Partner Communications Q1 Profit, Revenue Drop - Quick Facts

(RTTNews) - Partner Communications Co. Ltd. (PTNR) Wednesday said its profit for the first quarter declined 52 percent to NIS 25 million or $6 million from NIS52 million last year.

Basic earnings per share were NIS0.16, compared to NIS0.33 in the previous year.

Total revenues decreased 4 percent to NIS 1.054 billion or $265 million from NIS1.103 billion in the prior year.

Cellular Average Revenue Per User or ARPU decreased 10 percent year-over-year to NIS69.

Haim Romano, CEO, said, "The results of the first quarter reflect the continued intense competition in the telecommunications market in Israel, particularly in the cellular market, which brought about the continued erosion in service revenues and profitability. At the same time, the Company is working to create additional sources of revenue and profit, including growth in revenues from equipment sales, which increased 30% compared to the parallel quarter last year."