Clearwire Corp. said Wednesday that it was one of the fastest growing telecommunications companies in the country last year, reporting revenues that jumped 143 percent to $1.25 billion. Wholesale revenue — in which the company resells access to its high-speed wireless network — represented $493 million of the company’s revenue.
The Kirkland company, which lost $236 million in the fourth quarter, said it ended the year with 10.4 million customers. For the year, it reported a net loss from continuing operations of $2.8 billion.
“Our steadfast efforts to drive strong top line growth and contain costs delivered a successful year both financially and operationally while securing our position as one of the fastest growing U.S. telecommunications companies in 2011,” said Erik Prusch, President and CEO of Clearwire in a statement.
In a related announcement, Prusch also was recently appointed to the company’s board.
Shares of the company declined nearly five percent on the earnings news. Shares of Clearwire are down nearly 60 percent in the past year.