OzEmail reports operating loss, improved financials

Despite reporting revenue growth close to 85 per cent for Q4 1998, Australia's largest Internet service provider (ISP), OzEmail, has again reported an operating loss for the period.

OzEmail announced yesterday revenues for the fourth quarter 1998 were $31.6 million, 83.4 per cent higher than 1997 results for the same period. Operating loss for the quarter was around $2.6 million, compared with $8 million in 1997.

The company's successful revenues were due to increased dial-up and permanent connections from OzEmail's Internet connectivity business and Access One, Camtech and PowerUp acquisitions.

Results for the year ended December 31, 1998 also improved. Total net revenues grew by 97.6 per cent from around $55.7 million in 1997 to $110.2 million. Net loss for 1998 was $13.7 million compared with $16.7 million in 1997.

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