WESTBOROUGH, Mass.-Paging and messaging carrier Arch Wireless Inc. reported a net income of $6.1 million for its first quarter on revenues of $165 million, while showing a decline in subscribers of almost half a million.
The carrier, which recently emerged from Chapter 11 bankruptcy, said its results are not comparable to its previous earnings before filing for bankruptcy.
Arch said it lost a total of 477,000 messaging units during the first quarter, including 460,000 one-way paging units and 17,000 two-way paging units. The company said its total subscriber base is 5.1 million. The numbers are notable since paging and messaging carriers had been hoping to bolster declining one-way subscriber numbers with the addition of two-way customers.
“Our operating results were consistent with our expectations as we continued to reduce operating expenses and maintained operating margins over the past year,” said C. Edward Baker, the carrier’s chairman and chief executive officer.
