Consolidated operating revenues rose 51% from $3.79 billion in 1999 to $5.71 billion in 2000. Domestic operating revenues were $5.38 billion, while Nextel International reported $330 million in operating revenues.
Consolidated service revenues for 2000, which exclude digital handset and accessory sales of $426 million, rose 59% to $5.29 billion and include $4.98 billion from domestic operations and $309 million from Nextel International. Mextel also managed to extend its customer base in 2000. Consolidated operating cash flow for the entire year increased by 136%.
The consolidated loss attributable to common stockholders improved to $61 million during the fourth quarter 2000 as compared with a $369 million loss in the fourth quarter of 1999. The consolidated loss per share attributable to common stockholders was $1.35 for 2000 and $0.08 for the fourth quarter of 2000 and includes a gain on the exchange of Clearnet shares for Telus Corp. shares as previously disclosed in Nextel’s public filings.
In 2000, Nextel accomplished its financial goals, said John Brittain, Nextel’s CFO in a press statement. Domestic subscribers grew 48%, service revenue grew 55%, and cash flow grew 100% to $1.40 billion. For 2001, we expect domestic revenues to exceed $7 billion, and cash flow growth of 50%-65%. We also expect that operating expenses will be significantly greater earlier in the year with accelerating cash flow growth in the second half of 2001. As a result, domestic operating cash flow in the first quarter of 2001 may not exceed fourth quarter 2000. With approximately $7 billion of liquidity, Nextel has the financial wherewithal to stay at the forefront of the exploding growth in the wireless industry.
Nextel has also recently committed to purchase additional spectrum in the 700, 800, and 900 bands. Giving effect to pending acquisitions, Nextel now has approximately 20 MHz of spectrum in the 800 and 900 bands in 52 of the top 100 US markets and approximately 4 MHz of spectrum in the 700 band.
