14 August 12 11:10–Orange franchisee Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) reported sharply lower net profits on lower revenue for the second quarter of 2012, but will nevertheless distribute a dividend of NIS 160 million, 60% of its net profit for the first half of the year.
Revenue fell 24% to NIS 1.43 billion ($364 million) for the second quarter from NIS 1.89 billion for the corresponding quarter of 2011. Net profit fell 41% to NIS 120 million ($ 31 million (NIS 0.77 or $0.21 per share) for the second quarter from NIS 205 million for the corresponding quarter.
Equipment sales fell 59% to NIS 215 million for the second quarter from NIS 527 million for the corresponding quarter, due to lower smartphone sales and more stringent payment terms. Service revenue fell 11% to NIS 1.21 billion (including NIS 949 million mobile services revenue) from NIS 1.36 billion, due to the entry of new carriers and lower tariffs.
Mobile revenue fell 27% to NIS 1.16 billion for the second quarter from NIS 1.59 billion for the corresponding quarter, and fixed-line revenue fell 7% to NIS 308 million from NIS 332 million. Partner, including 012 Smile Telecom Ltd., lost a net 9,000 fixed-line subscribers over the preceding year to 281,000 at the end of June, and lost 23,000 ISP subscribers over the same period to 609,000…Read More>>