidated operating loss of $336 million in 4Q2014. There were various cases when it had to spent capital for business development and other purposes. All these activities incurred total capital expenditures of $132 million during the fourth quarter of 2014.
If the entire 2014 taken into consideration, NII Holdings lost 61,000 subscribers, which brought down its customer base to 9.2 million subscribers. Total operating revenues for the previous year were $3.7 billion. It suffered operating loss of $1.11 billion and OIBDA loss of $251 million in the previous year. Overall, capital expenditures for 2014 were $428 million.
Management of the company expected the conditions to improve in the near future. Steve Shindler, CEO, NII Holdings Inc (OTCMKTS:NIHDQ) said that market conditions were not supportive for company’s proceedings throughout 2014, but still it started to show improvements in 4Q2014. He expected that 2015 would prove to be a better year for the company in terms of revenues and subscriber addition.