Sprint PCS affiliate iPCS Inc., which recently emerged from Chapter 11 bankruptcy protection, said it added 7,500 customers between July 2 and Sept. 30 of this year, ending the reporting period with 240,500 total subscribers. The carrier noted it lost 3,800 subscribers during the same period last year.
Bolstering iPCS’ improvement in subscriber growth was an increase in gross subscriber additions from 19,100 customers last year to 30,300 customers this year and a drop in customer churn from 3.2 percent to 2.9 percent.
The carrier also reported that average revenue per user dropped from $54 last year to $53 this year, cash cost per user decreased from $34 last year to $31 this year, and the cost per gross addition improved from $376 last year to $368 this year.
Financially, iPCS posted $55.4 million in revenues during the reporting period and a net loss of $6 million. The carrier added that following the emergence from its reorganization process historical financial statements for periods prior to July 2 are not comparable with its most recent statements.
