While Sprint Nextel did post some very positive financial results with over $9.1 billion in revenues. The 38.4% increase in adjusted OIBDA for wireless was a new record high, and net debt of $19.9 billion.
But with only 233,000 new subscribers on the CDMA side, and iDEN losing customers because of rebanding/capacity and credit tightening issues on both Nextel and Boost. This is better news than expected by most industry analysts who were predicting a net loss of customers in the 3rd quarter.
Some of the highlights from the conference call are….
� Over 1600 cell sites have been added to the iDEN network this year.
� 2400 cell cites have been added to the CDMA network this year, with a total of 8000 new sites by the end of 2008.
� Phase 1 of the rebanding process is on schedule and on budget, Phase 2 however may take longer than anticipated.
� Sprint Nextel closed 255 retail stores in the 3rd Quarter.
� The CDMA network is being expanded rapidly to match the iDEN network so EVDO will be available everywhere iDEN coverage is.
� When asked about the launch of Q-CHAT and if the entire CDMA network will be upgraded to EVDO rev. A including affiliate markets, Gary Forseee responded that Q-CHAT may launch “without every POP being covered at Q-CHAT’s launch”.
� As far as affiliates are concerned (iPCS was mentioned specifically)…Gary Forsee had this to say..there currently are “no plans or activity to change the status of iPCS”.
� Late 1st or early 2nd quarter of 2007 is when the Hybrid phones with EVDO will launch.
To listen to a replay of the conference call dial…1-800-642-1687, enter code 8563029
