ATLANTA-Sprint PCS Network Partner AirGate PCS Inc. posted results for what company president and chief executive officer Thomas Dougherty said was “an outstanding quarter,” referring to the company’s third quarter ended June 30.
With total reported revenues of $6.5 million, AirGate posted a net loss of $25.1 million for the quarter, compared with a net loss of $6.1 million for the third quarter of 1999. AirGate did not release revenue figures for the third quarter last year.
Net losses per diluted share also increased from a loss of $1.83 per share last year, to a loss of $2.03 per share this year.
AirGate did note that its 23,482 total subscribers at the end of the third quarter had an average revenue per subscriber of $54, excluding roaming and activation fees, an increase from the $53 average for the second quarter.
In addition, the company reported churn for the third quarter was at 3 percent, with customer average minutes of use increasing from 326 minutes during the second quarter, to 363 minutes for the third quarter.
