View S Q2 Earnings Report

Highlights:

• Reported consolidated net operating revenues of $8.3 billion, operating income of $79 million and Adjusted OIBDA of $1.3 billion. Additionally, the company reported a net loss of $847 million and a diluted loss per share of 28 cents for the quarter, which includes $588 million in equity losses of unconsolidated investments and other ($.20 per share net of tax, which includes the effect of increased valuation allowance of $209 million) and a $52 million charge ($.02 per share, which includes approximately $19 million of related increase in valuation allowance) to tax expense related to recently enacted state law changes in the state of Michigan.
  
• Added nearly 1.1 million total net wireless subscribers primarily driven by net prepaid subscriber additions of 674,000, net wholesale and affiliate subscriber additions of 519,000 and net postpaid subscriber additions of 275,000 for the Sprint brand.
• Achieved its best ever postpaid churn of 1.75 percent and the lowest prepaid churn in almost six years at 4.14 percent.
• Unbeaten among major wireless carriers for customer satisfaction according to results from the 2011 American Customer Satisfaction Index.
• As of June 30, 2011, the company's total liquidity was $5.2 billion, which consists of $4.3 billion in cash, cash equivalents and short-term investments and $900 million of borrowing capacity available under its revolving bank credit facility. The company's next scheduled debt maturities of $2.3 billion are due in March 2012.

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