UbiquiTel Reports Third Quarter 2005 Results - Oct 25, 2005 04:00 PM (PR Newswire)
CONSHOHOCKEN, Pa., Oct. 25 /PRNewswire-FirstCall/ -- UbiquiTel Inc. (Nasdaq: UPCS), a PCS Affiliate of Sprint Nextel Corporation (NYSE:S), today reported financial and operating results for the quarter ended September 30, 2005.
Highlights for the 3rd Quarter 2005:
-- Net income for the third quarter 2005 was $6.2 million, or $0.06 per diluted share, compared to $1.5 million, or $0.02 per diluted share, in the third quarter 2004. In the third quarter 2005, the company incurred $1.7 million of expense associated with litigation against Sprint Nextel and $0.8 million for restructuring charges relating to its sales organization. Excluding these charges, net income was $8.7 million, or $0.09 per diluted share.
-- Adjusted EBITDA in the third quarter 2005 grew 29% to approximately $29.9 million from the same period a year ago. Excluding the above charges, Adjusted EBITDA in the third quarter 2005 grew 40% to approximately $32.4 million from the same period a year ago.
-- Service revenues in the third quarter 2005 grew 11% to approximately $105.0 million from the same period a year ago.
-- Net subscriber additions for the quarter were approximately 10,700, bringing total subscribers, excluding resellers, to approximately 434,300. Churn was 2.6% in the third quarter 2005 compared to 2.9% in the third quarter 2004.