Unwired cashed up and ready to expand

Stuart Corner
Friday, 27 January 2006 06:39

IT Industry - Strategy

Unwired  has reported an increase in revenue of 14 percent for the quarter ended 31 December, compared to the prior quarter and says its net operating cash outflow has halved, to $2.10 million.

In addition is spent $815,000 expanding its Sydney network and $520,000 on expanding its network outside Sydney in an area to be revealed in the near future.

Unwired now has a cash balance of $9.4 million, thanks to Intel's $37 million investment and after paying $15 million to Austar for spectrum.

The company reduced its marketing spend during the quarter but says it is now ramping up in preparation for renewed TV, radio and print advertising in February.