iPCS sees revenue growth, settles disagreements with Sprint

5 Mar 2008

iPCS, an affiliate partner of US cellular operator Sprint Nextel, has reported a 6.7% increase in fourth quarter sales to USD141.9 million. Full-year revenues grew 9% to USD538.1 million. Net loss for the fourth quarter fell from USD12 million to USD4.1 million, though losses for the full year widened from USD46 million to USD69.3 million. Meanwhile, iPCS and Sprint have ended a long-running disagreement over per-user rates that iPCS pays to Sprint for back office services. The rate for 2008 will be lowered from USD7.50 per user to USD6.50 per user, with further reductions agreed for 2009 and 2010. Voice roaming charges will also be reduced. ‘We are pleased to have reached an agreement that allows iPCS and Sprint Nextel to continue our successful partnership and continue to build long-term value for both companies, said iPCS President and CEO Timothy Yager.

United States, Sprint Corporation (now part of T-Mobile US)