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Helio drags Earthlink earnings down, gets more cash from SKT

Chris Ziegler

Alright, we've got good news and bad news. Which do you want first? The bad, you say? Well, it seems Helio's losses in the first quarter amounted to a $29.3 million equity loss for parent Earthlink in the same timespan, which ultimately accounts for over 97 percent of Earthlink's Q1 losses -- though in the earnings report, the company still seems pretty optimistic and committed to its MVNO lovechild with Korea's SK Telecom. Speaking of SK Telecom, the good news: Helio's other corporate parent said this week that it would be injecting additional capital to help out with marketing efforts (though would maintain the same equity balance in Helio with Earthlink that it does now). Like Earthlink, SK Telecom sounds optimistic about Helio's future, saying that despite falling short of initial expectations, ARPU (average revenue per user) and subscriber count are both looking up for 2008 and 2009. Something tells us the upcoming Ocean is going to help with those efforts significantly.

Read - Earnings release [Via mocoNews]
Read - SK Telecom's plans

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