NII Holdings, Inc. (NIHD) Misses Q1 EPS by 14c; Reports 52K Net Subs Loss
NII Holdings, Inc. (NASDAQ: NIHD) reported Q1 EPS of ($2.19), $0.14 worse than the analyst estimate of ($2.05). Revenue for the quarter came in at $970.2 million versus the consensus estimate of $1.02 billion.
NII Holdings' consolidated average monthly service revenue per subscriber (ARPU) was $29 for the first quarter of 2014, down from $39 in the prior year. The Company also reported consolidated average monthly churn of 3.42 percent for the period, compared to 2.42 percent in the first quarter of 2013. Consolidated cost per gross add (CPGA) was $290 for the first quarter 2014, a $13 increase from the year ago period.
The Company ended the first quarter with $5.9 billion in total debt and $1.7 billion in consolidated cash and short-term investments, resulting in $4.2 billion of net debt.
NII HOLDINGS, INC. AND SUBSIDIARIESOPERATING RESULTS AND METRICSFOR THE THREE MONTHS ENDED MARCH 31, 2014 AND 2013(UNAUDITED) | |||||||
NII Holdings, Inc | |||||||
(subscribers in thousands) | |||||||
Three Months Ended March 31, | |||||||
2014 | 2013 | ||||||
iDEN | 7,101.1 | 9,403.1 | |||||
WCDMA | 2,336.2 | 410.7 | |||||
Total subscriber units in commercial service (as of March 31) | 9,437.3 | 9,813.8 | |||||
iDEN | (405.1) | (7.7) | |||||
WCDMA | 353.1 | 119.5 | |||||
Total net subscriber (losses) additions | (52.0) | 111.8 | |||||
Migrations from iDEN to WCDMA | 241.0 | 87.0 | |||||
iDEN customer churn | 3.74 | % | 2.38 | % | |||
WCDMA customer churn | 2.24 | % | 4.17 | % | |||
Churn (%) | 3.42 | % | 2.42 | % | |||
Average monthly revenue per handset/unit in service (ARPU) (1) | $ | 29 | $ | 39 | |||
Cost per gross add (CPGA) (1) | $ | 290 | $ | 277 | |||
For earnings history and earnings-related data on NII Holdings, Inc. (NIHD) click here.