ARLINGTON, Va.-AT&T Wireless Services Inc. affiliate TeleCorp PCS Inc., which plans to merge with fellow AT&T affiliate Tritel, added 85,563 subscribers during the third quarter ended Sept. 30, bringing the company’s total customer base to 405,444 subscribers. The additions were a 27-percent increase from the previous quarter and a 435-percent increase from the third quarter of 1999.
TeleCorp reported total revenue for the quarter of $91.9 million, compared with $72 million posted during the second quarter of this year. Net loss attributed to shareholders decreased from $102 million for the second quarter to a loss of $89.8 million.
Losses per share also dropped from a loss of $1.01 per share last quarter to a loss of 88 cents per share this quarter, well above analyst’s predictions of a loss of 97 cents per share.
“We continued to outperform expectations in the third quarter of 2000,” said Gerald Vento, chairman and chief executive officer of TeleCorp PCS. “We accelerated the deployment of our network buildout, launched new markets ahead of schedule, and enhanced our service offerings, all to meet the strong demand for our SunCom digital services.”
Investors took the earnings results well, sending TeleCorp’s stock up more than 11 percent in early Thursday trading, to $21.63 per share.
The company also reported its average revenue per user fell from $62 during the second quarter to $59 during the third quarter, with customer churn increasing from 2.8 percent to 3.6 percent.
Alamosa PCS reports increased revenue
LUBBOCK, Texas-Sprint PCS affiliate Alamosa PCS Holdings Inc. posted a 39-percent increase in subscriber revenue for the third quarter ended Sept. 30, to go along with a 31-percent increase in total subscriber numbers over the second quarter of this year.
The company added 21,874 customers during the third quarter, bringing its total subscriber base to 91,443 customers and helping Alamosa post $14.9 million in subscriber revenue for the quarter. Total revenue increased from $1.9 million during the third quarter of last year to $22.9 million this year.
Alamosa’s net losses for the third quarter increased from a loss of $11.9 million last year, to a loss of $17.4 million this year. Net loss per common share also increased from 25 cents per share last year to 28 cents per share this year.
“We are pleased with our growth during the third quarter,” said David Sharbutt, chairman and chief executive officer of Alamosa. “While our financial results continue to reflect the considerable investment associated with the completion of our network build-out, we are very pleased with the initial results we are seeing in the commercial Sprint PCS market launches in portions of Alamosa’s, Robert’s and WOW’s territories.”
Alamosa also reported its average monthly revenue per user excluding roaming increased from $60 during the second quarter to $63 during the third quarter, with customer churn at 3.4 percent.
