CHILLICOTHE, Ohio-Sprint PCS affiliate Horizon PCS Inc., which emerged from bankruptcy protection last month, posted $45.7 million in total revenues during the third quarter of this year, which was a 32-percent drop from the $67.2 million the carrier reported during the third quarter of 2003. The carrier attributed the decline to its previously announced exit from markets in Virginia and West Virginia that were operated under a network services agreement with Ntelos Inc.
Net losses improved from a loss of $125.8 million during the third quarter of 2003, a loss of $2.15 per share, to a loss of $11.2 million this year, a loss of 19 cents per share.
Net customer losses also improved from a loss of 8,900 subscribers during the third quarter of 2003 to a loss of 6,300 customers this year. The improvement was attributed to a reduction in customer churn from 3.2 percent last year to 3.1 percent during the third quarter of 2004, which offset a drop in gross customer additions from 23,600 subscribers last year to 12,600 gross subscriber additions this year. Horizon PCS ended the third quarter of 2004 with 184,500 customers.
Average revenue per user dropped from $55 during the third quarter of 2003 to $54 this year, while the cost per gross addition increased from $383 last year to $389 this year.
