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Stock Market & Financial Investment News

News Breaks
February 28, 2014
07:09 EDTNIHDNII Holdings says Q4 performance negatively impacted outlook on liquidity
NII said, "The company's weaker operating performance, combined with its continued level of investment to generate growth has negatively impacted the company's outlook on the adequacy of its liquidity position for the long-term. While the company believes it has adequate funding for 2014, the company will have to significantly improve its operating performance and consider other options to enhance its liquidity position to meet its financial obligations and fund its business in 2015 and beyond. These concerns regarding the company's liquidity, in combination with the potential impact if the company cannot satisfy certain financial covenants under its existing operating company debt obligations in 2014, raise questions about the company's ability to continue as a going concern under applicable accounting literature...While we are confident that we can improve our business over the long-term, our recent disappointing results have significantly impacted our liquidity position. As a result, we have a much shorter runway to implement our operational turnaround making it even more critical for us to deliver on our business plan for 2014 if we are to be successful." Taking into consideration the company's strategy for 2014, which reflects making investments to accelerate growth while balancing its need to preserve cash, the company is providing limited guidance for the year. For 2014, the company expects to grow its subscriber base and to invest between $600M-$700M in capital expenditures. The company is not providing guidance on operating revenues, adjusted OIBDA or net subscriber additions at this time. However, considering the significant investments required to accelerate growth and acquire subscribers in 2014, the company expects its full year consolidated adjusted OIBDA to be negative.
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September 15, 2014
16:01 EDTNIHDNII Holdings files Chapter 11 proceedings
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13:47 EDTNIHDNII Holdings files for bankruptcy, Bloomberg reports
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