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NTELOS Holdings Corp. Reports Fourth Quarter
and Year-End 2011 Operating Results
Adjusted EBITDA of $34.0 Million in Q4
Completes Spin-Off of Wireline Business
Declares Quarterly Dividend of $0.42 Per Share
WAYNESBORO, VA February 29, 2012 NTELOS Holdings Corp. (the Company, NASDAQ: NTLS), a leading regional provider of nationwide wireless voice and data communications services with operations in Virginia, West Virginia, and portions of Pennsylvania, Kentucky, Ohio, Maryland and North Carolina, today announced operating results for its fourth quarter and year ended December 31, 2011.
Fourth Quarter Highlights
Sprint wholesale revenues for the fourth quarter 2011 increased almost 30% to $37.9 million compared to $29.2 million for the same period in 2010;
Subscriber churn for the fourth quarter 2011 improved to 3.4% compared to 3.5% for the same period in 2010;
Net subscriber losses for the fourth quarter 2011 were (500) compared to (1,300) for the same period in 2010; and
Data ARPU for the fourth quarter 2011 increased 28% to $17.36 from $13.56 for the same period of 2010.
Fourth quarter results reflect positively on the continued strength of our Sprint wholesale business, combined with quantifiable improvements in our retail operations. I am extremely encouraged by the increased competitiveness of our retail distribution model, which experienced favorable growth of prepay subscribers and a significant reduction in postpaid subscriber net losses during the quarter, especially when compared to the past few quarters, noted James A. Hyde, CEO of NTELOS Holdings Corp.
Highlights from Continued Operations
Operating revenues for the fourth quarter 2011 were $106.0 million, up 3% from the fourth quarter 2010. Operating revenues for the year 2011 were $422.6 million, up 4% compared to the year 2010. The increase in operating revenues in both periods was primarily due to an increase in Sprint wholesale revenues offsetting a decline in retail revenues.
Retail revenues, which includes subscriber and equipment revenues, were $66.3 million for the fourth quarter 2011 compared to $71.5 million for fourth quarter 2010. Retail revenues for the year 2011 were $278.1 million compared to $289.3 million for the year 2010.
Wholesale and Other revenues, primarily driven by the Companys Strategic Network Alliance with Sprint, increased 28% to $39.6 million for the fourth quarter 2011 compared to $31.0 million for the fourth quarter 2010. Wholesale and Other revenues for the year 2011 were $144.5 million, a 23% increase over $117.5 million for the year 2010.
The following information was filed by Ntelos Holdings Corp. (NTLS) on Wednesday, February 29, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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