Horizon PCS Reports Mixed Results For Q1
BY KRISTY BASSUENER
MAY 14, 2002
Horizon PCS Inc., a Sprint PCS affiliate carrier, today reveals its first-quarter loss
grew to $36.8 million, or 68 cents per share, compared with $19.5 million, or 38
cents per share one year earlier. However, the loss narrowed slightly from the
fourth quarter of 2001, when Horizon posted a loss of $40.8 million, or 70 cents
per share. Sales grew to $48.2 million, compared with $19.3 million one year ago
and $44.8 million in the fourth quarter.
Apparently facing the same subscriber-addition trouble as most carriers during
the past quarter, Horizon PCS added 28,600 new users, ending the period with
222,700 subscribers. That compares with 47,494 added in the traditionally busy
fourth quarter. In the first three months of 2001, the carrier added 18,234.
Churn grew to 3.2 percent, compared with 3 percent in the fourth quarter and 2.3
percent one year earlier. Average revenue per user also slid to $74, compared
with $83 in the fourth quarter and $80 one year earlier.
Horizon PCS expects the subscriber slump to continue into the current quarter.
The carrier predicts it will add 14,000 to 19,000 new users during the second
quarter, with ARPU dropping to $56 to $57. |
