SPRINT PCS ADDING 700,000 NEW SUBSCRIBERS IN Q1!!!!!!!!!!!!!!!!!!!!!!March 15, 3:28 pm Eastern Time
Sprint PCS sees up to 700,000 new Q1 subscribers
NEW YORK, March 15 (Reuters) - Wireless phone company Sprint PCS (NYSE:PCS - news) said it is comfortable with Wall Street forecasts that it will add between 650,000-700,000 net new subscribers in the first quarter.
Sprint PCS also expects its 1999 average revenue per subscriber to decline slightly compared with the $55 average revenue seen in 1998.
''We expect a couple-dollar decline, but it will not go below $50 this year,'' Sprint PCS chief executive Andrew Sukawaty said Monday at the Merrill Lynch Telecommunications CEO Conference in New York.
Sprint PCS aims to trim its costs per gross subscriber addition by 20 percent in 1999 and 2000 and expects to reduce its customer turnover, or churn, by 20 percent in 1999 and 2000.
Sprint PCS reiterated it expects to reach EBITDA (earnings before interest, taxes, depreciation and amortization) breakeven in late 2000 and be EBITDA positive in 2001.
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