NTELOS Holdings Corp. (NASDAQ: NTLS)(the “Company”) announced today selected preliminary financial and operating results for the quarter ended September 30, 2012 and reiterated its full year 2012 Adjusted EBITDA Guidance. The Company also announced that it intends to explore the possibility of refinancing its outstanding credit facility to take advantage of current favorable market conditions. In connection with the potential refinancing, the Company has prepared a company overview presentation that it intends to share and discuss with prospective lenders. A copy of the presentation has been filed with the Securities and Exchange Commission on a Current Report on Form 8-K and is available at www.sec.gov and is also posted on the Company’s website at: http://ir.ntelos.com.
Third Quarter Subscriber Activity
- Total gross additions for the third quarter were 42,400
- Total postpay gross additions were 22,000
- Total prepay gross additions were 20,400
- Total net additions for the third quarter were 5,500
- Total postpay net additions were 4,900
- Total prepay net additions were 600
- Total subscribers as of September 30, 2012 were 430,300
- Total postpay subscribers as of September 30, 2012 were 288,900
- Total prepay subscribers as of September 30, 2012 were 141,400
- Churn, net for the third quarter was 2.88%
- Prepay Churn was 4.69%
- Postpay Churn was 1.99%
For the third quarter, Adjusted EBITDA is expected to be approximately $31.9 million. Adjusted EBITDA for the quarter was negatively impacted by a lower of cost or market inventory adjustment due to a price reduction related to the introduction of the iPhone 5 and costs due to storm damage in the network coverage territory, which together totaled approximately $2.0 million. The Company has filed an insurance claim related to the storm losses.