Millicom Int'l Profit More Than Doubles

The company reported income of $112.7 million, or $1.08 per share, compared with $49.9 million, or 49 cents per share, in the year-ago period.

Revenue rose 41 percent to $768.2 million from $543.8 million in the fourth quarter of 2006.

Analysts polled by Thomson Financial, on average, estimated earnings of $1.23 per share on sales of $755.7 million.

Sales grew across all major geographic segments during the quarter, Millicom said. Revenue generated from African markets grew 57 percent to $145.2 million, while South America generated $239.3 million in revenue, a 47 percent increase over the 2006 quarter.

"The African results are particularly exciting as strong growth was experienced across all major markets," Chief Executive Marc Beuls said in a release.

In the fourth quarter, Millicom added 3.4 million mobile subscribers worldwide. Subscriber growth was driven in part by the introduction of per-second billing in February 2007, the company said. Total mobile subscribers as of Dec. 31 were about 23.4 million, a 56 percent increase over the 2006 total.

For the full year, the company reported income of $697.1 million, or $6.61 per share, compared with $168.9 million, or $1.67 per share, in 2006.

Revenue grew 67 percent to $2.63 billion from $1.58 billion in the previous year.

Shares jumped $3.23, or 3.1 percent, to $108.18 in midday trading. Shares have traded between $66 and $127.40 in the past 12 months.