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TheStreet Open House

Shenandoah Telecommunications' CEO Discusses Q1 2011 Results - Earnings Conference Call

Stocks in this article: SHEN

Shentel provides a detailed discussion of various risk factors in our SEC filings, which you are strongly encouraged to review. You’re cautioned not to place undue reliance on these forward-looking statements. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statement.

Also, in an effort to provide useful information to investors, we note on slide three that our comments today include non-GAAP financial measures. Details of these measures, including why we use them and reconciliations to the most comparable GAAP measures, are included in our SEC filings.

I'll turn the call over to Chris now.

Christopher French

Thank you, Adele. We appreciate everyone joining us this morning. I'm pleased to report that we had a great first quarter with growth in all of our business segments in terms of our customers and revenues. Slide 5 lists some of these highlights.

We again had positive net wireless additions in both our postpaid and prepaid services with the number of total customers up 5% over the year-end 2010 number. Prepaid contributed over 80% of the net customer growth adding over 13,000 net customers.

Since we began offering prepaid products in June we have added over 30,000 net customers. We also had solid growth in postpaid, adding over 3000 net customers. Our cable segment continued to add RGUs as we increased our service penetration levels. We ended the quarter with 130,700 cable segment RGUs.

Specific cable segment highlights are shown on slide 6. Our cable segment total RGUs increased by 2438 in the first quarter, an increase of nearly 2% over the year-end 2010 total. We experienced a slight decrease in basic video RGUs bu good increases in digital video, high-speed internet and voice services.

Major upgrades in the recently- acquired JetBroadband markets just began in April and we expect to continue increasing penetration levels as we make further service improvements. Wireless segment highlights are shown on slide 7.

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