Bolstered by the addition of nearly 40,000 new customers, Vienna, VA-based Teligent Inc. reports third-quarter 1999 revenue of more than $10.3 million, up 160% from the $4 million recorded in Q2 1999.
The nearly 40,000 new customer lines installed in the third quarter brings the company's cumulative total to more than 76,000, up more than 110% from the customer base at the end of the second quarter. The third-quarter installations helped Teligent eclipse its goal of installing 75,000 customer lines by year-end.
Also during the third quarter, Teligent increased the number of buildings connected to its local SmartWave communications networks by 40%, bringing the total number of "on-net" buildings to 2,124.
Due to continuing expansion and investment in the construction of its local communications networks, Teligent suffered a net loss of $144 million for the third quarter, compared to $123 million for the second quarter. Capital expenditures for the third quarter were $46 million, up from $35 million in the second quarter.