CellularOne retains the number one spot


CellularOne retained its position as the the largest cellular provider in the Bermuda market in the first quarter of this year, the company’s US part owner has announced.

Atlantic Tele-Network Ltd. (ATN), which owns a 43-percent stake in CellularOne’s parent company Bermuda Digital Communications ((BDC), said its share of earnings from the enterprise in the first three months of 2007 matched last year’s figure from the same period.

“Equity in the earnings from BDC, our Bermuda affiliate, stayed level at $0.5 million for the first quarter 2006 and 2007,” ATN said its earnings statement.

“Wireless subscribers were down slightly from December 31, 2006, although we maintained our position as the largest of the three competitive cellular providers in Bermuda and managed to increase post-paid subscribers since the end of 2006.”

Overall, ATN logged net earnings of $6.9 million for the quarter, as compared to $4.1 million for the same period in 2006, an increase of $2.8 million or 68 percent. Revenue rose $9 million (26 percent) to $43.5 million.

ATN has telecommunications interests in the US, Guyana, Bermuda and the US Virgin Islands and has offices in Salem, Massachusetts and St. Thomas, US Virgin Islands.

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