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Aug. 15, 2008

Late yesterday, Alltel said it lost close to $70 million in its second fiscal quarter, with revenue up slightly to almost $2.4 billion.

But Alltel's losses were $125 million in the first quarter, so the company’s overall situation is improving nevertheless.

Alltel CEO Scott Ford said “we’re having a great year as evidenced by our strong customer additions and consolidated EBITDA.”

Alltel is now being acquired again, this time by Verizon Wireless in a deal worth $28.1 billion total and $5.9 billion in equity.

The current losses are “due primarily to significant increases in interest costs and depreciation and amortization expense” after being acquired by TPG Capital and Goldman Sachs Capital Partners in a deal worth $27.5 billion in 2007, officials said.

Alltel had post-paid churn of 1.21 percent and total churn of 1.92 percent for the quarter.

ARPU came in at $54.42 and data ARPU was pegged at $8.18.

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Source: Alltel.