BERWYN, Pa.-Triton PCS Holdings Inc. posted increased revenue and net additions during the fourth quarter of 2000 ended Dec. 31.
The company’s revenue more than doubled from $51.9 million during the fourth quarter of 1999 to $109.8 million last year. Net additions totaled 84,811 during the fourth quarter, up from the 65,499 net additions reported for the fourth quarter of 1999.
Churn rose slightly from 1.7 percent in 1999 to 1.78 percent last year, with average revenue per user increasing from $53.41 during the fourth quarter of 1999 to $60.50 in 2000.
For the year, Triton reported total revenue of $357.2 million last year, compared with $133.2 million posted during 1999. Net additions for the year totaled 251,197, bringing the company’s customer base to 446,401 subscribers.
Triton also announced a planned 6 million-share offering of common stock under its previously filed shelf registration. The company will offer 3.5 million newly issued shares of common stock, and 2.5 million shares of common stock will be offered by current shareholders.
The underwriters, including Morgan Stanley Dean Witter and Salomon Smith Barney, will be granted an overallotment option of 900,000 additional shares in connection with the offering of 2.5 million shares by current stockholders.
Triton said proceeds from the sale will be used for capital expenditures, including the continued buildout of the network.
