Leap Wireless International Inc. said it scored almost 29,000 net customer additions during the fourth quarter of 2004, bringing its total number of net additions for the year to 97,000. The carrier’s churn rate for the quarter was 4.1 percent, and its full-year churn rate was 3.9 percent.
“Our ability to meet the high end of our subscriber forecast with 97,000 net new customers provides us with a solid foundation and positive momentum as we begin 2005,” said Bill Freeman, the carrier’s chief executive officer and director. “As we move into this new year, we continue to make good progress as we execute on our strategic initiatives that are designed to strengthen the operational and financial performance of our business. We believe that 2005 will provide us with many opportunities to continue building value for the company’s stakeholders.”
Leap’s stock was up slightly to $25.85 per share following the news.
In other carrier news, Centennial Communications Corp. reported its second-quarter results. The carrier’s revenues clocked in at $214.1 million, up 12 percent from the same quarter a year ago. The carrier said its income from continuing operations stood at $18.6 million, up from the $2 million loss it reported in the same quarter a year ago.
“Centennial continues to deliver robust growth by tailoring the customer experience in each of its local markets,” said Michael Small, Centennial’s CEO. “These financial results demonstrate our ongoing ability to execute in a rapidly changing and evolving market.”
In its U.S. wireless business, the carrier reported revenues of $98 million, up 8 percent from a year ago. The carrier ended the quarter with 544,900 subscribers.
Centennial’s stock was up slightly to $7.80 after its announcement.
Finally, Alaska Communications Systems Group Inc. announced it reached the 100,000 wireless subscriber milestone last month. The carrier said its base of wireless subscribers has grown by 15 percent. The carrier’s stock was up slightly to $8.20 per share following the news.
