ALEXANDRIA, Minn.—Rural Cellular Corp. reported $106.5 million in revenue for the fourth quarter of 2001, compared with $99.5 million during the same quarter of 2000. For the year, Rural Cellular posted $441.1 million in revenue for 2001, compared with $356 million the previous year.
Net loss applicable to common shareholders dropped from $31.6 million, or $2.68 per share, during the fourth quarter of 2000, to $22.8 million last year, or $1.92 per share. For the year, net loss rose slightly from $83.3 million, or $7.24 per share, to $87.5 million last year, or $7.38 per share.
The carrier said it added 11,744 net customers during the fourth quarter, ending the year with 661,908 wireless voice customers.
Customer churn for the quarter increased from 1.6 percent in 2000 to 2.2 percent last year, with yearly churn rising from 1.8 percent in 2000 to 2.2 percent last year. Average revenue per user including roaming fell from $59 during the fourth quarter of 2000 to $56 last year, with acquisition cost per customers dropping from $361 to $325 over the same time frame.
