KIRKLAND, Wash.-Bolstered by a low 1.7 percent churn rate and an average monthly revenue per subscriber rate of $73, Nextel Partners Inc. reported strong second-quarter financial results.
Company revenue increased from $6.8 million for the second quarter of 1999 to $31.7 million for the same quarter this year. For the first six months, Nextel Partners reported $50.2 million in total revenue, compared with $11.1 million last year.
Along with the increased revenue came increased losses that The company attributed to its continued focus on building out its network. For the second quarter, the company posted a net loss of $80 million, compared with a loss of $19.4 million for the second quarter last year. For the first half of the year, Nextel Partners posted a net loss of $135.2 million, compared with a loss of $36.8 million for the first six months of 1999.
Diluted loss per share attributed to shareholders dropped from $6.56 per share during the second quarter last year to a loss of 34 cents per share this year. Six-month total loss per share was also down from $12.63 per share in 1999 to a loss of 80 cents per share this year.
Nextel Partners also reported a 60-percent increase in subscriber additions compared with the previous quarter, jumping from 75,400 subscribers during the first quarter of 2000 to 121,000 subscribers for the second quarter.
