SunCom Posts Q3 Loss of US$40.5mn

US and Puerto Rican mobile operator SunCom Wireless Holdings narrowed net losses in the third quarter of 2006 to US$40.5mn, down 65.5% from the US$117mn loss in the same quarter last year, the company said in a statement.

The quarter-on-quarter reduction in profit loss reflected subscriber growth, higher roaming traffic and lower cash operating costs, according to the statement.

Total revenue for the quarter rose 2.13% to US$219mn compared to US$214 in 3Q05. This included a 4.1% increase in service revenues to US$171mn and a 20.5% increase in roaming revenues to US$23.5mn.

Total operating expenses for the third quarter decreased to US$220mn, down 25.3% from the US$294mn in the year-ago quarter.

The company ended the quarter with a total of 1.04 million subscribers, up 10.3% year-on-year from 942,328 at end-3Q05.

"The positive third quarter results are another indication that SunCom is making gains in growing its cash flows and building its subscriber base," chairman and CEO Michael E. Kalogris said.

Adjusted Ebitda was US$30.2mn in Q3, a 445% gain over US$5.5mn in the same quarter last year.

Year-on-year, APRU was down 0.7% to US$54.56 from US$54.60 in 3Q05.

SunCom acquired the North Carolina and Puerto Rico operations of AT&T Wireless at the end of 2004.

BNAmericas.com"

Posted to the site on 6th November 2006