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Rogers Wireless enjoys third straight quarter of growth

TORONTO-Rogers Wireless Communications posted surprisingly strong second-quarter results, with its wireless unit reversing loses from last year. The carrier, which operates Rogers AT&T Wireless, reported profits of C$733,000 (US$465,400) for the three months ended 30 June.

Rogers Wireless made 0 cents per share for the period, compared with a loss of C$26.1 million (US$16.6 million) or C$0.16 (US$0.10) a share, a year ago. Wireless revenues climbed slightly to C$481.7 million (US$305.8 million) from C$438.7 million (US$278.6 million). The number of wireless voice subscribers grew by 15.6 percent from the second quarter of 2001 to about 3.1 million.

“We have been successful during the first half of 2002 in achieving our core objective of profitable growth,” said President and Chief Executive Officer (CEO) Nadir Mohamed. “This is the third consecutive quarter of double-digit operating profit growth.”

Capital expenses in the second quarter fell 31.4 percent to C$149 million (US$94.6 million) from C$217.4 million (US$138 million) a year ago. Customer losses continued to decline with less than 2 percent of more lucrative postpaid subscribers-flat-fee monthly customers-leaving the service.

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