BERWYN, Pa.-Triton PCS Holdings Inc., an AT&T Wireless Services Inc. affiliate, reported higher net losses for the first quarter, despite more revenues.
Triton said it saw an increase in revenue from the first quarter last year, from $11.5 million to $62.8 million for the period ended March 31.
Even with the increased revenue, Triton reported an increase in net loss from $28.9 million during the first quarter of 1999 to $44.3 million this year. Net loss attributable to shareholders also was up, from $30.9 million to $46.7 million during the first quarter of this year.
The company attributed the increased loss to the cost of building out its network and expanding its line of services.
“Our network construction is significantly ahead of schedule and we have grown our distribution in concert with the accelerated network buildout, fueling momentum for subscriber growth and increased roaming traffic,” noted Michael Kalogris, chairman and chief executive officer of Triton PCS.
