SAN JOSE, Calif.--(BUSINESS WIRE)--July 17, 2001--Metricom
(NASDAQ: MCOM), a high-speed wireless data services company, today
announced that its high-speed Ricochet subscriber count as of June 30,
2001 had increased quarter over quarter to 34,500. This represents an
increase of 57% compared with 22,000 subscribers reported at March 31,
2001. A significant component of the increase is attributable to the
Company's local marketing campaign and new service offering in the
existing San Diego market.
As of June 30, 2001, subscriber numbers totaling 51,200 comprised
34,500 subscribers to Metricom's high-speed service and 16,700
subscribers to its original 28.8 kbps service. This compares with
22,000 subscribers to the high-speed service and 18,900 subscribers to
the 28.8 kbps service at the end of the preceding quarter. The Company
experienced its strongest growth in San Diego, with the number of
subscribers to the high-speed service increasing by more than 200%
during the quarter relative to the preceding quarter. Subscribers to
the Company's new low-cost Ricochet 128 kbps local service represented
over 70% of subscriber growth in San Diego since the new service was
launched in mid-May.
Commenting on the announcement, Interim CEO Ralph C. Derrickson
said, "We are pleased with the growth in subscriber numbers,
especially in San Diego. The early response to our new service
offerings is consistent with our market research suggesting there are
additional buying segments for our Ricochet service."
Introduction of the Ricochet $44.95 128 kbps local service
resulted in the addition of nearly 1,300 subscribers within the first
six weeks in the San Diego market alone. This rapid adoption of the
local service was accompanied by growth in the number of subscribers
to the existing national 128 kbps service of nearly 30% during the
same period. The new local service is designed to appeal to consumers
and business people alike who seek high-speed access alternatives to
DSL and Cable and value the added flexibility and mobility that the
Ricochet wireless solution can provide. |
