KUALA LUMPUR: GREEN PACKET BHD [] posted net loss of RM77.68 million in the fourth quarter ended Dec 31, 2010, which was lower compared with the RM100.71 million a year ago.
It said on Wednesday, Feb 16 revenue rose 58% to RM116.25 million from RM73.54 million, loss per share was 11.8 sen compared with 15.3 sen. However, the loss from continuing operations were RM100.11 million compared with RM103.82 million a year ago.
For FY10, it managed to reduce its net loss to RM134.97 million from RM182.64 million in FY09, while revenue increased 80.8% to RM393.97 million from RM217.81 million. Loss from continuing operations increased to RM209.67 million from RM187.41 million in FY09.
Total group accumulated losses increased to RM274.67 million as at Dec 31, 2010 from RM196.53 million as at Sept 30, 2010.
'The revenue for 4Q10 has increased substantially from the previous quarter mainly due to higher subscriber base for the wireless broadband business and securing of new customers for the solution business.
'However, the 4Q10 loss after tax was higher than 3Q10 mainly attributed to higher provision for impairment of investments and assets of RM44.9 million and higher share of losses of associated company of RM17.3 million, which is also mainly due to impairment of investments and assets at associated company books,' it said.
Green Packet said with its stronger broadband base which had surpassed its 2010 subscriber target of 280,000 and the company's recent success in penetrating the U.S. market for connection management solutions, it expected the group to record better performance for the new financial year ending Dec 31, 2011.
It said on Wednesday, Feb 16 revenue rose 58% to RM116.25 million from RM73.54 million, loss per share was 11.8 sen compared with 15.3 sen. However, the loss from continuing operations were RM100.11 million compared with RM103.82 million a year ago.
For FY10, it managed to reduce its net loss to RM134.97 million from RM182.64 million in FY09, while revenue increased 80.8% to RM393.97 million from RM217.81 million. Loss from continuing operations increased to RM209.67 million from RM187.41 million in FY09.
Total group accumulated losses increased to RM274.67 million as at Dec 31, 2010 from RM196.53 million as at Sept 30, 2010.
'The revenue for 4Q10 has increased substantially from the previous quarter mainly due to higher subscriber base for the wireless broadband business and securing of new customers for the solution business.
'However, the 4Q10 loss after tax was higher than 3Q10 mainly attributed to higher provision for impairment of investments and assets of RM44.9 million and higher share of losses of associated company of RM17.3 million, which is also mainly due to impairment of investments and assets at associated company books,' it said.
Green Packet said with its stronger broadband base which had surpassed its 2010 subscriber target of 280,000 and the company's recent success in penetrating the U.S. market for connection management solutions, it expected the group to record better performance for the new financial year ending Dec 31, 2011.
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