Axesstel Inc. (fka AXST)

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Axesstel reports Q1 net income
4 hours 2 minutes ago - Datamonitor via Comtex
Axesstel Inc, a provider of fixed wireless voice and broadband services, has reported that group net income for the first quarter ended March 31, 2012 was $472,268, or $0.02 per share, compared to a net loss of $538,753, or $0.02 loss per share, for the first quarter ended March 31, 2011.

Revenues for the first quarter ended March 31, 2012 were $12.03 million, compared to $12.64 million for the first quarter ended March 31, 2011.

Operating income for the first quarter ended March 31, 2012 were $860,919, compared to an operating loss of $209,802 for the first quarter ended March 31, 2011.

"The first quarter of 2012 marks our third consecutive quarter of profitability since completing the transition of our business in mid-2011," said Clark Hickock, CEO of Axesstel.

"The results of that transition were evident this quarter with a swing in profitability of more than $1.0 million compared to the same period last year, despite slightly lower revenues."