NII Holdings -which operates Nextel branded networks in Latin and South America – says that it added 433,000 net subscribers to its networks, bringing its ending subscriber base to more than 10.2 million, a 19 percent increase compared to the subscriber base over the past year.

Financial results for the quarter included consolidated operating revenues of US$1.75 billion, a 21 percent increase, but also reported a net loss of $3 million compared to a profit of US$118.5 million.

Last years profit was boosted by a gain of US$28.4 million from foreign currency transactions, but this year the company lost US$63.9 million from those transactions.

“Our consolidated operating results during the quarter included improved subscriber growth, driven by a significant improvement in net subscriber additions in Mexico,” said Steven Dussek , NII Holdings’ chief executive officer.”

NII Holdings’ consolidated average monthly service revenue per subscriber (ARPU) was $49 for the third quarter of 2011, up nearly $2 when compared to the same period last year, driven primarily by year-over-year improvements in average currency exchange rates.

The company ended the quarter with $4.1 billion in total long-term debt and $2.6 billion in consolidated cash and investments, resulting in $1.5 billion of net debt at the end of the quarter.

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