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US Cellular Dragged Down by Low Sales – Analyst Blog
Zacks Market Commentaries (November 6th, 2009) Writes:
U.S. Cellular (USM), the wireless subsidiary of Telephone and Data Systems (TDS), reported disappointing third-quarter 2009 results with earnings per share of 41 cents, coming in below the Zacks Consensus Estimate of 57 cents. It also declined significantly from the year-ago EPS of $1.02. Net income plunged 60% year over year to $35.6 million as a result of decreased sales and higher operating costs.
Top-line Hit by Lower Roaming Revenue
The Chicago-based carrier reported operating revenue of $1,058 million, down 3% from $1,092 million a year ago. This decline is attributable to lower service revenue, which decreased 3% year over year to $984.9 million due to a 26% year over year reduction in inbound roaming revenues, primarily resulting from Verizon's (VZ) acquisition of Alltel.
Decline in roaming revenue was offset by healthy data revenue, which grew 34% over the prior-year quarter to $174.3 million, accounting for 18% of service
...Tags for this Post:
3g, 3G wireless broadband network, Alltel;, AT&T, Chicago, EV-DO technology, Investing Lessons, net subscriber addition target, Research-In-Motion, Retail Customers, retail prepaid customer, Stocks to Watch, the Chicago;, USD, Verizon, wireless broadband, wireless handsets, wireless market, Zacks Market Commentaries
3g, 3G wireless broadband network, Alltel;, AT&T, Chicago, EV-DO technology, Investing Lessons, net subscriber addition target, Research-In-Motion, Retail Customers, retail prepaid customer, Stocks to Watch, the Chicago;, USD, Verizon, wireless broadband, wireless handsets, wireless market, Zacks Market Commentaries
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