WEST POINT, Ga.-Personal communications services provider Powertel Inc. posted increased revenue and subscriber additions for the second quarter ended June 30, compared with the second quarter of 1999.
Total revenue rose from $63.9 million for the second quarter of 1999 to $112.1 million for the same quarter this year. PCS revenue was also up from $55.8 million during the second quarter last year to $106.2 million this year. For the first six months of the year, Powertel’s reported revenue increased from $125.9 million last year to $212.2 million this year.
Net income for the quarter dropped from a profit of $60.5 million for the second quarter last year to a loss of $47.1 million this year. Six-month net loss increased from $3.1 million in 1999 to a loss of $100 million this year.
Earnings per share followed suit, dropping from a profit of $1.22 per share for the second quarter of 1999 to a loss of $1.52 per share this year. For the first six months of the year, loss per share increased from 12 cents per share last year to a loss of $3.31 per share in 2000.
Powertel added approximately 71,000 subscribers during the second quarter, bringing its total subscriber base to about 727,000 customers. During the same period last year, Powertel added 44,000 net new subscribers.
The company also reported total PCS revenue per subscriber was down slightly from the first quarter of the year, dropping from $51.69 per subscriber to $50.69 per subscriber during the second quarter.
