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USA Mobility, Inc. (Nasdaq: USMO), a leading provider of
wireless messaging,mobile voice and data and
unified communications solutions, today announced operating results for the second quarter ended June 30, 2012. In addition, the Company’s Board of Directors declared a quarterly dividend of $0.125 per share, payable on September 7, 2012 to stockholders of record on August 17, 2012. The Board also authorized renewal of the Company’s previously suspended stock repurchase program.
Consolidated revenue for the second quarter was $56.0 million, compared to $56.7 million in the first quarter
and $65.2 million in the second quarter of 2011. Revenue from the Company’s Wireless business (USA Mobility Wireless) was $42.8 million in the second quarter, compared to $44.3 million in the first quarter and $52.1 million in the second quarter of 2011. Second quarter revenue from the Software business (Amcom Software) was $13.2 million, compared to $12.5 million in the first quarter and $13.1 million in the year-earlier quarter.
Second quarter EBITDA (earnings before interest, taxes, depreciation, amortization and accretion) totaled $18.4 million, or 32.9 percent of revenue, compared to $18.8 million, or 33.1 percent of revenue, in the first quarter and $21.5 million, or 32.9 percent of revenue, in the year-earlier quarter. Second quarter EBITDA included $16.8 million from Wireless and $1.6 million from Software, compared to $20.4 million and $1.1 million, respectively, in the second quarter of 2011.
Net income for the second quarter was $8.4 million, or $0.37 per fully diluted share, compared to $18.6 million, or $0.82 per fully diluted share, in the second quarter of 2011. Net income in the second quarter of 2011 benefited from the receipt of $7.5 million from the sale of certain narrow band PCS licenses and a reduction in income tax expense of $4.9 million related to a reduction in our deferred income tax asset valuation allowance, partially offset by purchase accounting adjustments of $2.6 million. Excluding these adjustments, net income for the second quarter of 2011 would have been $10.0 million, or $0.44 per fully diluted share.