XFONE, Inc. (NYSE Amex and TASE: XFN) (“XFONE” or “the Company”) announced results for the three and nine months ended September 30, 2009.
Guy Nissenson, President and CEO, commented, “Given the challenging economic environment of the past year, we’re pleased to have maintained essentially stable revenues for the past three quarters, with sequentially improving EBITDA and operational cash flow for the nine month period of $5.1 million. Furthermore, in the third quarter, we reported over $1.1 million in operating profitability before the non-cash financing expense of $2.5 million largely related to currency fluctuation.”
Financial highlights for the three months ended September 30, 2009:
* Total revenues were $21.3 million, a decrease of 17.8% compared to $25.9 million for the three months ended September 30, 2008.
* EBITDA (earnings before interest, taxes, depreciation and amortization) was $2.3 million compared to $3.2 million for the three months ended September 30, 2008.
* Operating income was $1.1 million, compared to $1.8 million for the three months ended September 30, 2008.
* Net financing expense increased to $2.5 million, compared to $1.0 million for the three months ended September 30, 2008, primarily attributed to the effect of fluctuations in the exchange rate of the New Israeli Shekel (NIS) on the Company’s Bonds which are stated in NIS and linked to the Israeli Consumer Price Index (CPI).
* The Company reported a net loss of $1.7 million, or $0.092 per share, assuming 18,376,075 fully diluted shares outstanding at September 30, 2009, compared to net income of $0.6 million, or $0.035 per share, assuming 18,390,518 fully diluted shares outstanding at September 30, 2008.
Financial highlights for the nine months ended September 30, 2009:
* Total revenues decreased 5% to $64.2 million compared to $67.6 million for the nine months ended September 30, 2008.
* EBITDA (earnings before interest, taxes, depreciation and amortization and non-recurring loss) was $6.3 million compared to $8.0 million for the nine months ended September 30, 2008.
* Operating income was $2.7 million, compared to $4.8 million for the nine months ended September 30, 2008.
* Net financing expenses decreased to $3.7 million, compared to a net financing expense of $5.0 million for the nine months ended September 30, 2008, primarily attributed to the effect of fluctuations in the exchange rate of the New Israeli Shekel (NIS) on the Company’s Bonds which are stated in NIS and linked to the Israeli Consumer Price Index (CPI).
* The Company reported a net loss of $1.2 million, or $0.067 per share, assuming 18,376,075 fully diluted shares outstanding at September 30, 2009, compared to a net loss of $0.2 million, or $0.014 per share, assuming 17,371,811 fully diluted shares outstanding at September 30, 2008.
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