Tricom posts loss following asset impairment charge

5 Mar 2003

Dominican Republic telecoms service provider Tricom said it posted a net loss of USD22.4 million in the fourth quarter reflecting an impairment charge of USD5.9 million, or USD62.1 million for the full year, associated with the incorporation of new standards for registering network depreciation relating to its analogue cellular and paging networks. Tricom said revenues reached USD258 million in 2002, up 5.7% on the previous year though in Q4 turnover dipped 8.2% year-on-year to USD61.2 million. EBITDA totalled USD16.3 million for the three months to 31 December and USD76.2 million for the full year.