EDINBURG, Va., March 7, 2011 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (Nasdaq:SHEN) announces financial and operating results for the three and twelve months ended December 31, 2010.
- Revenue of $57.9 million, an increase of 44% from fourth quarter 2009
- Net income from continuing operations of $3.5 million, compared to $5.8 million in fourth quarter 2009
- Adjusted operating income before depreciation and amortization (adjusted OIBDA) of $21.3 million, an increase of $4.1 million from the fourth quarter of 2009
- Net PCS additions of 5,112 postpaid customers and 10,775 prepaid customers
- Cable segment revenue generating units increased 2,843 during the fourth quarter of 2010, compared to an increase of 1,040 in the fourth quarter of 2009, and reached 104,440 at year end 2010
- Total postpaid PCS customers at year end were 235,697, up 5.8% for the year. Prepaid PCS customers totaled 66,956 at year end
- Postpaid churn was 1.85% compared to 1.99% in fourth quarter 2009. Prepaid churn was 4.63%