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MetroPCS Pre-Releases Third Quarter 2007 Subscriber Results
DALLAS--(BUSINESS WIRE)--MetroPCS Communications, Inc. (NYSE: PCS - News), the nation's leading provider of unlimited wireless communications service for a flat rate with no signed contract, announced today selected subscriber information for the quarter ended September 30, 2007.
In the third quarter of 2007, on a consolidated basis, MetroPCS reported gross additions of approximately 671,000 subscribers, which represents an increase of 16.6% over the third quarter of 2006 and an increase of 1.7% over the second quarter of 2007. Churn for the seasonally higher third quarter of 2007 increased to 5.2%, which represents an increase of 0.2% over the third quarter of 2006 and an increase of 0.4% over the second quarter of 2007. MetroPCS ended the third quarter of 2007 with approximately 3.66 million subscribers, which includes net additions during the quarter of approximately 114,000 subscribers. For the twelve months ended September 30, 2007, MetroPCS has added over 1 million subscribers, representing growth of approximately 40% as compared to subscribers as of September 30, 2006. The late third quarter launch of service in Los Angeles did not have a significant impact on third quarter 2007 subscriber results given that marketing and distribution efforts will not fully ramp up until the fourth quarter of 2007.
"Driven by our compelling value proposition and strong demand for our service, we have more than doubled our customer base in the last two years and currently serve over 3.66 million subscribers. With licenses or access to licenses in 14 of the top 25 largest metropolitan areas in the country, we look forward to continued customer growth," said Roger D. Linquist, MetroPCS' Chairman of the Board and Chief Executive Officer. "Our recent launch of service in Los Angeles and planned launches of service in New York, Philadelphia and Boston in late 2008 or early 2009 represent a significant future source of growth for MetroPCS. The fourth and first calendar quarters of a year have always represented our strongest seasonal sales period, historically accounting for approximately 70% of our annual Core Market net additions, and we believe we are well positioned in Los Angeles for this seasonal window. As we continue to launch new markets, we expect our customer growth to continue within the fast-growing wireless industry."
