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MetroPCS Releases Third Quarter 2008 Subscriber Results
MetroPCS Communications, Inc. (NYSE: PCS), the nation’s leading provider of unlimited wireless communications service for a flat-rate with no signed contract, today announced selected subscriber information for the quarter ended September 30, 2008.
In the third quarter of 2008, on a consolidated basis, MetroPCS reported gross additions of approximately 935 thousand subscribers, which represents an increase of 39% over the third quarter of 2007. Churn for the third quarter of 2008 decreased 0.4% when compared to the third quarter of 2007, and consistent with seasonal patterns, increased 0.3% to 4.8% when compared to the second quarter of 2008. MetroPCS ended the third quarter of 2008 with approximately 4.8 million subscribers, which includes net additions during the quarter of approximately 249 thousand subscribers. MetroPCS has added approximately 1.2 million subscribers during the twelve month period ended September 30, 2008, and continued to achieve incremental penetration in every Core and Expansion market.
“We are pleased to report 249 thousand net additions during a particularly challenging economic environment and in what has historically been our seasonally slowest quarter. Clearly, these results demonstrate the resiliency of the MetroPCS business and highlight the value proposition to our subscribers of our predictable, affordable and flexible service offerings,” said Roger D. Linquist, MetroPCS’ Chairman, President and Chief Executive Officer.
“We are excited about the growth potential with our recently signed roaming agreement with Leap Wireless that effectively creates super regional coverage clusters across the country, and from our planned service launches in Boston and New York.”
Subscriber Metrics
| Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | |||||
| September 30, 2008 | September 30, 2007 | September 30, 2008 | September 30, 2007 | |||||
| Consolidated Market Subscribers | ||||||||
| End of Period | 4,847,314 | 3,664,218 | 4,847,314 | 3,664,218 | ||||
| Net Additions | 249,265 | 114,302 | 884,528 | 723,232 | ||||
| Core Market Subscribers | ||||||||
| End of Period | 2,845,732 | 2,578,019 | 2,845,732 | 2,578,019 | ||||
| Net Additions | 30,379 | 35,729 | 186,827 | 277,061 | ||||
| Expansion Market Subscribers | ||||||||
| End of Period | 2,001,582 | 1,086,199 | 2,001,582 | 1,086,199 | ||||
| Net Additions | 218,886 | 78,573 | 697,701 | 446,171 |
The subscriber results of the third quarter of 2008 may not be reflective of subscriber results for any other quarter or fiscal year 2008 nor any subsequent period.
About MetroPCS Communications, Inc.
Dallas-based MetroPCS Communications, Inc. (NYSE: PCS) is a provider of unlimited wireless communications service for a flat-rate with no signed contract. MetroPCS owns or has access to licenses covering a population of approximately 149 million people in 14 of the top 25 largest metropolitan areas in the United States, including New York City, Los Angeles, San Francisco, Dallas, Philadelphia, Atlanta, Detroit, Boston, Miami, Tampa, and Sacramento. MetroPCS ranked "Highest In Customer Satisfaction With Wireless Prepaid Service" in the J.D. Power and Associates third annual Prepaid Customer Satisfaction Study in July of 2008. As of September 30, 2008, MetroPCS had over 4.8 million subscribers and currently offers service in the Atlanta, Dallas, Detroit, Jacksonville, Las Vegas, Los Angeles, Miami, Orlando, Philadelphia, Sacramento, San Francisco, Sarasota and Tampa metropolitan areas. For more information please visit www.metropcs.com.
