OKLAHOMA CITY, April 17, 2001 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today announced continued strong growth in subscribers and demand for digital wireless products and services in its first quarter ended March 31, 2001.
The Company is reporting proportionate gross subscriber additions of approximately 90,600 for the first quarter, compared with 62,600 for the first quarter of 2000. These proportionate results reflect Dobson's 50% ownership in American Cellular Corporation through its joint venture with AT&T Wireless Services, Inc. (NYSE:AWE). The joint venture acquired American Cellular on February 25, 2000, so first quarter results for 2000 reflect just over one month's results for American Cellular.
Along with strong sales in the first quarter this year, Dobson is reporting that a record number of analog customers -- approximately 57,000 -- migrated to digital calling plans during the period. This compares with 52,900 in the fourth quarter of 2000, on a proportionate basis.
The Company is reporting customer churn for the first quarter at 2.1 percent, in line with guidance for the year. Consequently, the Company is reporting net subscriber additions of approximately 40,100 for the first quarter, compared with 36,800 for the period last year. Again, last year's total reflects just over one month's results at American Cellular.
Based on this growth, Dobson is reporting that the digital portion of its subscriber base grew to approximately 508,900 as of March 31, 2001, or 52 percent of its proportionate customer base of 971,300. At the end of the first quarter last year, only 15 percent of the Company's subscribers were on digital calling plans, and at the end of the fourth quarter of 2000, Dobson's customer base was 43 percent digital.
Dobson plans to report its first quarter results after the close of normal market trading on Wednesday, May 9, 2001. The Company plans to hold its earnings conference call at 9 a.m. ET, Thursday, May 10.
Dobson also announced that its 2001 Annual Meeting of Stockholders will be held on Friday, May 25, 2001. The meeting will begin at 9 a.m. CT at the Waterford Marriott Hotel, which is located at 6300 Waterford Boulevard, Oklahoma City, 73118. The shareholder record date for the annual meeting will be May 1, 2001.
Dobson includes both postpaid and prepaid subscribers in its net subscriber additions. Gross subscriber additions and churn are reported on a postpaid basis only.
Dobson Communications is a leading provider of cellular phone services to rural markets in the United States. Headquartered in Oklahoma City, the rapidly growing Company owns or manages wireless operations in 19 states. For additional information on the Company and its operations, please visit its Web site at 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 the Company's plans, intentions and expectations. 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 increased levels of competition, restrictions on the Company's ability to finance its growth, any market changes that would significantly decrease consumer demand for wireless products, and other factors. A more extensive discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements.
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CONTACT: Dobson Communications Corp., Oklahoma City
J. Warren Henry, Vice President, Investor Relations
(405) 529 8820