Teligent Revenues, Customer Base Increase During Q3 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.