CONSHOHOCKEN, Pa.-Sprint PCS affiliate UbiquiTel Inc. reported $58.5 million in revenues during the first quarter of 2003 compared with $46.1 million during the first quarter of 2002. The carrier added that roaming revenue dropped 20 percent from the fourth quarter of last year to the first quarter of this year due to a 42-percent decrease in roaming rates with Sprint PCS that started at the beginning of this year.
Net income improved from a loss of $29.7 million last year, or 37 cents per share, to a profit of $16.2 million during the first three months of 2003, a return of 20 cents per share.
UbiquiTel said it added 17,200 net subscribers during the first quarter of 2003 ending the quarter with 274,200 total customers. The carrier added 23,100 net customers during the first quarter of 2002.
Customer churn dropped from 4.3 percent during the first quarter of 2002 to 3.4 percent this year while average revenue per user decreased from $58 during the first quarter of 2002 to $54 during the first quarter of this year.
