SCHAUMBURG, Ill.-Sprint PCS affiliate and AirGate PCS Inc. unrestricted subsidiary iPCS Inc. reported $45.8 million in total revenues for its second fiscal quarter ended March 31, which was slightly above the $45.4 million the carrier reported for the same quarter of 2003. Despite posting flat year-over-year revenue growth, a significant drop in operating expenses allowed the carrier to post a drop in net losses from $38.6 million last year to a loss of $6.1 million this year.
Net customer additions during the quarter increased from a loss of 9,300 customers last year to a gain of 6,900 subscribers this year, fueled by both an increase in gross customer additions and a drop in customer churn from 4.2 percent to 2.7 percent. The carrier said it ended the second quarter of this year with 227,400 total subscribers.
Average revenue per user also increased from $51 during the second quarter of 2003 to $53 this year, while the cost per gross addition dropped from $378 to $340 and cash cost per user fell from $41 to $30.
