Subject: [NEXTEL-1] Nextel profits slip, subscribers near 13 million

From: Marcelrf <[email-masked]>
Date: Thu, 19 Feb 2004 13:55:26 -0500

12:55 PM EST Thursday

Nextel profits slip, subscribers near 13 million

Jeff Clabaugh
Staff Reporter

Despite lower quarterly profits compared to a year ago, Reston-based
Nextel Communications reports sharply higher revenue and more
subscribers to its wireless network.

Nextel, ranked as the nation's fifth-largest wireless carrier, had net
income of $640 million last quarter compared to $1.47 billion in the
same quarter a year ago. Last year's fourth quarter included one time
gains from its sale of NII Holdings, its international division. Minus
that, and other one-time charges, the company says its profits more than
doubled those of the same period a year earlier.

Sales for the quarter reached $3 billion, up 29 percent from the same
quarter a year ago.

The company says it added 553,000 subscribers in the final quarter of
the year and a total of 2.3 million subscribers for all of 2003,
brining its total subscriber base to 12.9 million. It expects to add 1.8
million additional subscribers this year.

Nextel, which has been profitable for seven straight quarters now, also
continued to pay off debt. The company says it retired $7.8 billion
in debt and preferred stock in 2003 and issued $4.7 billion in new lower
cost debt, for a net debt reduction of about $3.1 billion.

http://washington.bizjournals.com/washington/stories/2004/02/16/daily24.html

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