Losses widen at Clearwire

5 Mar 2008

US wireless internet provider Clearwire added 47,000 net new subscribers in the fourth quarter of 2007 and 188,000 over the whole year, taking its total customer base to 394,000 at end-December. The firm reported fourth quarter revenues of USD45.4 million, up from USD23.7 million in the year-ago period, but an increase in capital expenditures, from USD62.7 million to USD82.7 million, and higher general expenses meant that the firm’s EBITDA loss widened from USD74.1 million to USD133.8 million. Sales for the full year grew 51% to USD151.4 million while EBITDA loss increased 110% to USD414.3 million. The firm is predicting sales growth of between 36% and 42% in 2008, with subscriber numbers expected to exceed 510,000 by year-end.

United States, Clearwire