First Quarter 2012 Highlights Include:
Quarterly consolidated total revenues of approximately $1.3 billion, an increase of 7% over the first quarter of 2011
Quarterly service revenue of approximately $1.2 billion, an increase of 10% over the first quarter of 2011
Adjusted EBITDA of $262 million, a decrease of 8% over the first quarter of 2011
Quarterly churn of 3.1%, down 60 basis points from the fourth quarter of 2011 and flat when compared to the first quarter of 2011
Quarterly net subscriber additions of 132 thousand, resulting in a 7% increase in total subscribers over the prior twelve month period
Quarterly ARPU of $40.56, an increase of $0.14 over first quarter 2011
Surpassed 580 thousand 4G LTE subscribers, representing over 6% of total subscribers
MetroPCS Communications, Inc. (NYSE: PCS - News), the nation’s leading provider of no annual contract, unlimited, flat-rate wireless communications service, today announced financial and operational results for the quarter ended March 31, 2012. MetroPCS reported quarterly Adjusted EBITDA of $262 million for the first quarter 2012 and ended the quarter with approximately 9.5 million subscribers.
Roger D. Linquist, Chairman and Chief Executive Officer of MetroPCS, said, “Our first quarter results highlight our continued focus on getting affordable 4G LTE smartphones into the hands of our customers. We upgraded 16% of our subscriber base, 40% of which went from a feature phone to a smartphone, and we reported churn of 3.1%, matching the all-time low for the Company. However, the significant number of upgrades at a higher promotional handset cost during the quarter resulted in higher costs and as a result both Adjusted EBITDA and Adjusted EBITDA margins were pressured significantly.
“The wireless industry is rapidly moving towards 4G LTE and while the first quarter presented us with challenges, we believe we remain well-positioned for long-term growth and success. In wireless, speed does matter and our 4G LTE network will provide a significant enhancement in the customer experience when compared to our current 3G CDMA experience. Our service plans offer the predictability, affordability and flexibility our customers have come to expect, and with all taxes and regulatory fees included, and no contract, we believe we continue to offer the best deal in town,” Linquist concluded.