EDINBURG, Va.-Rural telecommunications provider and Sprint Corp. wireless affiliate Shenandoah Telecommunications Co. said it added 4,300 retail and 4,100 wholesale wireless subscribers during the first quarter of this year, ending the quarter with 107,000 retail and 31,500 wholesale subscribers. The company’s retail subscriber growth was down slightly compared with the 4,500 customers it added during the first quarter of 2004, while the wholesale growth increased from the 3,500 customers the carrier added during the first three months of last year.
Shenandoah also reported that retail customer churn improved from 2.2 percent during the first quarter of 2004 to 2.05 percent this year.
Wireless revenues increased 20 percent from $18.1 million during the first quarter of 2004 to $21.8 million this year and accounted for 63 percent of the company’s $34.4 million in total revenues during the first quarter. Wireless net income jumped 80 percent from $500,000 during the first quarter of 2004 to $900,000 this year and accounted for 38 percent of Shenandoah’s $2.4 million in total net income.
