A handful of Sprint PCS affiliates reported quarterly results late yesterday with most posting strong revenue growth tempered by increases in net losses and slowing customer growth.
Alamosa Holdings Inc. reported an increase in total revenues from $128.4 million during the first quarter of 2002 to $141.1 million this year. Net losses also increased from $28.1 million last year, a loss of 30 cents per share, to $30.5 million during the first quarter of 2003, a loss of 33 cents per share.
Net customer additions dropped 48,000 subscribers during the first quarter of 2002 to 31,000 net customer additions this year, which was in line with the 31,000 customers Alamosa said it added during the fourth quarter of 2002. Customer churn dropped from 3.1 percent during the first quarter of 2002 to 3 percent this year along with average revenue per user, which fell from $59 last year to $55 during the first quarter of 2003.
Lake Charles, La.-based US Unwired Inc. reported similar gains in total revenues from $92.1 million during the first quarter of 2002 to $128.7 million this year. Net losses also climbed from $28.4 million last year, a loss of 33 cents per share, to $57.5 million during the first quarter of 2003, a loss of 45 cents per share.
US Unwired reported 25,623 net customer additions for its PCS operations during the first quarter of 2003 compared with 32,135 net customer additions for the first quarter of 2002. Customer churn increased from 3.4 percent last year to 3.6 percent this year, while ARPU including roaming dropped from $87.44 during the first quarter of 2002 to $68.97 this year.
Chillicothe, Ohio-based Horizon PCS Inc. reported $59.2 million in total revenues for the first quarter of 2003 compared with $48.2 million for the first quarter of 2002. Net losses also increased from $39.6 million last year, a loss of 68 cents per share, to $42.3 million this year, a loss of 72 cents per share.
Horizon noted that net customer additions dropped from 28,600 subscribers during the first quarter of 2002 to 24,000 subscribers this year. Customer churn also dropped from 3.2 percent last year to 2.9 percent this year, while ARPU including roaming dropped from $74 during the first quarter of 2002 to $68 this year.
Telecommunications provider Ntelos Inc. posted an increase in wireless revenue from $35.8 million during the first quarter of 2002 to $46.8 million this year.
The carrier also reported 13,214 net customer additions during the first quarter of 2003 compared with 4,476 net customer additions for the first three months of 2002. Customer churn dropped from 5.09 percent during the first quarter of 2002 to 3.45 percent this year, while ARPU fell from $44.77 last year to $44.62 this year.
