OKLAHOMA CITY-Dobson Communications Corp. reported $138.1 million in total revenues during the first quarter of 2003 compared with $127.3 million the company reported for the first quarter of 2002.
Net income applicable to common shareholders also increased from a loss of $103.4 million last year, a loss of $1.13 per share, to a profit of $18.1 million during the first quarter of 2003, or a return of 20 cents per share. Dobson noted that 2003 net income included $3.6 million in income from discontinued operations from a pair of California markets the carrier sold to AT&T Wireless Services Inc. in exchange for a pair of licenses in Alaska.
Dobson previously reported it added 10,300 net customers during the first quarter of 2003 compared with 12,500 net customer additions for the first quarter of 2002. Postpaid customer churn dropped from 2.2 percent last to 1.6 percent this year while average revenue per user remained stable at around $42.
Dobson’s American Cellular Corp. joint venture with AT&T Wireless posted a drop in total revenues from $106.5 million during the first quarter of 2002 to $99.9 million this year.
The venture’s net customer additions dropped from 10,100 subscribers during the first quarter of last year to 1,700 customers this year. Postpaid customer churn and ARPU remained at 2 percent and $38 respectively.
