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May 16, 2008

Alltel Wireless said yesterday it has achieved record customer growth in the first quarter of 2008.

Alltel said it added more than 1 million customers for the second consecutive quarter of this year.

Additionally, net "new" customer increases also hit a new high, with a 63.1 percent increase year-over-year.

Alltel President and CEO Scott Ford said “overall, we are very pleased with our results across the board, and I am extremely proud of our team for staying very focused in our first full quarter under new ownership.”

“We are off to a strong start for 2008, with consolidated EBITDA up 18 percent year-over-year,” added Ford.

Post-pay net customer additions were 163,000, up 50 percent year-over-year, pre-pay net additions were 183,000 and reseller net adds were 39,000, an all-time high for total net additions.

Other highlights for the first quarter include earnings of $2.3 billion, an 11 percent increase from the same period in 2007.

Alltel also reported a net loss of $125 million, due to increases in interest costs, depreciation and amortization expense following the completion of the merger.

Overall, Alltel reported average revenue per wireless customer of $53.64, up slightly over 2 percent from 2007's levels, while data revenues per customer reached a new high of $7.50, up 60.2 percent year-over-year.

"Post-pay churn" remained flat year-over-year at 1.35 percent, and total churn was 1.83 percent, up 6 basis points year-over-year.

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Source: Alltel Wireless.