ALEXANDRIA, Minn.-Rural Cellular Corp. posted $124.3 million in total revenues for the third quarter, a slight increase from the $123.2 million the carrier reported for the third quarter last year. A $2.5 million drop in roaming revenue was offset by a $1.5 million increase in service revenues and $2.2 million increase in equipment sales.
Net losses for the quarter dropped from $26.1 million, a loss of $2.20 per share, to $5.1 million, a loss of 43 cents per share.
Rural Cellular also reported customer additions for the quarter totaled 7,900 postpaid subscribers prior to a one-time reclassification of 3,125 customers from postpaid to wholesale, compared with 9,100 customers added during the third quarter of 2001.
Other reported metrics included a drop in postpaid customer churn from 2.8 percent last year to 1.9 percent this year, a decrease in average revenue per user from $58 to $54 and an increase in cost per gross customer addition from $308 to $411.
