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Alltel Reports Combined Wireless, Wireline Results for the Final Time; Company Produ

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

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  1. Ironwalt

    Ironwalt Junior Member
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    LITTLE ROCK, Ark.--(BUSINESS WIRE)--Aug. 2, 2006--Alltel (NYSE:AT)
    produced double-digit wireless revenue and segment income growth in
    the second quarter on top of strong wireless customer additions.
    Alltel reported fully diluted earnings per share under Generally
    Accepted Accounting Principles (GAAP) of $1.10, which includes several
    one-time items and wireless intangible amortization. Excluding these
    items, fully diluted earnings per share from current businesses was 93
    cents. This is the final quarter Alltel will report results for the
    wireline business, which now is part of the operations of Little
    Rock-based Windstream Corp.

    "Our company has completed the spinoff of our wireline business
    and the sale of all of our international assets, important steps in
    the transformation of Alltel," said Alltel President and CEO Scott
    Ford. "Alltel's wireless growth in the second quarter was driven by
    continuing efforts to expand market share and focus on delivering
    superior customer satisfaction, which is reflected in a new six-year
    low in churn. At the same time, Alltel is pushing ahead with key
    financial goals, including a $3 billion stock repurchase and a $1
    billion debt reduction plan."

    Among the combined highlights for the second quarter:

    -- Total revenues were $2.7 billion, an 18 percent increase from
    a year ago. Net income under GAAP was $429 million, up 7
    percent. Net income from current businesses was $365 million,
    a 24 percent increase from a year ago.

    -- Wireless revenue was $1.9 billion, a 28 percent increase from
    a year ago. Service revenue was $1.7 billion, a 26 percent
    increase. Segment income was $392 million, a 22 percent
    increase.

    -- Alltel added 146,000 net new wireless customers, which
    includes 124,000 post-pay customers and 22,000 prepay
    customers. In addition, the company added 112,000 net new
    customers through acquisitions of First Cellular in Southern
    Illinois and Virginia Cellular. Post-pay churn was 1.47
    percent, a 7 percent improvement from a year ago.

    -- Average revenue per wireless customer (ARPU) was $52.54, a 4
    percent increase. Data revenue per customer was $3.26, a 61
    percent increase, and now represents more than 6 percent of
    total ARPU.

    -- Wireline revenue was $581 million, down 2 percent from the
    previous year. Segment income was $235 million, up 9 percent
    from a year ago. The wireline business added 40,000 net
    broadband customers.

    -- Equity free cash flow from current businesses was $336
    million, a 32 percent increase. Net cash provided from
    operations was $431 million.

    This quarter the company also is reporting pro-forma results for
    the new, all-wireless Alltel. These pro-forma results present Alltel
    as if both the spinoff of the wireline business and the acquisition of
    Western Wireless had occurred on Jan. 1, 2005. The results include the
    wireless business, the communications support services retained by the
    company after the spinoff and the operations of Western Wireless.

    On a pro-forma basis, revenues were $1.95 billion, up 9 percent,
    and operating income was $389 million, a 6 percent increase.

    Alltel began the quarter by launching "My Circle," an exclusive
    feature that gives customers the ability to select up to 10 numbers
    they can call for free. Customers on select rate plans can choose any
    combination of wireless, home and office numbers located anywhere in
    the U.S., regardless of local phone company or wireless carrier.

    Also in the quarter, Alltel signed a 10-year, voice and data
    roaming agreement with Sprint that became effective July 1, expanding
    Alltel's high-speed data network nationwide. In addition, Alltel
    extended for two years, through 2012, its roaming agreement with
    Cingular Wireless.

    Alltel operates America's largest wireless network, which delivers
    voice and advanced data services nationwide to more than 11 million
    customers. Headquartered in Little Rock, Arkansas, Alltel is a Forbes
    500 company with annual revenues of $8 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) adverse changes in economic
    conditions in the markets served by Alltel; 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 pending
    acquisition of Midwest Wireless; 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 uncertainties
    related to Alltel's strategic investments; 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.

    Alltel, NYSE: AT

    www.alltel.com
     
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  2. zdoyle35

    zdoyle35 Junior Member
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    Re: Alltel Reports Combined Wireless, Wireline Results for the Final Time; Company Pr

    hey i know ths is a little off topic iron walt but what do you make of this verizon alltel deal ?
    i love alltel but i'd have to say i am not very optimistic that we can keep my circle, and all i can think is at my bill will go up.
     
  3. KyleAndMelissa22

    KyleAndMelissa22 Woot Woot, Splat !!!
    Senior Member

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    Re: Alltel Reports Combined Wireless, Wireline Results for the Final Time; Company Pr

    This is a two year old article?
    No, this thread is 2 years old, I didn't see that at first I just got stuck reading it, LOL.


    This discussion is already in these threads:
    http://forums.wirelessadvisor.com/alltel-users/70178-future-of-verizon-alltel-combined-company.html
    http://forums.wirelessadvisor.com/wireless-news/70087-verizon-buy-alltel-28-1-billion.html
     
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