BALA CYNWYD, Pa.-Wireless operator UbiquiTel Inc. posted what it called “extremely productive” second-quarter results, after launching initial services earlier this year.
The company reported total revenue for the quarter of $2.2 million, consisting of approximately $1.4 million in subscriber revenue, $700,000 of travel and roaming revenue and $100,000 of equipment revenue.
Net loss for the quarter totaled $11.3 million, resulting in a loss of 22 cents per share.
As of June 30, UbiquiTel reported 9,897 subscribers, with an average monthly revenue per user of $83 including roaming, and $56 excluding roaming revenue.
“This has been an extremely productive quarter and first six months for UbiquiTel,” said Donald Harris, chairman and chief executive officer of UbiquiTel. “Since launching our operations earlier this year, we have initiated an aggressive buildout strategy and raised the necessary capital to begin to realize the value represented by the 7.7 million pops in our market. We are moving aggressively to build out five additional markets in the fourth quarter, and by year-end, we expect to cover approximately 25 percent of our licensed pops.”
