NII Holdings, Inc. (NIHD) saw its loss narrow to $88.50 million, or $0.88 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $91.50 million, or $0.91 a share. Revenue during the quarter went up marginally by 1.47 percent to $248.40 million from $244.80 million in the previous year period. Gross margin for the quarter expanded 860 basis points over the previous year period to 59.86 percent. Operating margin for the quarter stood at negative 23.07 percent as compared to a negative 33.54 percent for the previous year period.
Operating loss for the quarter was $57.30 million, compared with an operating loss of $82.10 million in the previous year period.
"During the year, our team in Brazil made significant progress in our efforts to turn around our business, leading to better operating trends on our 3G platform, including increasing local currency ARPU and decreasing churn," said Steve Shindler, chief executive officer. "Heading into 2017, we are focused on continuing to improve our 3G operations while managing the decline of our iDEN business. At the same time, we are actively exploring strategic options to provide sources of funding that will allow us to meet our future obligations and grow our business or find a buyer for our Company."
Debt moves up
NII Holdings, Inc. has witnessed an increase in total debt over the last one year. It stood at $756.30 million as on Dec. 31, 2016, up 13.73 percent or $91.30 million from $665 million on Dec. 31, 2015. Total debt was 53.32 percent of total assets as on Dec. 31, 2016, compared with 24.36 percent on Dec. 31, 2015. Debt to equity ratio was at 4.56 as on Dec. 31, 2016, up from 0.43 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
