Press Release posted by Michelle Ruhfass on Tuesday October 30, 2012.
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DALLAS, Oct. 30, 2012 /PRNewswire/ -- MetroPCS Communications, Inc. (NYSE: PCS), 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 September 30, 2012. MetroPCS reported quarterly Adjusted EBITDA of $466 million for the third quarter 2012 and ended the quarter with approximately 9.0 million subscribers.
Roger D. Linquist, Chairman and Chief Executive Officer of MetroPCS, said, "With a primary focus on generating Adjusted EBITDA and cash flow during the third quarter, we are pleased to report the highest Adjusted EBITDA margin in Company history of 41.5%. Late in the third quarter, we launched 4G LTE For All and while still early, we are pleased with initial results, including customer upgrades and churn. As we enter the fourth quarter, our 4G LTE For All efforts are in full-swing and with over one million 4G LTE subscribers at the end of the third quarter, we believe we are well positioned to meet the current demands for high-speed wireless broadband service. During the fourth quarter, we plan to focus on re-energizing subscriber growth, which we expect will put incremental pressure on our CPGA and CPU. With a robust 4G LTE handset line-up that is growing, we believe our 4G LTE For All initiative provides unmatched value, with all taxes and regulatory fees included.
"Our recently announced proposed business combination with T-Mobile is exciting as it will create a value leader in wireless with a clear path to offering 4G LTE service over 20x20MHz. It also provides MetroPCS customers with broader network coverage and deeper spectrum as well as the ability to gain full access to a broad array of handsets and services. We plan to continue to challenge the wireless market and compete aggressively with our 4G LTE For All service offerings," Linquist concluded.
Michelle is MobileBurn.com's Managing Editor, and is responsible for sourcing devices for reviews.