Alltel adds one million gross wireless customers in the second quarter
LITTLE ROCK, Ark.– Alltel achieved strong customer growth in the second quarter, adding more than 1 million gross customers for the third consecutive quarter. Net customer additions increased 76 percent year-over-year.
“The Alltel team had another great quarter, and I continue to be proud of the dedication and focus they demonstrate on a daily basis,” said President and Chief Executive Officer Scott Ford. “We’re having a terrific year as evidenced by our strong customer additions and consolidated EBITDA.”
Alltel announced plans on June 5 to be acquired by Verizon Wireless. The deal, which requires regulatory approval, is expected to close by year’s end.
Among Alltel’s highlights for the second quarter:
Revenues were $2.39 billion, a 10 percent increase from the same period a year ago. The company reported a loss of $69.9 million, due primarily to significant increases in interest costs and depreciation and amortization expense following the completion of the company’s November 2007 merger with an affiliate of TPG Capital and GS Capital Partners.
Alltel added more than 1 million gross customers through internal growth, a 37 percent increase from a year ago. Post-pay net additions were 217,047, up 20 percent year-over-year, and prepay net adds were 99,089. Reseller net adds were 3,551. Total net adds were 319,687.
Post-pay churn was 1.21 percent, and total churn was 1.92 percent.
Average revenue per wireless customers (ARPU) was $54.42, up 1 percent from last year. Data revenue per wireless customer was $8.18, up 45 percent year-over-year.
* Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) was $898.3 million, a 15 percent increase from the same period a year ago.
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