JACKSON, Miss.-Tritel Inc. reported operating statistics for the fourth quarter of 1999, its first quarter as a public company.
The company ended 1999 with 24,600 subscribers and reported it added another 26,750 subscribers through the first two months of 2000, bringing its total to 51,350 subscribers.
Revenues for the quarter, ended Dec. 31, 1999, were $6.5 million, with earnings before taxes, depreciation and amortization, excluding non-cash, stock-based compensation, at a loss of $29 million.
For the year, Tritel saw revenue of $6.7 million, with EBITDA showing a loss of $61.9 million.
“We anticipate strong growth in the first quarter of 2000 as we benefit from the full stream of revenue from the new service areas that came online throughout the fourth quarter,” said E.B. Martin Jr., chief financial officer of Tritel. “We have a very strategic geographic location, excellent market demographics, the requisite financial strength, the industry experience and the understanding of our local markets necessary to attract customers to our network and to achieve long-term revenue growth.”
