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NTELOS Holdings Corp. Reports
Fourth Quarter and Year-End 2013 Results
Reports Full Year Retail Revenue of $317.1 million, up 11% from 2012
Reports Year End Subscribers of 464,600, up 6% from 2012
Completes Refinancing of Term A Loans in January
Declares Quarterly Dividend of $0.42 Per Share
WAYNESBORO, Va. February 27, 2014 NTELOS Holdings Corp. (the Company, NASDAQ: NTLS), a leading regional provider of nationwide wireless voice and data communications and home to the best value in wireless, announced today operating and financial results for its fourth quarter and year ended December 31, 2013. These results supplement the preliminary information released on January 14, 2014.
|||Operating revenues increased 4% to $121.8 million for the fourth quarter 2013, compared to $117.4 million for the fourth quarter 2012. Operating revenues for the year 2013 increased 8% to $491.9 million, compared to $454.0 million for the year 2012;|
|||Retail revenues, which include subscriber and equipment revenue, increased 8% to $80.8 million for the fourth quarter 2013, compared to $75.1 million for the fourth quarter 2012. Retail revenues for the year 2013 increased 11% to $317.1 million, compared to $285.1 million for the year 2012;|
|||Wholesale and other revenues derived primarily from the Companys Strategic Network Alliance with Sprint were $41.0 million for the fourth quarter 2013, compared to $42.2 million for the fourth quarter 2012. Wholesale and other revenues for the year 2013 were $174.8 million (inclusive of $9.0 million related to the Sprint settlement), compared to $168.9 million for the year 2012; and|
|||Adjusted EBITDA was $26.7 million for the fourth quarter 2013, compared to $33.0 million for the fourth quarter 2012. Adjusted EBITDA for the year 2013 was $150.9 million (inclusive of $9.6 million related to the Sprint settlement), up 12% from $134.7 million for the year 2012.|
During the fourth quarter, we continued to execute on our retail/wholesale strategy. Our operating results reflect the continued strength of our service offerings, resulting in the tenth consecutive quarter of positive net ports and an ending subscriber base approximately 6% above year ago levels, said James A. Hyde, CEO of NTELOS Holdings Corp. This performance in our retail business enabled us to post a third consecutive year of strong growth in operating revenues.
Subscriber Highlights (previously released on January 14, 2014)
|||Total subscribers were 464,600 as of December 31, 2013, compared to 439,600 for the same period of 2012;|
The following information was filed by Ntelos Holdings Corp. (NTLS) on Thursday, February 27, 2014 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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