OKLAHOMA CITY-Dobson Communications Corp. released full quarterly results posting a slight increase in total revenues for the third quarter from $164.8 million last year to $169.1 million this year including its American Cellular Corp. holdings.
The revenue increase was driven by a nearly $11 million increase in service revenues that offset a $7 million drop in roaming revenue for the quarter, despite a 32-percent increase in roaming traffic compared with the third quarter last year. Dobson blamed the roaming revenue shortfall on the lower initial rate in its recently signed 10-year roaming agreement with Cingular Wireless L.L.C. and the scheduled step-down in the roaming rate it charges AT&T Wireless Services Inc.
Net earnings increased from a loss of $45.4 million last year, a loss of 48 cents per share, to a return of $19.4 million this year, a gain of 21 cents per share.
Dobson previously announced it added approximately 14,300 net customers during the third quarter excluding the 15,200 net customer additions from its American Cellular joint venture with AT&T Wireless. Dobson’s Cellular operations added 26,600 net customers during the third quarter last year while the American Cellular operations added 25,500 subscribers.
Postpaid customer churn for both operations was reported at 2 percent, an increase from 1.9 percent and 1.8 percent Dobson Cellular and American Cellular respectively reported for the third quarter of 2001.
