Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ) satellite broadcaster subsidiary, YES, officially known as DBS Satellite Services (1998) Ltd. today released its first quarter results as part of Bezeq's financial report. The company narrowed its net loss to NIS 1 million for the first quarter of 2009 from NIS 66 million for the corresponding quarter of 2008.
Revenue rose 0.6% to NIS 384 million for the first quarter from NIS 381 million for the corresponding quarter. Free cash flow rose nearly six-fold to NIS 29 million for the first quarter from NIS 5 million for the corresponding quarter.
YES's operating profit rose 146% to NIS 66 million for the first quarter from NIS 27 million for the corresponding quarter, and the company widened its operating profit margin to 17.2% from 7%.
YES increased the number of subscribers by 2% to 560,000 at the end of March from 549,000 a year earlier. However, monthly average revenue per user (ARPU) fell 1.3% to NIS 228 in the first quarter from NIS 231 in the corresponding quarter.
Bezeq currently owns 49.8% of YES, Eurocom Group owns 30%, Polar Communications Ltd. (TASE: PLRC) owns 7.92%, Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) owns 5.01%, and Lidan Ltd. owns 4.66%. In April, Bezeq reached an understanding with Polar Communications to buy its stake in YES.
Published by Globes [online], Israel business news - www.globes-online.com - on May 20, 2009
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