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Hungarian Telephone and Cable Announces Net Income of $17.7 Million for 2006 |
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"Hungarian Telephone and Cable Corp.announced results for the fourth quarter and twelve months ended December 31, 2006. Net income for the year came in at $17.7 million or $1.24 per share (diluted) for the year, versus $2.8 million, or $0.20 per share (diluted), for 2005. Note that the Company has restated certain amounts due to two presentation reclassifications which do not affect net income or net income per share.The revenues have been restated and presented as gross, less cost of sales. Gross Margin previously reported as "Telephone services revenues, net", is unchanged. A Hungarian local business tax has been restated and included in income tax instead of selling, general and administrative expenses.@
Source: home.businesswire.com
20.03.2007
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