Business
Shentel Reports 2019 Strong Fourth Quarter and Year End Operating Statistics
EDINBURG, Va., Jan. 07, 2020 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN) announces preliminary operating statistics for
About this update from Shenandoah Telecommunications Co
[{"type":"text","content":"EDINBURG, Va., Jan. 07, 2020 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN) announces preliminary operating statistics for the fourth quarter and year-end 2019.\n “We achieved our second consecutive quarter of record postpaid wireless gross and net postpaid additions in the fourth quarter 2019, driven in part by our network and distribution investments in the recently acquired Parkersburg expansion areas. We grew postpaid gross and net additions in 2019 by 24% and 142%, respectively, giving us strong sales momentum in our Wireless business as we enter 2020,” said President and CEO Christopher French “Our Cable and Wireline focus on increasing broadband penetration, together with the acquisition of Big Sandy Broadband, produced 11.3% year-over-year growth in cable broadband RGUs with broadband penetration increasing to 40.7% as of December 31, 2019. We continue to see the benefits of the recently completed DOCSIS 3.1 upgrades which have enabled 1 Gigabit download speeds across our footprint, while our new rate card and ongoing improvements in customer service and operations have significantly increased customer satisfaction and retention.” WIRELESS December 31,2019 December 31,2018Retail PCS subscribers – postpaid 844,194 795,176Retail PCS subscribers – prepaid 274,012 258,704Total PCS subscribers 1,118,206 1,053,880 Three Months Ended Twelve Months Ended December 31, December 31, WIRELESS 2019 2018 2019 2018 Gross PCS subscriber additions – postpaid 71,830 54,517 235,953 190,334 Net PCS subscriber additions – postpaid 20,777 9,639 49,018 20,236(1)Gross PCS subscriber additions – prepaid 39,352 38,225 152,098 150,662 Net PCS subscriber additions – prepaid 2,461 3,242 15,308 17,191(1)PCS average monthly retail churn % – postpaid 2.05% 1.90% 1.92% 1.82% PCS average monthly retail churn % – prepaid 4.52% 4.55% 4.26% 4.45% (1) Results exclude 38,343 postpaid and 15,691 prepaid subscribers acquired on February 1, 2018 in the Richmond Expansion Area. CABLE AND WIRELINE December 31, 2019 (2) December 31, 2018 Cable (3)WirelineTotal CableWirelineTotalCable homes passed 189,762 16,500 206,262 185,119 16,500 201,619 Video RGUs 48,613 5,024 53,637 53,086 5,586 58,672 Penetration 25.6% 30.4% 26.0% 28.7% 33.9% 29.1% Broadband RGUs 77,227 6,689 83,916 70,183 5,206 75,389 Penetration 40.7% 40.5% 40.7% 37.9% 3...