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Alltel achieves record customer growth for the fourth quarter, full year

Discussion in 'Alltel Forum' started by Shockwave13, Mar 20, 2008.

  1. Shockwave13

    Shockwave13 Junior Member
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    Alltel achieves record customer growth for the fourth quarter, full year

    (Source: Alltel.com Corp Info)


    March 20, 2008

    Download financial highlights (requires Adobe Acrobat Reader)

    LITTLE ROCK, Ark. - Alltel achieved record customer growth in the fourth quarter and for the full year, with the company adding more than 1 million gross customers for the first time in a quarter. Alltel also achieved records in total net customer additions and post-pay net adds in the fourth quarter, boosted by improvements in customer churn for the eighth consecutive quarter.

    In 2007, Alltel completed its merger with an affiliate of TPG Capital and GS Capital Partners and ceased trading on the New York Stock Exchange.

    “While Alltel’s ownership has changed, our focus remains the same – continuing to strike the balance between growing value for our shareholders over the long-term while continuing to provide outstanding service for our customers,” said President and Chief Executive Officer Scott Ford.

    Among the highlights for the fourth quarter:


    Revenues were $2.3 billion, a 9 percent increase from the same period a year ago. The company reported a net loss of $525 million, due primarily to $619 million of pre-tax costs associated with the merger.


    Alltel added just over 1 million gross customers through internal growth, a 14 percent increase from a year ago. Internal net additions were 342,684, a 50 percent increase from a year ago. Post-pay churn was 1.34 percent and total churn was 1.81 percent, year-over-year improvements for the eighth consecutive quarter.


    Average revenue per wireless customer (ARPU) was $54.59, up 3 percent from last year. Data revenue per customer reached a new high of $6.74, a 63 percent increase year-over-year.


    Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $767 million, a 9 percent increase from the same period a year ago.

    A table describing adjusted EBITDA and reconciled net income to adjusted EBITDA is included in the schedules accompanying this release.

    Among the highlights for the year:


    Revenues were $8.8 billion, a 12 percent increase from 2006 and a new record for the wireless business. Net income was $183 million, which includes the impact of $653 million of pre-tax merger-related costs.


    Alltel added 3.6 million gross customers through internal growth, a 9 percent increase from 2006. Net customer additions through internal growth were 965,831, a 51 percent increase from the previous year. Post-pay churn was 1.28 percent and total churn was 1.79 percent, both improvements from the previous year.


    ARPU was $54.30, up 3 percent from 2006. Data revenue per customer was $5.87, a 67 percent increase from the previous year.


    Adjusted EBITDA was $3.1 billion, a 12 percent increase.

    Alltel operates America’s largest wireless network, which delivers voice and advanced data services nationwide to more than 12 million customers. Headquartered in Little Rock, Ark., Alltel is a Forbes 500 company with annual revenues of nearly $9 billion.

    Alltel claims the protection of the safe-harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events and results. Actual future events and results may differ materially from those expressed in these forward-looking statements as a result of a number of important factors. Representative examples of these factors include (without limitation) the extent, timing, and overall effects of competition in the communications business; material changes in the communications industry generally that could adversely affect vendor relationships with equipment and network suppliers and customer relationships with wholesale customers; changes in communications technology; the risks associated with the integration of acquired businesses; adverse changes in the terms and conditions of the wireless roaming agreements of Alltel; the potential for adverse changes in the ratings given to Alltel's debt securities by nationally accredited ratings organizations; the effects of litigation; and the effects of federal and state legislation, rules, and regulations governing the communications industry. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes.

    For more information, contact:

    Andrew Moreau 501-905-7962
    Vice President – Corporate Communications
    Alltel Wireless
    andrew.moreau@alltel.com

    Tim Hicks 501-905-8991
    Assistant Treasurer
    Alltel Wireless
    alltel.investor.relations@alltel.com
     
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  2. UFO

    UFO Bronze Senior Member
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    Hmm... I wander if they'll continue to release quarterly reports now that they're privately held? I'm sort of surprised they released this one.
     
  3. bikebryan

    bikebryan Senior Member
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    They HAD to release the 4th quarter report; they were still a publicly held company up until AFTER the 4th quarter started.
     
  4. MasterC

    MasterC Junior Member
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    Alltel has been growing and has been entering rural areas and dominating them.

    Should be good to see what happens in about a year or two.
     

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