Mexican cellco Iusacell has posted a MXN279 million (USD26.67 million) net loss for the first quarter of 2008, compared to a loss of MXN1.27 billion in the same period of 2007. Revenues during the period increased 31% to reach 2.76 billion, compared to MXN2.11 billion while EBITDA rose 45% to MXN560 million. The EBITDA margin increased to 20% at the end of Q1 compared to 19% a year ago. The company ended March with around 3.97 million subscribers. CAPEX for the quarter was MXN217 million, which was channelled into improving network coverage and capacity of its 3G network.