Centennial adds subscribers but records $6.1M loss

WALL, N.J.—Centennial Communications Corp. posted a widening loss in its third quarter but reported its best prepaid wireless growth in five years. The company’s stock was up slightly on the news to around $7.16 per share.

Centennial reported a loss of $6.1 million for the quarter, way down from the $4.2 million in income it reported in the same quarter a year ago. The company blamed the loss on its “strategic alternatives and recapitalization process.”

Centennial posted revenues of $232.5 million, up 5 percent over the year-ago quarter.

In the company’s U.S. wireless operations, Centennial ended the quarter with 638,600 total subscribers. In the company’s Caribbean wireless operations, Centennial ended the quarter with 750,500 subscribers.