View S Q3 Earnings Report

Highlights:

• Reported operating income of $208 million, a net loss of $301 million and a diluted loss of $.10 per share for the quarter, which includes $261 million in equity losses of unconsolidated investments and other. This compares to an operating loss of $213 million, a net loss of $911 million and a diluted loss of $.30 per share, which included $284 million in equity losses of unconsolidated investments and other in the third quarter of 2010.
• Achieved its best total company wireless net subscriber additions in more than five years. Added nearly 1.3 million total net wireless subscribers, primarily driven by 304,000 net postpaid additions for the Sprint brand, net prepaid additions of 485,000 and net wholesale and affiliate additions of 835,000.
• Growth in Sprint brand net additions was achieved without the benefit of Apple’s iPhone 4S and iPhone 4, which launched Oct. 14. The launch of this iconic device resulted in Sprint’s best ever day of sales in retail, web and telesales for a device family in Sprint history. The response to this device by current and new customers has surpassed initial expectations. The iPhone is expected to be accretive for Sprint, and iPhone users are expected to be among Sprint’s most profitable customers.
• Ranked highest by J.D. Power and Associates among full-service providers in a tie in its 2011 Wireless Purchase Experience Study, Volume 2. The study also found Sprint led the industry in its website buying experience. Boost Mobile was ranked by J.D. Power and Associates as highest in the Wireless Purchase Experience Study, Volume 2 as well as highest in 2011 Wireless Customer Care Performance, Volume 2 with Non-Contract Service. Additionally, Sprint earned the No. 3 spot among the largest U.S. companies on Newsweek's 2011 Green Rankings. This is the second straight year that Sprint has ranked in the top 10, up from No. 6 last year.
• Launched three additional 4G phones - Samsung Conquer^TM 4G, Motorola PHOTON^TM 4G and the first Samsung Galaxy S^TM II product available in the U.S., Samsung Galaxy S^TM II, Epic^TM 4G Touch.
• As of Sept. 30, 2011, the company's total liquidity was approximately $5 billion, consisting of $4 billion in cash, cash equivalents and short-term investments and $1 billion of undrawn 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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