nTelos reports first quarter results
Operating revenues were up 2 percent in the first quarter at nTelos primarily on a strong retail quarter, according to a financial report released on Wednesday.
Retail revenues, which include subscriber and equipment revenues, increased 5 percent to $81.4 million for the first quarter 2014, compared to $77.6 million for the first quarter 2013. Wholesale and other revenues, derived primarily from the the Waynesboro-based company’s Strategic Network Alliance with Sprint, were $40.7 million for the first quarter 2014, compared to $41.8 million for the first quarter 2013; and
“The competitive atmosphere in the wireless industry showed no signs of tempering in the first quarter of 2014,” said James A. Hyde, CEO of nTelos Holdings Corp. “Against this challenging backdrop, nTelos has successfully adapted, positioning nControl as a compelling alternative to the restrictive plans offered by the national carriers. Our strategic shift to a shared plan offering, along with our focus on providing more freedom and flexibility, helped nTelos post our ninth consecutive quarter of positive subscriber growth. Based on the initial success of nControl, we plan to aggressively introduce additional features and options that will further enhance the offering.”
Total subscribers were 468,000 as of March 31, 2014, compared to 451,000 for the same period of 2013. Total subscriber gross additions for the first quarter 2014 were 45,400, compared to 48,500 for the same period of 2013.
“The wireless environment remains very dynamic,” Hyde said. “In addition to launching new features that should further enhance our nControl plans, we will also continue to deploy LTE throughout our footprint to ensure all customers get the best possible network experience and access to high speed mobile broadband services. We believe our focus on execution will allow us to drive value for all of our key stakeholders.”