OKLAHOMA CITY, Feb. 3, 2004 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today announced that it had approximately 14,400 net subscriber additions in the fourth quarter ended December 31, 2003. The Company recorded postpaid gross subscriber additions of approximately 89,100 for the fourth quarter and postpaid customer churn of 1.9 percent.
The above totals reflect Dobson's 100 percent ownership of American Cellular Corporation in the fourth quarter of 2003; the Company acquired American Cellular in August 2003.
Dobson also adjusted its subscriber base by a negative 4,900 subscribers at the end of the quarter, resulting in a year-end total of approximately 1,552,100 subscribers. The adjustment related to the Anchorage Metropolitan Service Area and Alaska Rural Service Area 2, which Dobson acquired in June 2004. The Company determined that more accurate subscriber counts required increasing the total of postpaid subscribers by approximately 1,700, and reducing the number of prepaid subscribers by approximately 6,600 in the two properties. These adjustments reflect actual subscriber counts subsequent to the November billing conversion versus the previous balances that were reported to the Company.
In the fourth quarter of 2002, Dobson owned 50 percent of American Cellular. In that period, the two companies together reported combined totals of approximately 37,000 net subscriber additions; 103,800 postpaid gross subscriber additions; and postpaid churn of 1.8 percent.
During the fourth quarter of 2003, Dobson made substantial progress in overlaying its wireless networks with GSM/GPRS technology. At year-end 2003, the Company had overlaid approximately 625 of its total 1,625 network sites with GSM/GPRS and EDGE-capable hardware. As of January 31, 2004, the Company had overlaid 786 sites and remains on schedule and budget to overlay all of its properties in the Continental United States by March 31, 2004, and to overlay its Alaska properties by June 30. By the end of the second quarter, Dobson plans to upgrade its network wireless data capabilities with EDGE software.
About Dobson Communications
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns wireless operations in 16 states, with markets covering a population of 10.6 million. The Company serves 1.6 million customers. For additional information on the Company and its operations, please visit its Web site at http://www.dobson.net.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding Dobson's plans to overlay its networks with GSM/GPRS/EDGE. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, but are not limited to increases in network equipment availability and other factors that could affect the GSM overlay. A more extensive discussion of the risk factors that could impact these areas and Dobson's overall business and financial performance can be found in Dobson's reports filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements.