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March 4, 2009

Ntelos Q4 net income up

Operating revenue rose 8% on year-ago

By CBR Staff Writer

Ntelos Holdings, a US-based provider of wireless and wireline communications services, has posted a net income of $6.4m, or $0.15 per diluted share, for fourth quarter ended December 31, 2008, compared to $4.32m, or $0.1 per diluted share, in the same quarter of 2007.

Operating revenues for fourth quarter 2008 were $140.6m, compared to $127.92m in the same period of 2007.

Operating revenues for the year 2008 were $539.83m, an 8% increase over $500.39m in 2007. The company posted a net income of $47.25m, or $1.12 per diluted share, an increase of 45% over $32.45m, or $0.77 per diluted share in 2007.

James Quarforth, CEO of Ntelos Holdings, said: We are pleased with our performance in 2008, especially given the current economic climate. Consolidated adjusted EBITDA was up 14% for fourth quarter 2008 over the same quarter last year and was up 12% year-over-year. Despite weakened consumer confidence and spending trends, our sales remained strong throughout the year and new wireless data product offerings made possible by our network EV-DO upgrade are beginning to show solid results.

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