Centennial Communications Corp. reported 8,000 net customer additions in its North American wireless operations during its first fiscal quarter ended Aug. 30 compared with a loss of 6,300 subscribers during the first quarter of 2002. Centennial’s Caribbean wireless operations also posted a turnaround from a loss of 16,700 subscribers last year to a gain of 24,000 customers this year. The company ended the first quarter of this year with 548,900 wireless subscribers in North America and 422,600 customers in the Caribbean.
Average revenue per user remained stable in Centennial’s North American operations at $58 while its Caribbean operations posted an increase from $59 last year to $60 this year. Customer churn also improved year-over-year from 2.4 percent to 2.3 percent in North America and from 4 percent to 2.8 percent in the Caribbean.
Centennial’s consolidated revenues including its wireless and broadband operations increased from $191.9 million during its first fiscal quarter last year to $203.6 million this year. Net losses also improved from a loss of $241,000 last year to a loss of $166,000 this year, both of which resulted in no net loss per share.
Centennial also appointed Eric Weinstein vice president of strategic planning and investor relations. Weinstein previously served as senior U.S. wireless analyst at Credit Suisse First Boston Inc. and has covered the telecommunications industry for more than a decade.
