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Globe's H1 profits tumble 72% on upgrade costs

2013-08-07 04:08:00| Telecompaper Headlines

(Telecompaper) Philippines communications provider Globe Telecom saw its first half profit tumble 72 percent to PHP 1.41 billion from PHP 4.96 billion in H1 2012 as the year-on-year improvement in EBITDA was not enough to cover the increase in accelerated depreciation charges related to network transformation projects. Core net income, which excludes non-recurring charges and foreign exchange and mark-to-market gains and losses, was up 13 percent year-on-year to PHP 6.4 billion. Service revenues went up 9 percent to PHP 44.5 billion from PHP 40.8 billion. Mobile revenues were PHP 35.8 billion, up 8 percent year-on-year, while broadband revenues grew 25 percent to PHP 4.11 billion. Fixed-line data revenues totalled PHP 2.02 billion, up 12 percent, but fixed-line voice revenues were PHP 1.36 billion, down 6 percent from the year-ago quarter. Globe ended the quarter with 36.1 million mobile subscribers, up 14 percent year-on-year, while the number of broadband subscribers reached 1.8 million, up 15 percent. EBITDA went up to PHP 18.9 billion from PHP 17.7 billion as the revenue gains fully covered the increase in subsidy and operating expenses. However, EBITDA margin was flat at 43 percent. Capex was 66 percent higher at PHP 19.4 billion, as Globe continues its network and IT modernisation programmes.

Tags: costs upgrade profits globes

 

IBM furloughs US employees to cut costs

2013-08-06 12:14:15| Semiconductors - Topix.net

International Business Machines Corp has said it's requiring the majority of U.S. employees in its hardware unit to take a week off with reduced pay, cutting costs as demand slows for products such as servers.

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Germany's Merck KGaA returns to profit on stronger liquid crystal sales, lower one-time costs

2013-08-06 11:41:44| Biotech - Topix.net

German drug and high-tech materials company Merck KGaA says it made net profit of 316 million euros in the second quarter, bouncing back from losses a year ago.

Tags: sales lower costs returns

 

Epiq Systems and Exterro Partner to Help Corporate Clients Reduce eDiscovery Costs and Risks

2013-08-06 06:00:00| Industrial Newsroom - All News for Today

New York, NY – Epiq Systems, Inc. (NASDAQ: EPIQ), a leading provider of managed technology for the global legal profession, and Exterro today announced that Exterro Fusion® is now being included as part of Epiq's eDiscovery strategic consulting offerings. The integration brings the full spectrum of Exterro's eDiscovery software suite to Epiq's clients on a hosted basis. The offering further positions Epiq as a leading provider of eDiscovery software and services to corporations looking ...This story is related to the following:ServicesSearch for suppliers of: Legal Services Software

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Bezeq surprises with higher profit as costs fall

2013-08-05 02:00:00| Total Telecom industry news

Israeli operator's revenue slides as competition hits mobile unit.

Tags: fall costs higher profit

 

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