EDINBURG, Va.-Rural telecommunications provider and Sprint PCS affiliate Shenandoah Telecommunications Co. said it added 4,560 direct wireless subscribers during the fourth quarter of last year, ending 2004 with 102,600 direct customers. The company added that it also signed up 7,734 wholesale subscribers during the final three months of last year, ending the quarter with 27,300 wholesale customers on its network.
Customer churn remained steady year-over-year at 2.22 percent during the fourth quarter and 2.15 percent for the full year.
Wireless revenues increased $2.7 million during the fourth quarter from $18.5 million in 2003 to $21.2 million last year. Shenandoah noted that wireless revenues accounted for 67 percent of the company’s total revenues during the fourth quarter.
Despite the increased wireless revenues, fourth-quarter net income dropped from $1.8 million in 2003 to $200,000 last year. Shenandoah noted that 2003 net income included adjustments of prior-period estimates.
Full-year wireless revenues increased from $66.8 million in 2003 to $80.2 million last year, while full-year net income increased from $300,000 in 2003 to $2.9 million last year.
