By Anastasia Tomazhenkova: Low-cost mobile phone service provider MetroPCS Communications Inc posted a fourth-quarter 47 million dollars loss as the company took a charge on investments that lost value.
The company said it made a fourth-quarter net loss of 47 million dollars, or 14 cents per share, compared with a loss of 17 million dollars, or 15 cents per share in the same quarter a year ago. Revenue rose 31% to 591 million dollars from 453 million dollars.
The number of shares outstanding for the latest quarter more than doubled.
In addition, the latest quarter includes a charge of 83 million dollars for unrealized losses related to the investment in auction rate securities. Excluding the item, earnings were 10 cents per share.
Analysts on average expected earnings of 12 cents per share, excluding exceptional items, on revenue of 608.7 million dollars.
The company also said its average revenue per user fell 61 cents to 42.54 dollars, mainly related to higher participation in its family plans.
Service revenue for the quarter rose 36% to 511 million dollars, with the company adding 299,000 net subscribers in the period.
MetroPCS reaffirmed its outlook of 1.25 million to 1.52 million for net subscriber additions in 2008.
The company expects 2008 earnings before interest, tax, depreciation and amortization in the range of 750 million dollars and 850 million dollars.