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News >> Technology >>
Primus posts $261 M net revenue
By siliconindia
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Friday, 08 November 2002, 20:30 IST
BANGALORE: Primus Telecommunications Group, Incorporated has posted a net revenue of $261 million for the quarter ended September 30, 2002.
Primus net revenue in the third quarter of 2002 was $261 million, compared to $251 million in the second quarter of 2002 and $272 million in the third quarter of 2001.
"Organic growth in our retail units as well as our carrier division contributed to the overall increase in revenue," said Neil L.Hazard, executive vice president and chief operating and financial officer of Primus. "The overall revenue growth was achieved through a combination of an increase in the volume of minutes, growth of our customer base to 2.8 million, and relatively stable pricing. We expect future revenue growth as a result of our recent acquisition of the United States retail customer base of Cable & Wireless, which is expected to be realized beginning in the first quarter of 2003."
Geographically, all three Primus regions reported an increase in revenue in the third quarter of 2002. Net revenue for the third quarter was derived geographically as follows: 37% from North America, 36 percent from Europe, and 27 percent from Asia-Pacific. Net revenue by customer type was 76 percent retail (27 percent business and 49 percent residential) and 24 percent carrier. Data/Internet and VoIP services revenues grew to $44 million and represented 17 percent of total revenue in the third quarter, compared to $40 million and 15 percent in the same period last year. Voice revenues accounted for 83 percent of revenue in the third quarter, which is a decrease from 85 percent in the year ago quarter.