Telecom Argentina (TEO) reported third-quarter earnings per ADS of 40 cents, falling short of the Zacks Consensus Estimate of 52 cents. However, reported net income from continuing operations grew 39% year over year to P$303 million (US$79 million), boosted by healthy growth from broadband and mobile segments.   Consolidated revenues increased 13% year over year to P$3.1 billion (US$803 million) as the company’s cellular business grew 13% while broadband business (Arnet) posted healthier annualized growth of 54%. Broadband Internet revenue growth was fueled by significant expansion of broadband service, commercial promotions, innovation of service portfolio and improved network coverage.   The company’s cellular telephony business achieved respectable growth in the quarter with revenue of P$2.1 billion (US$550 million) accounting for approximately 68% of the consolidated sales. Revenues from data transmission grew 25% year over year to P$70 million (US$18 million). Fixed-line voice service revenues increased 3.1% year over ...

French telecom giant France Telecom (FTE) has reported operating results for third-quarter 2009 with revenue falling 6.4% year over year to €12.69 billion (US$18.1 billion), primarily due to unfavorable exchange rate fluctuations (British pound versus Polish zloty) and reduced mobile termination rates (inter-operator fees). Revenue was also hurt by the recession-driven discontinuation of landline phone use by customers.       EBITDA & Margin France Telecom, which operates two of the leading telecom brands in Europe (Orange and Wanadoo), reported EBITDA of €4.6 billion (US$6.6 billion) which declined 8% from the year-ago quarter, resulting in a fall in EBITDA margin to 35.9% from 36.6%. This decline is a result of stringent price regulation and adverse currency exchange swings. Revenue by Key Markets Reported revenue in France (46% of group sales), the company’s largest market, declined 1.6% year over year to €5.9 billion (US$8.4 billion) ...

Conexant Systems Inc. (CNXT) recently announced that Oppenheimer & Co. Inc, the underwriter for its recently concluded public offering of 7,000,000 shares, exercised its option to purchase an additional 1,050,000 shares. As a result of this exercise, Conexant was able to sell a total of 8,050,000 shares at a price of $2.85 per share. After deducting the underwriting discount and estimated offering expenses, Conexant received approximately $21.2 million from the allotment of the shares. Conexant had earlier granted Oppenheimer & Co Inc a 30-day option to purchase up to 1,050,000 additional shares to cover over-allotments. Conexant intends to use the net proceeds from the offering for general corporate purposes. Management has stated that the company will use all proceeds to strengthen its balance sheet by retiring debt. Conexant had already announced plans to retire $80 million in the aggregate principal amount of floating-rate senior secured notes ...

Conexant Systems (CNXT) announced that it will offer seven million shares of its common stock in an underwritten public offering. The company also stated that it would grant Oppenheimer & Co Inc, the underwriter for the offering, a 30-day option to purchase up to 1.05 million additional shares to cover over-allotments. The company plans to use the net proceeds of the offering for general corporate purposes which include repaying, redeeming, or repurchasing existing debt, and for working capital, capital expenditures, and acquisitions. Headquartered in Newport Beach, CA, Conexant Systems designs and develops semiconductor solutions that enable consumers to access the digital world. It operates in an intensely competitive market with many rivals in and outside the United States, including Analog Devices (ADI), Broadcom Corp. (BRCM) and Texas Instruments (TXN). Last month, Conexant sold its Broadband Access product lines to Ikanos Communications Inc. for ...

Conexant Systems Inc. (CNXT) recently completed the sale of its Broadband Access product lines to Ikanos Communications Inc. for $54 million. Conexant received about $47 million in cash, while the remaining payment is subject to an escrow to be released in one year. The company expects to record a gain of approximately $35 million in the current quarter from the sale.

With the sale of its broadband access business, the company completed a major part of its restructuring and now plans to concentrate solely on providing solutions for imaging, audio, video and various embedded-modem applications.

Management said that the company will use all proceeds to strengthen its balance sheet by retiring debt. Conexant had already announced plans to retire $80 million aggregate principal amount of floating rate senior secured notes due in November 2010. It will commence a tender offer for $73 million notes and intends to buy

...

BT Group Plc (BT) announced that it will transfer its consumer & small business broadband and voice customers to Vodafone Group Plc (VOD) and will also provide wholesale network services to Vodafone over a seven-year period.

BT Group’s aim is to become the leading provider of networked IT services to mid and large-sized businesses and the public sector in general in Ireland. Vodafone will become the number-two player in the fixed broadband market and enjoy a 15% market share of the fixed broadband market. The value of the gross assets that are the subject of this transaction was 4.8 million euros at the end of March 2009.

In all its business segments, BT Group has been transforming itself from being a traditional telecom operator to a innovative provider of telecom solutions, and it is now taking advantage of future growth prospects, as it moves away from traditional businesses and into

...

Earlier today, Conexant Systems, Inc. (CNXT) announced its filing of a universal shelf registration statement with Securities and Exchange Commission (SEC). After the shelf registration statement is declared effective by the SEC, Conexant will have the option to offer and sell up to $20 million of its common stock, preferred stock, warrants, or any combination of such securities.

Conexant designs and develops semiconductor solutions that enable consumers to access the digital world. The company intends to use the net proceeds from the sale of securities for repaying, redeeming, or repurchasing existing debt. Conexant can also use these proceeds for working capital, capital expenditures and acquisitions.

The balance sheet of the company is highly leveraged. Conexant ended the second quarter with a total debt of $421.1 million against cash balance of $110.3 million. The company operates in an intensely competitive market with big players like Analog Devices (ADI), Broadcom (BRCM)

...