Sprint Nextel Reports Third Quarter 2009 Results
- Free Cash Flow* of approximately $660 million after a $200 million pension contribution
- Achieved best net retail subscriber results in more than two years, driven by sequential improvement in both post-paid and prepaid gross subscriber additions
- Launched industry-leading Any Mobile, AnytimeSM calling feature to eliminate mobile calling circles
- Seven consecutive quarters of improvement in Customer Care Satisfaction and First Call Resolution
- Extended 4G leadership into seventeen markets
The company’s third quarter earnings conference call will be held at 8 a.m. EDT today. Participants may dial 800-938-1120 in the U.S. or Canada (706-634-7849 internationally) and provide the following ID: 29897906, or may listen via the Internet at www.sprint.com/investor.
OVERLAND PARK, Kan.-- Sprint Nextel Corp. (NYSE: S) reported third quarter 2009 financial results that included consolidated net operating revenues of $8.0 billion, a net loss of $478 million and a diluted loss per share of 17 cents. The company generated Free Cash Flow* of $664 million in the quarter and $2.1 billion year-to-date in 2009. As of September 30, 2009, the company had $5.9 billion in cash, cash equivalents and short-term investments and $1.6 billion in borrowing capacity available under its revolving bank credit facility, for total liquidity of $7.5 billion.
Sprint lost a total of 135,000 net retail subscribers in the quarter. The company’s year-over-year post-paid gross addition improvement was the best in Sprint Nextel history, and the sequential improvement was the best in more than five years. Net post-paid subscriber losses have improved by approximately 20 percent in each of the second and third quarters of 2009.
“Sprint achieved its best net retail subscriber results in more than two years and improvement in both post-paid and prepaid gross subscriber additions in the third quarter,” said Dan Hesse, Sprint Nextel CEO. “Sprint is beginning to attract more customers with the industry’s best device line-up and the clarity and simplicity of our offers, seven sequential quarters of improvement in customer care satisfaction, a network declared to be most reliable by PC World magazine, and recognition from Newsweek magazine which ranked Sprint 15th of 500 companies on its 2009 Green Ratings list -- the only telecom company in the Top 100.
“The company again generated strong cash flow, and while Operating Income Before Depreciation and Amortization* (OIBDA) was impacted by costs associated with growth in customer additions, previous quarters’ subscriber losses and certain seasonal costs in the quarter, Sprint continues to manage costs rigorously. We expect to see sequential quarterly improvement in both post-paid and total net subscriber losses in the fourth quarter of 2009,” Hesse said.
In 2009 Sprint has launched or announced 16 new touch, QWERTY and smart devices with a full selection of operating systems. They include Palm® Pre™ and Palm® Pixi™, Blackberry® Tour™; HTC Hero™ and Samsung Moment™ -- which are both based on Google’s Android™ platform; HTC Touch Pro 2, Samsung Instinct® HD, and Samsung IntrepidTM, which offers the new Windows Mobile® 6.5 Professional operating system. In addition, Sprint launched the nation’s first full-featured, eco-friendly phone, Samsung Reclaim™ which earlier this month was given the “Hottest in Show” award at the CTIA Convention in San Diego.
Additionally, Sprint 4G is now available in 17 markets, including Philadelphia, PA, which launched earlier this week. Sprint 4G coverage should serve a population of more than 30 million people by the end of 2009, and cover a population of up to 120 million people in about 80 markets by the end of 2010. Sprint 4G service is planned for deployment in these additional markets in 2009: Austin, TX; Charlotte, NC; Chicago, IL; Dallas/Ft. Worth, TX; Greensboro, NC; Honolulu, HI; Maui, HI; Raleigh, NC; San Antonio, TX; and Seattle, WA.
Click to read full press release
- Achieved best net retail subscriber results in more than two years, driven by sequential improvement in both post-paid and prepaid gross subscriber additions
- Launched industry-leading Any Mobile, AnytimeSM calling feature to eliminate mobile calling circles
- Seven consecutive quarters of improvement in Customer Care Satisfaction and First Call Resolution
- Extended 4G leadership into seventeen markets
The company’s third quarter earnings conference call will be held at 8 a.m. EDT today. Participants may dial 800-938-1120 in the U.S. or Canada (706-634-7849 internationally) and provide the following ID: 29897906, or may listen via the Internet at www.sprint.com/investor.
OVERLAND PARK, Kan.-- Sprint Nextel Corp. (NYSE: S) reported third quarter 2009 financial results that included consolidated net operating revenues of $8.0 billion, a net loss of $478 million and a diluted loss per share of 17 cents. The company generated Free Cash Flow* of $664 million in the quarter and $2.1 billion year-to-date in 2009. As of September 30, 2009, the company had $5.9 billion in cash, cash equivalents and short-term investments and $1.6 billion in borrowing capacity available under its revolving bank credit facility, for total liquidity of $7.5 billion.
Sprint lost a total of 135,000 net retail subscribers in the quarter. The company’s year-over-year post-paid gross addition improvement was the best in Sprint Nextel history, and the sequential improvement was the best in more than five years. Net post-paid subscriber losses have improved by approximately 20 percent in each of the second and third quarters of 2009.
“Sprint achieved its best net retail subscriber results in more than two years and improvement in both post-paid and prepaid gross subscriber additions in the third quarter,” said Dan Hesse, Sprint Nextel CEO. “Sprint is beginning to attract more customers with the industry’s best device line-up and the clarity and simplicity of our offers, seven sequential quarters of improvement in customer care satisfaction, a network declared to be most reliable by PC World magazine, and recognition from Newsweek magazine which ranked Sprint 15th of 500 companies on its 2009 Green Ratings list -- the only telecom company in the Top 100.
“The company again generated strong cash flow, and while Operating Income Before Depreciation and Amortization* (OIBDA) was impacted by costs associated with growth in customer additions, previous quarters’ subscriber losses and certain seasonal costs in the quarter, Sprint continues to manage costs rigorously. We expect to see sequential quarterly improvement in both post-paid and total net subscriber losses in the fourth quarter of 2009,” Hesse said.
In 2009 Sprint has launched or announced 16 new touch, QWERTY and smart devices with a full selection of operating systems. They include Palm® Pre™ and Palm® Pixi™, Blackberry® Tour™; HTC Hero™ and Samsung Moment™ -- which are both based on Google’s Android™ platform; HTC Touch Pro 2, Samsung Instinct® HD, and Samsung IntrepidTM, which offers the new Windows Mobile® 6.5 Professional operating system. In addition, Sprint launched the nation’s first full-featured, eco-friendly phone, Samsung Reclaim™ which earlier this month was given the “Hottest in Show” award at the CTIA Convention in San Diego.
Additionally, Sprint 4G is now available in 17 markets, including Philadelphia, PA, which launched earlier this week. Sprint 4G coverage should serve a population of more than 30 million people by the end of 2009, and cover a population of up to 120 million people in about 80 markets by the end of 2010. Sprint 4G service is planned for deployment in these additional markets in 2009: Austin, TX; Charlotte, NC; Chicago, IL; Dallas/Ft. Worth, TX; Greensboro, NC; Honolulu, HI; Maui, HI; Raleigh, NC; San Antonio, TX; and Seattle, WA.
Click to read full press release
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