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Centennial promises to improve cash flow

Centennial Communications Corp. reduced its losses during its fiscal third quarter, posting an overall net loss but essentially breaking even on revenues from its continuing operations. The carrier also saw a 15-percent year-over-year increase in revenues from its U.S. wireless operations.
The carrier operates in the United States and Puerto Rico.
“Momentum in our U.S. wireless business is very strong,” said Michael Small, CEO of Centennial. In Puerto Rico, he added, an unlimited service offering has helped restore customer growth, improve customer retention and stabilize average revenue per user. “With these key operating metrics moving in the right direction, our focus will turn to steady cash flow growth,” he added.
Centennial reported a net loss of $1.3 million, a reduction from the $6.1 million that it lost during the same quarter last year. The carrier earned income from continuing operations of $0.3 million, compared to a loss of $2.7 million during the previous year’s fiscal third quarter. Centennial’s fiscal third quarter ended Feb. 28.
Revenue from U.S. operations was $126.5 million, up 15 percent year-over-year. Overall, Centennial reported ARPU of $66, with total churn of 2.4 percent. The carrier gained 26,800 net new customers during the quarter-1,000 more than during its 2006 fiscal third quarter.
In the U.S., ARPU was $67, with data ARPU at $3.33 per customer. Total churn for its U.S. operations was 2.2 percent.
Centennial ended the quarter with nearly 1.1 million customers. In the U.S., the carrier had 612,000 postpaid subscribers and 22,800 prepaid users. The company completed the sale of its Dominican Republic operations on March 13 for $80 million.


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