Sprint PCS Sees Revenue Growth Up 30
Pct.
KANSAS CITY, Mo. (Reuters) - Wireless communications company
Sprint PCS Group (NYSE:PCS - news) on Tuesday said it sees fourth
quarter total revenues at about $2.7 to $2.8 billion, and predicts 2002 sales
could grow by more than 30 percent to $13 billion, driven by gains in
subscribers.
``Revenue growth is expected to continue to be driven by strong gains in
the customer base and strong average customer revenue,'' said Kansas City, Missouri-based Sprint, the
No. 4 U.S. wireless provider.
Full year revenues are expected to grow more than 50 percent in 2001 to about $9.7 billion to $9.8 billion.
Sprint said it sees 2002 earnings before interest, taxes, depreciation and amortization (EBITDA) in a
range of $3.0 to $3.1 billion, driven by a growing customer base. The company reiterated its 2001
EBITDA forecast of $1.6 billion.
Sprint said its 2001 target for net customer additions is about 4.2 million, with its 2002 target now at 3.6
million to 3.7 million net customer additions. Churn, or the rate at which subscribers leave the service, is
expected to be around 3 percent for fourth quarter 2001, and in the upper 2-percent range for the full
year of 2002.
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