FT. MYERS, Fla. June 20 /PRNewswire/ -- Palmer Wireless, Inc.
(Nasdaq: PWIR) today announced that it expects to report strong growth in
subscribers and operating cash flow for the quarter ended June 30, 1997, which
are in line with analyst expectations.
Palmer is anticipating 14,500 to 16,000 net subscriber additions for the
second quarter. Total cellular subscribers at June 30, 1997 is expected to be
between 325,000 and 327,000, a 33% to 34% increase from the second quarter of
last year. Penetration as of June 30, 1997 is expected to be approximately
8.3%, while churn for the quarter should fall to between 1.5% and 1.7%.
Palmer also expects to report operating cash flow for the second quarter in
the range of $20.5 to $21.5 million, an 18% to 24% increase over the
$17.3 million earned in the same quarter of 1996.
The Company expects to report its full second quarter results on July 28.
Palmer Wireless, headquartered in Ft. Myers, Florida, owns and operates
18 non-wireline cellular telephone systems in Florida, Alabama, Georgia, and
South Carolina covering a total estimated population of 3.9 million with over
325,000 subscribers. All of the Company's systems are North American Cellular
Network (NACN) and Cellular One Affiliates. The Company trades on the Nasdaq
Stock Market under the symbol: PWIR.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: The statements made in this press release, other than historical
financial results are forward-looking in nature. Palmer's actual results may
differ materially from those projected in this release. Primary factors that
may effect these projections include, but are not limited to: changes in the
overall economy; the number and makeup of the competitors in each of our
markets; the introduction or lack of introduction of new technology; the
ability of Palmer to secure sufficient locations to provide adequate coverage
within each of our markets; changes in law and/or regulatory policy;
agreements or lack of agreements with neighboring cellular, PCS, long distance
and/or local exchange carriers; and the mix of products and services offered
in our markets. You should evaluate any statements in light of these
important factors.
SOURCE Palmer Wireless, Inc.
 back to top
CONTACT:
Wayne Wisehart or Jeff Green, of Palmer
Wireless, 941-433-8226; or Chris Plunkett or Diana Brainerd, of
Brainerd Communicators, 212-986-6667, for Palmer Wireless
|
