|Sprint Sees Continued Strong Demand for Wireless Services|
Posted: 06-Apr-2001 [Source: Sprint press release]
[Over 1 million new net PCS users added during the first quarter of 2001.]
Kansas City, Mo. -- In response to recent concerns regarding growth in the wireless industry, Sprint (NYSE: FON - news, PCS - news) announced today that it is continuing to see strong demand for wireless services and customer additions in the first quarter were substantially ahead of financial analysts' expectations.
In total, more than 1 million new net PCS users were added in the first quarter of this year. Specifically, the Sprint PCS Group added more than 800,000 direct customers and approximately 50,000 resale customers. In the first quarter 2001, Sprint PCS affiliates also had very strong growth.
The stronger than expected growth is a result of both continuing strong gains in new acquisitions and improving customer retention. In the first quarter Sprint PCS also made significant progress on other key financial metrics and expects to report a strong gain in EBITDA.
In addition to strong operating performance in the first quarter, Sprint PCS continued to move ahead on its goal of becoming the leading provider of advanced, high-speed wireless data services with the announcement of its migration strategy to third-generation (3G) services. Supported by ample spectrum for at least for the next decade, Sprint PCS will begin to deploy these services in the second half of this year, well ahead of its competitors and at a fraction of the cost. Sprint PCS is scheduled to release its full first quarter earnings report on April 17.
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