- 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.
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