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Pegasus Q2 Revenue Doubles, Loss Widens

Media company Pegasus Communications, which serves about 1.3 million customers with direct broadcast satellite (DBS), more than doubled its net DBS revenue in the second quarter, climbing 110 percent to $134.4 million, up from $64.1 million in the year-ago quarter.

The company’s net loss, however, increased 49 percent to $72.3 million, compared with a net loss of $48.7 million in the same three months last year.

Net subscriber additions for the second quarter ended June 30 climbed 23 percent to 54,510, up from 44,229 in the year-ago three months. Monthly revenue per subscriber, mainly homes in rural or under-served areas, climbed 3 percent to $43.11, from $41.89 in the year-ago period.

Looking at the six months, Pegasus reported an 88 percent increase in net revenue for its DBS operation, reaching $230.3 million, compared with $122.5 million in the same six months in 2000.

Net loss in the first half jumped 32 percent to $124.8 million, compared with $94.6 million in the first half of last year.

Net subscriber additions in the six months increased 34 percent to 104,810, up from 78,452 in the same period last year. Monthly revenue per subscriber for the six months moved up 2 percent to $43.28, compared with $42.47 in the year-ago first half.