LUBBOCK, Texas-Sprint PCS affiliate Alamosa Holdings Inc. reported 24,000 net subscriber additions during the second quarter, ending the period with 677,000 total subscribers. The quarterly customer growth was an improvement from the 20,000 net customers the carrier added during the second quarter of last year, but down from the 31,000 subscribers added during the first quarter of this year.
Helping customer growth during the second quarter was a reduction in customer churn from 3.2 percent last year to 2.5 percent this year. Alamosa’s management said it expects customer churn to average less than 3 percent for 2003.
Average revenue per user dropped from $59 during the second quarter of 2002 to $57 this year, which was offset by a reduction in the cost per gross customer addition from $377 last year to $375 this year.
Total revenues increased from $13.8 million during the second quarter of 2002 to $155.4 million this year while net losses dropped from $28.7 million last year, or 31 cents per share, to $18.7 million this year, a loss of 20 cents per share.
Alamosa added that it expects to be free cash flow positive for the full year excluding cash interest to be paid out of escrow, and revised its full-year earnings before interest, taxes, depreciation and amortization forecast from $80 million to $90 million.
