Pegasus Revenues More Than Double During 1st Quarter
Staff -- TWICE, 5/21/2001
BALA CYNWYD, PA. — Digital broadcast satellite (DBS) provider Pegasus Communications reported net revenues increased 105 percent in the first quarter, reaching $213.5 million, compared with $104 million in the same three months last year. These numbers do not include the results of discontinued cable operations sold in September 2000.
Net loss increased to $89 million in the first quarter ended March 31, compared with a $56.3 million loss in the year-ago period.
DBS revenue increased 115 percent to $205.8 million, compared with $95.9 million registered in the first quarter last year. The average monthly revenue per subscriber increased 11 percent to $48.48 in the first quarter, compared with $43.52 in the year-ago three months.
Subscriber acquisition costs increased 112 percent to $54 million during the first three months, compared with $25.4 million in the first quarter of 2000.
The company had 702,000 subscribers at the beginning of the first quarter in 2000, boosting this 100 percent to 1.4 million at the beginning of the first quarter in 2001. At the end of the first quarter this year, the company had 1.44 million subscribers, up 80 percent from the 802,000 subscribers in the year-ago period.
Net subscriber additions for these periods increased 71 percent, from 21,000 at the beginning of the first three months of last year to 36,000 at the beginning of this year's first quarter.
