CONSHOHOCKEN, Pa.-Sprint PCS affiliate UbiquiTel Inc. said it added 17,500 net subscribers during the third quarter compared with 13,200 net additions during the third quarter of 2003 and just edging the 16,900 subscribers the carrier added during the second quarter of this year. The carrier noted customer growth during the third quarter included 93-percent “prime” subscribers that made up 75-percent of its 383,400 total customers at the end of the quarter compared with 73 percent last year.
Wholesale subscribers, which include Sprint PCS agreements with Virgin Mobile USA L.L.C. and Qwest Communications International Inc., jumped from 8,300 customers during the third quarter of 2003 to 78,200 customers this year with wholesale minutes climbing from 3 million minutes in 2003 to 65 million minutes this year.
Customer churn dropped year-over-year from 3.4 percent during the third quarter of 2003 to 2.9 percent this year, but jumped slightly from the 2.7 percent reported during the second quarter of this year. Average revenue per user remained steady at $58.
Total revenues increased 34.3 percent year-over-year from $72.8 million during the third quarter of 2003 to $97.7 million this year and included a 64-percent increase in wholesale revenues to $29.1 million. Net income also improved from a loss of $7 million during the third quarter of 2003, a loss of 8 cents per share, to a return of $1.5 million this year, or 2 cents per share. The carrier also said it generated $9.8 million in free cash flow during the quarter compared with $1.6 million during the third quarter of 2003.
