SCHAUMBURG, Ill.—IPCS Inc., a Sprint Nextel Corp. affiliate carrier, said its net loss narrowed during the third quarter.
The company registered a net loss of $6.7 million, an improvement from net loss of $16.3 million during the same period last year.
Revenues were $126.6 million for the quarter, up from $109.1 million during last year’s third quarter. Analysts had forecasted revenues of $125.4 million for the quarter.
The company said it activated a total of 61,200 customers during the quarter, up slightly from gross activations of 60,300 during last year’s third quarter. Net additions totaled 16,800, up from 17,400 during the same period last year. IPCS said it had a total of 534,300 customers at the end of the quarter.
Churn was about 2.5 percent, down from 2.7 percent during the third quarter last year.
“We are pleased with our results during the quarter, particularly in light of the environment in which we have been operating,” said Timothy Yager, president and chief executive officer of the company. “Not only is the competition intense, but the Sprint/Nextel merger and its effects have been impediments to our growth.”
The company has been engaged in legal battles with Sprint Nextel regarding overlap in several markets where both iPCS and Nextel’s wireless network operate.
