Centennial Communications Corp. is a regional telecommunications service provider serving markets with a population of approximately 19.3 million in the Caribbean and the United States. In the Caribbean, the Company is a facilities-based, fully integrated communications service provider offering both wireless and broadband services to business and residential customers

http://www.centennialwireless.com

WALL, NJ, Oct 07, 2008 (MARKET WIRE via COMTEX News Network) -- Centennial Communications Corp. (NASDAQ: CYCL) ("Centennial") today reported net income of $7.5 million, or $0.07 per diluted share, for the fiscal first quarter of 2009 as compared to net income of $5.8 million, or $0.06 per diluted share, in the fiscal first quarter of 2008. Consolidated adjusted operating income (AOI)(1) was $101.3 million for the fiscal first quarter, as compared to $94.6 million for the adjusted prior-year quarter. For comparison, the Company's fiscal 2008 financial results have been adjusted to reflect the discontinuation of its loaned phones program in Puerto Rico as of June 1, 2008(2). 
"In the U.S., we again benefited from strong retail ARPU growth by selling at every customer touch-point and harnessing a growing data revenue opportunity," said Michael J. Small, Centennial's chief executive officer. "Our local market strategy continues to work because we remain committed to a proven sales and customer care philosophy that emphasizes direct, high-quality interactions with our subscribers." 
Small continued, "In Puerto Rico, our new menu of unlimited rate plans remains a key differentiator with premium users of wireless service. We're seizing the initiative with an unparalleled collection of assets to attack the enterprise, residential and wireless markets in a comprehensive way." 
Centennial reported fiscal first-quarter consolidated revenue of $265.2 million, which included $147.8 million from U.S. wireless and $117.4 million from Puerto Rico operations. Consolidated revenue grew 7 percent versus the fiscal first quarter of 2008. The Company ended the quarter with 1,090,400 total wireless subscribers, which compares to 1,058,500 for the year-ago quarter and 1,092,600 for the previous quarter ended May 31, 2008. The Company reported 596,700 total access lines and equivalents at the end of the fiscal first quarter, which compares to 536,100 for the year-ago quarter. 

CENTENNIAL SEGMENT HIGHLIGHTS 

U.S. Wireless Operations 

--  Revenue was $147.8 million, a 7 percent increase from last year's
    first quarter.  Retail revenue (total revenue excluding roaming revenue)
    increased 10 percent from the year-ago period primarily driven by strong
    data, access and feature revenue.  Roaming revenue decreased 12 percent
    from the year-ago quarter primarily due to an 18 percent decline in the
    rate per minute for roaming traffic.
--  Average revenue per user (ARPU) was $74 during the fiscal first
    quarter, a 4 percent year-over-year increase.  ARPU included approximately
    $6.62 of data revenue per user, which grew 55 percent from the year-ago
    period.
--  AOI was $58.6 million, a 10 percent year-over-year increase,
    representing an AOI margin of 40 percent.  AOI benefited from strong growth
    in retail revenue, partially offset by a decline in roaming revenue.
--  U.S. wireless ended the quarter with 659,800 total subscribers, which
    compares to 646,300 for the prior-year quarter and to 665,300 for the
    previous quarter ended May 31, 2008.  Postpaid subscribers decreased 4,100
    from the fiscal fourth quarter of 2008 due to higher postpaid churn of 2.6
    percent.  The Company expects postpaid churn to be lower during the
    remainder of the 2009 fiscal year.  Total gross additions remained solid
    and grew 4 percent from the year-ago period.
--  Capital expenditures were $8.7 million for the fiscal first quarter.
Puerto Rico Wireless Operations 

--  Revenue was $84.8 million, an increase of 4 percent from the prior-
    year first quarter, primarily driven by a 4 percent increase in total
    subscribers.
--  ARPU was $66, which was unchanged when compared to the year-ago
    period.  ARPU included approximately $8.42 of data revenue per user, which
    increased 37 percent from the year-ago period.

--  AOI totaled $23.0 million, an adjusted 1 percent year-over-year
    decrease, representing an AOI margin of 27 percent.  AOI was unfavorably
    impacted by an adjusted 10 percent increase in handset costs primarily
    related to customer retention.

--  Puerto Rico wireless ended the quarter with 430,600 total subscribers,
    which compares to 412,200 for the prior-year quarter and to 427,300 for the
    previous quarter ended May 31, 2008.  Postpaid subscribers increased 2,900
    from the fiscal fourth quarter of 2008, aided by stable postpaid churn of
    2.5 percent.

--  Capital expenditures were $6.7 million for the fiscal first quarter.
 
 

Centennial Communications Signs Definitive Agreement to Acquire Islanet Communications 
Transaction Adds Roster of Multi-Location Commercial Customers; Strengthens Broadband Network Reach With WiMAX Spectrum
WALL, NJ, May 09, 2007 (MARKET WIRE via COMTEX News Network) -- Centennial Communications Corp. (NASDAQ: CYCL) ("Centennial") today announced that it entered into a definitive agreement to purchase Islanet Communications ("Islanet"), a provider of data and voice communications to business and residential customers in Puerto Rico. The transaction is expected to close in the third calendar quarter of 2007, subject to the satisfaction of customary closing conditions including regulatory approval for the transfer of Islanet's 2.5Ghz spectrum holdings. The transaction is expected to be modestly accretive to Centennial's free cash flow within the first year after closing. 
Islanet operates a facilities-based wireless network that primarily delivers data connectivity solutions to approximately 200 multi-location commercial customers in Puerto Rico. Islanet's service portfolio includes point of sale data, credit card transactions, Internet access and Voice over Internet Protocol (VoIP). Islanet also holds 2.5Ghz spectrum suitable for WiMAX technology on the island, which supports its recently launched residential wireless Internet service. 
"We're pleased to expand our comprehensive set of bandwidth and networking solutions for commercial customers with our acquisition of Islanet Communications," said Michael J. Small, Centennial's chief executive officer. "This transaction immediately expands the addressable market for our broadband business by providing more efficient last-mile access to reach small and medium-sized business customers. We'll continue to evaluate an expanded deployment of WiMAX as the technology evolves." 
Islanet's majority investor is Advent-Morro Equity Partners, a Puerto Rico-based affiliate of private equity firm Advent International. "We're delighted to monetize our investment in Islanet and partner with Centennial in bringing innovation to enterprise customers on the island," said Cyril Meduna, Advent-Morro's managing partner. "These assets are complementary to Centennial's already strong presence in Puerto Rico, and with their financial resources and operational excellence, will only benefit the local market