Shenandoah Telecommunications reported $3.7 million in net income for the fourth quarter, representing a 14.5% increase from the year-ago period. The wireless arm of the company, which operates as an affiliate of Sprint Nextel Corp., brought in $3.7 million in net income, the same amount the company reported overall.
The company reported 187,303 Sprint Nextel retail wireless customers at the close of the year, marking a 22% increase from 2006. Churn for the fourth quarter hit 2.3% while churn averaged out to 2% for the entire year.
The wireless division reported $17 million in net income for the year, up from $8.8 million in 2006. The company reported a total net income of $18.8 million for all operations.
Company stock was up nearly 2% to $15.39 on the news.
Shenandoah stock up on Q4 results
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