Partner Communications Q3 Profit Declines Amid Revenue Drop - Quick Facts

(RTTNews) - Partner Communications (PTNR), an Israeli communications operator, Tuesday said third-quarter profit declined from the prior year, amid a drop in revenues.

Profit for the quarter decreased to 38 million New Israeli shekels from 110 million shekels in the previous year. Earnings per share dropped to 0.24 shekel from 0.71 shekel.

Revenues fell to 1.118 billion shekels from 1.315 billion shekels in the prior year.

Haim Romano,Partner's CEO, said, ''The results for the third quarter of 2013 reflect the ongoing trend of improvement that began in previous quarters, as a result, among others, of Partner's strategic decision to persevere in investing in outstanding customer service, its continuous investment in developing an advanced technological infrastructure and the adjustment of its cost structure to one appropriate for market conditions, all this despite the challenging competitive environment.''

During this quarter, the company recruited 29 thousand subscribers net to its cellular subscriber base. Average Revenue Per User or ARPU totaled 84 shekels, increasing by one shekel compared with the previous quarter, reflecting a slight softening in the price erosion of cellular services together with seasonal effects.