Extract
Canadian Corporate News Corrects Earlier Press Release.
BASINGSTOKE, United Kingdom/MONTREAL--(BUSINESS WIRE)--May 11, 1999--
Correcting...In the news release sent earlier today for "TELESYSTEM INTERNATIONAL WIRELESS INC." an error occurred in the Company Name, it should have read "DOLPHIN TELECOM PLC" . The complete and corrected version follows:CORRECTION: Dolphin Telecom Announces First Quarter 1999 Results, Equity Financing and Further Developments of its European ESMR Network DOLPHIN TELECOM(NASDAQ:TIWI) (ME:TIW.) (TSE:TIW.) HIGHLIGHTS For the first quarter ended March 31, 1999 All amounts are in US$, unless otherwise stated - Consolidated revenues increased to $22.6 million for the quarter ended March 31, 1999, from $11.9 million in the corresponding period for 1998. Operating loss before depreciation and amortization was $3.5 million for the first quarter of 1999 compared to a loss of $0.2 million for the corresponding period in 1998. Net loss for the quarter was $22.4 million compared to a loss of $6.4 million for the first quarter of 1998. The increased losses are mainly a result of the increased amortization expense related to the acquisitions made in the last year, interest on the Senior Discount Notes, the build-out of the United Kingdom and initial development of th...See the full content of this document
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