BERWYN, Pa.-Triton PCS Holdings Inc. reported a 12.8-percent increase in total revenues, from $183 million during the second quarter of 2002 to $206.5 million in total revenues during this year’s second quarter. Net losses also increased from $35.5 million last year, or 54 cents per share, to $64.7 million this year, or 97 cents per share.
Analysts were expecting Triton to post $210 million in total revenues during the second quarter and a net loss of $49 million, or 73 cents per share.
The carrier noted customer growth dropped from 44,327 net subscriber additions last year to 19,031 customers this year, which was well below analysts’ predictions of 29,000 net subscriber additions. Customer churn remained stable at just over 2 percent and Triton’s management added that it expects customer churn to remain in the low 2-percent level for the full year.
Average revenue per user decreased nearly $2 from $58.42 during the second quarter of 2002 to $56.51 this year, which was in line with estimates, but was up nearly $3 compared with first-quarter 2003 due to certain price increases and seasonally strong usage.
