Sprint - News

Ticker Symbol: S

Sprint News - Past

Financial reports for Sprint Nextel earnings in the first quarter of 2009 were less than impressive. Net operating revenues were reported at $8.2 billion although the company reported a diluted loss of $.21/share. This could have been somewhat affected by the $327 million paid by the company in exit costs and severance packages for employees who had been let go in January 2009. Although the financial reports left much to be desired, Spring Nextel did manage to generate enough cash to cover all debts and obligations.

The company fared slightly better in terms of its customer retention. The company worked to reverse the pattern of decreasing subscriber numbers, improving upon their past losses by over 1 million. Additionally, they netted a loss of only 182,000 wireless customers, supported largely by a gain of 764,000 prepaid iDEN customers and 394,000 subscribers. As noted by CEO Dan Hesse, Sprint Nextel achieved one of its main goals this quarter by reducing churn against the previous year.

Sprint News - Upcoming

When looking ahead to the rest of 2009, Sprint Nextel anticipates that losses among their prepaid and post-paid subscribers should improve. The company also expects to generate a positive level of free cash flow to keep standard business practices functioning. They predict that this will be achieved through the growth of their Boost Monthly Unlimited service. They are also planning to launch the Palm Pre Smartphone in June, along with several other new devices throughout the rest of 2009 in hopes of reinvigorating the brand image.

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