Dobson shows greater net loss

Dobson Communications Corp. reported a larger net loss for the first quarter due to refinancing activities.
The regional carriers posted a net loss of $32.6 million for the quarter, more than double the net loss of $13.3 million reported during the first quarter last year. The company said its net loss included a $57.5 million loss from refinancing debt and an income tax benefit of $19 million.
The company reported revenues of $334.4 million, up from revenues of $287.6 million during the corresponding quarter last year. Service revenues accounted for $253.9 million of the total, while roaming revenues added $61.9 million. Analysts, on average, had expected the company to report total revenues of $317.6 million.
Dobson said it added 12,900 net postpaid subscribers and recorded a 1.86 percent postpaid churn rate after disconnecting 4,350 unprofitable, high-roaming customers during the quarter. Gross postpaid customer additions for the quarter totaled 94,300 subscribers, nearly even with gross additions of 95,000 during the same quarter last year.
The company said its average revenue per user grew 8.5 percent to $50.73, surpassing $50 for the first time.
Dobson’s stock was up more than 6% on the news to around $10 per share.