KIRKLAND, Wash.-Nextel Partners Inc. reported it added 55,000 digital subscribers during the fourth quarter of 2000 ended Dec. 31, compared with 46,100 subscribers added during the same quarter of 1999, increasing its total customer base to 227,400 subscribers at the end of last year.
“We exceeded our expectations on all fronts,” said John Chapple, president and chief executive officer of Nextel Partners. “Over the past 12 months we increased our service area by 17 million pops in 26 markets and more than quadrupled our subscriber base.”
Along with its increased customer base, Partners reported increases in total revenue for the fourth quarter, from $12.1 million in 1999 to $53.3 million last year, and for the year, from $32.7 million in 1999 to $135.9 million in 2000.
Net loss also increased from $53.3 million during the fourth quarter of 1999 to $76.1 million for the same quarter last year, and for the year from a loss of $112.4 million during 1999 to a loss of $270.8 million in 2000. Loss per share did decrease dramatically from a loss of $17.97 per share for the fourth quarter of 1999 to a loss of 32 cents per share for the fourth quarter last year, and from a loss of $38.18 per share during 1999 to a loss of $1.33 per share in 2000.
Average revenue per user for the fourth quarter remained high at $86 including roaming, $72 without roaming, with churn at an industry low 1.6 percent.
Partner’s financial results were in line with analyst’s expectations, with the company’s loss per share coming in ahead of an expected loss of 39 cents per share due to lower-than-expected interest expenses.
