Updated from Aug. 4
posted a solid second-quarter profit Wednesday, as revenue rose 30% from a year ago.
For its second quarter ended June 30, the Bellevue, Wash., rural wireless service provider earned $41 million, or 42 cents a share. That compares with the year-ago $40 million, or 49 cents a share, though results in that period were boosted by a $40 million gain on the sale of an overseas joint venture. Revenue jumped to $466 million from $359 million a year earlier.
Wall Street analysts surveyed by Thomson First Call had forecast a 35-cent profit on sales of $468 million.
Domestic net subscriber additions for the quarter were 10,900. Churn was 2.4%, flat with the year-ago period but up from the first quarter of 2004.
Subscriber revenue rose 14% in the latest quarter, but roamer revenue fell to $53.8 million from the year-ago $54.7 million. Roamer minutes of use jumped 16% over the second quarter of 2003.
The average monthly cost of serving a subscriber -- cost of service plus general and administrative expenses -- rose 6.3% to $24.31.
In early action Thursday, Western Wireless added 57 cents to $26.25.