PRIMUS Sees Growing Telecom Revenues

PRIMUS Telecommunications reported Q4 revenues of $339 million compared with $328 million in the prior quarter, a growth of 3.2%, and $268 million for the fourth quarter of 2002, a growth of 26.6%. Net income was $18 million, and $0.18 diluted income per common share (including $14 million of foreign currency transaction gains).


Noting its tenth anniversary in business, PRIMUS said it transforming itself from its wireline long distance voice heritage into a combined wireless/broadband/wireline bundled service provider. The company said it is now poised to launch retail enterprise, reseller and residential VOIP services in broadband markets around the world.


Separately, PRIMUS announced a "fixed to mobile" convergence strategy in Europe. The company is launching a customized GSM mobile handset featuring a hotkey that lets users connect directly to the PRIMUS international calling service from their local GSM provider. PRIMUS estimates that consumers could save up to 80% off the cost of their international calls by dialing via the PRIMUS network. The PRIMUS handset will work on any dual band GSM network with any SIM. http://www.primustel.com