Listed wireless broadband provider Unwired
has surpassed 50,000 customers, but is still well short of its
own targets required for it to break-even.
In documents filed with the Australian Stock Exchange today, Unwired said
it had increased its customer base by 13 percent in the quarter
ending 31 March.
The company reported AU$7.051 million in customer revenue.
However, the company has said previously
it needs 70,000 customers in Sydney alone if it is to reach break-even
The telco recently began offering its service in parts of
Melbourne. As a result, working capital costs increased to AU$3.913
million (compared to AU$2.881 million the previous quarter).
"This reflects an increase in desktop modem and wireless card
stock levels in preparation for the Melbourne launch," chief
executive David Spence said in the filings.