WALL, N.J.-Centennial Communications Corp. added 11,300 wireless customers in its U.S. operations during its second quarter ended Nov. 30, compared with a loss of 12,100 customers during the same quarter last year. The carrier ended the latest quarter with 513,900 U.S. wireless customers.
Centennial posted a steep decline in average revenue per user, falling from $69 to $56, which the company attributed to the reclassification of incollect cost from revenue to expense. The carrier also reported an increase in the cost of acquiring customers, rising from $286 to $346, which it attributed to adjustments excluding the cost of retention.
While total company revenues increased from $165.8 million last year to $173.3 million this year, net income fell from a return of $182.2 million last year, or $1.88 per share, to a loss of $20.3 million this year, or a loss of 21 cents per share. Centennial noted the disappointing showing was due to the divestiture of its Southwest cluster during the year and a 35 percent reduction in roaming rates.
