U.S. Cellular Slips To Loss In Q3; Cuts FY13 Service Revenues Outlook

(RTTNews) - United States Cellular Corp. (USM) reported that its third-quarter of 2013 net loss attributable to shareholders was $9.9 million or $0.12 per share, compared to net income of $35.5 million or $0.42 per share in the comparable period one year ago.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Service revenues for the quarter were $862.3 million, versus $1.036 billion for the comparable period one year ago. Total operating revenues for the quarter declined to $939.24 million from last year's $1.14 billion. Six analysts estimated revenues of $930.25 million for the quarter.

For fiscal year 2013, United States Cellular now expects service revenues of $3.590 billion - $3.640 billion, down from prior guidance of $3.615 billion - $3.715 billion.

In a separate press release, United States Cellular announced that Jay M. Ellison has joined the company to lead its sales and customer service operations, effective today. Carter S. Elenz, the company's current executive vice president, sales and customer service, is leaving the company, effective today.

Ellison is rejoining U.S. Cellular, where he was a member of the leadership team for nearly 10 years, serving most recently as executive vice president and chief operations officer, before retiring from the company at the end of 2009.