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Alltel double-digit growth

Discussion in 'Alltel Forum' started by Ironwalt, May 3, 2006.

  1. Ironwalt

    Ironwalt Junior Member
    Junior Member Senior Member

    Nov 28, 2005
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    NLR, Arkansas
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    Title: Alltel produces double-digit revenue growth in first quarter; Company adds 165,000 net new wireless customers, reduces churn rate
    Date: 5/3/2006 7:09:00 AM

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    LITTLE ROCK, Ark.--(BUSINESS WIRE)--May 3, 2006--Alltel (NYSE:AT)
    produced double-digit revenue growth, strong wireless customer net
    additions and record broadband wireline customer growth in the first
    quarter. Alltel reported fully diluted earnings per share under
    Generally Accepted Accounting Principles (GAAP) of 77 cents, which
    includes a net gain in discontinued operations and expenses related to
    the integration of Western Wireless properties and the pending
    wireline separation. Excluding the one-time items, fully diluted
    earnings per share from current businesses was 82 cents. Results from
    current businesses also now exclude the effects of non-cash
    amortization related to the company's previous wireless acquisitions,
    which was 7 cents in the quarter.

    "We are very pleased with the performance of the wireless business
    and are encouraged by the opportunities we see going forward," said
    Alltel President and CEO Scott Ford. "The wireless growth in this
    quarter was fueled by strong customer growth and a continued focus on
    reducing churn. We made progress on several strategic goals, including
    remaining on track to complete the spin-merge of our wireline business
    with VALOR Communications Group by mid-year."

    Among other highlights for the first quarter:

    -- Total revenues were $2.5 billion, a 19 percent increase from a
    year ago. Net income under GAAP was $297 million, down 5
    percent. Net income from current businesses was $320 million,
    a 21 percent increase from a year ago.

    -- Wireless revenue was $1.8 billion, a 30 percent increase from
    a year ago. Service revenue was $1.64 billion, a 29 percent
    increase. Segment income was $356 million, a 25 percent

    -- Alltel added 165,000 net new wireless customers. Average
    revenue per wireless customer (ARPU) was $50.90, a 4
    percent increase. Data revenue per customer was $2.86, a 59
    percent increase, and now represents more than 5 percent of
    total ARPU. Post-pay churn improved to 1.66 percent from 1.72
    percent a year ago.

    -- Wireline revenue was $575 million, down 3 percent from the
    previous year. Segment income was $227 million, up 6 percent
    from a year ago. The company added a record 44,000 broadband
    customers, bringing its total broadband customer base to
    441,000, a penetration rate of 15 percent of total access
    lines. Feature revenue per eligible line increased 2 percent,
    and total average revenue per wireline customer was $66.77, a
    1 percent increase.

    -- Equity free cash flow from current businesses was $504
    million, a 49 percent increase. Net cash provided from
    operations was $733 million.

    Alltel is a customer-focused communications company with more than
    15 million customers in 36 states and nearly $10 billion in annual
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