Cingular Wireless Posts Solid First-Quarter Results:
- Apr 20, 2005 06:00 AM (PR Newswire)
-- Net subscriber additions of more than 1.4 million
-- 50.4 million subscribers at quarter's end
-- Gross subscriber additions of 4.8 million
-- Monthly subscriber churn of 2.2 percent overall and 1.9 percent in
postpaid
-- 210 basis-point sequential improvement in normalized OIBDA margin
-- Continued progress in GSM conversion, with 84 percent of minutes now
on Cingular's GSM network
-- Integration initiatives continue on schedule
ATLANTA, April 20 /PRNewswire/ -- Cingular Wireless, the nation's largest
wireless provider, today posted solid first-quarter results driven by
continued strong subscriber growth, improved churn and sequential margins, and
strength in data and enterprise services.
Cingular delivered net subscriber additions of more than 1.4 million and
ended the first quarter with 50.4 million subscribers.
Gross additions were nearly 4.8 million while churn was 2.2 percent -- a
sequential improvement of 20 basis points. In addition, OIBDA margin --
normalized to exclude direct merger integration costs --increased to 25.5
percent, which is a sequential improvement of 210 basis points. ("Pro forma"
results reflect the acquisition of AT&T Wireless, plus related acquisitions
and dispositions, as if they had occurred on January 1, 2003.)
...
- http://finance.lycos.com/home/news/story.asp?story=48492342
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