SureWest reports jump in FTTP subs

SureWest Communications said the number of subscribers on it fiber-to-the-premises network topped the 20,000 mark in the fourth quarter of 2005.

The company reported total operating revenue for the year of $218.6 million and net income of $6.4 million. That compares to $211.8 million in operating revenue and a loss of $1.1 million in 2004. For the fourth quarter, net income was $1.4 million on operating revenues of $53.9 million.

Following trends from previous years, the company also reported broadband revenues up 27% (to $49.9 million for 2005) and wireless revenues up 9% (to $34.2 million). It was Surewest’s FTTP group that saw the biggest leaps. As of December 31, 2005, the company was serving 20,039 customers on that network, a 27.7% jump from the 15,689 served at the end of 2004.

However, the company saw a slight decline, both average revenue per user of FTTP customers—from $104.44 in 2004 to $99.62 in 2005—and FTTP marketable homes penetrated—from 23% in 2004 to 22.3% in 2005. It should be noted, though, that the company also increased the number of homes it can reach with FTTP from 67,700 at the end of 2004 to 88,700 in 2005.

Additionally a revenue-generating-unit basis, SureWest reported a solid jump from 36,319 units in 2004 to 47,110 units in 2005.