CHICAGO-U.S. Cellular Corp. said it added 141,000 net customers during the fourth quarter of 2003, which was in line with analysts’ estimates but a 12-percent drop from the 160,000 subscribers the carrier added during the fourth quarter of 2002. The carrier ended the year with 4.4 million subscribers-a 7-percent increase compared with the end of 2002.
U.S. Cellular’s management noted it had seen a net gain in customers during the quarter from the implementation of local number portability and touted its 1.4-percent postpaid churn rate as proof of customer satisfaction. The carrier posted a 1.8-percent postpaid churn rate during the fourth quarter of 2002.
Average revenue per user dipped slightly from $47.91 during the fourth quarter of 2002 to $47.80 in 2003, while marketing cost per gross customer addition increased from $369 in 2002 to $384 during the fourth quarter of 2003.
Total revenues increased 10 percent year-over-year from $601.9 million during the fourth quarter of 2002 to $662.4 million in 2003, with equipment sales jumping more than 57 percent year-over-year to $41.7 million. Net income also increased more than 40 percent, from $14.6 million during the fourth quarter of 2002, a return of 17 cents per share, to $20.6 million in 2003, a return of 24 cents per share.
