Rural operator Dobson Communications Corp. reported complete fourth-quarter and full-year 2004 results Thursday that included improved revenues and mixed net income results.
During the fourth quarter Dobson said revenues increased nearly 6 percent from $250.3 million in 2003 to $264.9 million last year. Full-year revenues jumped 39 percent from $735.8 million in 2003 to $1 billion last year.
Fourth-quarter net losses decreased from a loss of $70.3 million in 2003, or a loss of 53 cents per share, to a loss of $13.9 million last year, or a loss of 10 cents per share. Full-year net income dropped from a return of $151 million in 2003, or $1.38 per share, to a loss of $59.8 million last year, or a loss of 45 cents per share. Dobson noted that 2003 results included a $218 million gain on the redemption and repurchase of preferred stock.
Dobson previously reported subscriber results that included the loss of 25,600 customers during the fourth quarter of 2004 compared with a gain of 14,400 subscribers in 2003. The decline was attributed to a drop in gross subscriber additions and an increase in customer churn.
