TORONTO-Rogers Communications and its Rogers Wireless Communications subsidiary announced it expects network revenues, excluding equipment sales, of about C$1.93 billion (US$1.2 billion) to C$1.97 billion (US$1.3 billion) for Rogers Wireless in 2003.
The wireless carrier reported a 21.8-percent drop in new subscribers in 2002 to 364,000 with analysts forecasting net additions of 350,000 to 450,000. Rogers Wireless’ total number of subscribers at end-December was 3,355,800, up 12.2 percent from a year earlier.
Rogers Wireless said net additions in the fourth quarter were 146,000, down 18.5 percent from 180,200 a year earlier. Net additions of higher margin postpaid additions rose by 65.9 percent to 123,100, and the postpaid churn rate was down to 2.10 percent from 2.4 percent in the comparable 2001 period. Prepaid net additions fell 77.6 percent to 23,700, and the prepaid churn rate was 2.46, down from 1.85 percent.
For 2003, the company forecasts it will add 350,000 to 425,000 net wireless voice subscribers. Operating profit before management fees is expected to be in the C$575 million (US$368 million) to C$595 million (US$381 million) range for the year. Total capital expenditures for wireless in 2003 are expected to decline to between $400 million (US$256 million) and $425 million (US$272 million).
