KIRKLAND, Wash.-Nextel Partners Inc. reported $372.4 million in revenues during the fourth quarter of last year, which was in line with estimates and a 26-percent improvement compared with the $296 million in revenues the carrier posted during the fourth quarter of 2003. Nextel Partners posted the year-over-year increase despite a dip in equipment revenues from $19.4 million in 2003 to $17.6 million this year. The carrier also reported full-year revenues increased 34 percent from $1.02 billion in 2003 to $1.37 billion last year.
Net income jumped from a loss of $25 million during the fourth quarter of 2003, or a loss of 10 cents per share, to a return of $37.4 million this year, or a return of 13 cents per share. Full-year net income also improved from a loss of $207.2 million in 2003, or a loss of 82 cents per share, to a return of $58.2 million last year, or a return of 21 cents per share. Nextel Partners added that 2004 was its first full year of positive net income.
The carrier previously released select operational metrics, including 95,000 net customer additions during the fourth quarter of last year compared with 89,000 subscriber additions in 2003 and a drop in customer churn from 1.42 percent during the fourth quarter of 2003 to 1.3 percent last year.
Nextel Partners’ management also provided 2005 guidance, including 375,000 net customer additions for the year, annual churn of less than 1.6 percent, average revenue per user in the mid-$60s, and $1.57 billion in service revenues. Nextel Partners’ stock was trading up slightly early Wednesday at $19.88 per share.
