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Clearwire Reports Fourth Quarter And Full Year 2012 Results

Stocks in this article: CLWR

(4) Retail CPGA (Cost per Gross Addition) is selling, general and administrative costs, less general and administrative costs and acquired businesses costs (costs from entities that were acquired by Clearwire's predecessor entity) plus device equipment subsidies, divided by gross retail customer additions in the period.

  Three months ended
  (in thousands) December 31, 2012 September 30, 2012 June 30, 2012 December 31, 2011
Selling, general and administrative  $ 138,489  $ 139,365  $ 137,693  $ 128,502
Less: G&A and other  (113,103)  (104,720)  (100,409)  (97,227)
Selling expense  25,386  34,645  37,284  31,275
Plus: Equipment COGS  16,300  17,707  8,959  9,875
Less: Equipment revenue  (9,042)  (9,396)  (8,269)  (9,111)
Total retail CPGA Expense  $ 32,644  $ 42,956  $ 37,974  $ 32,039
Total gross adds  211  225  168  124
Total retail CPGA  $ 155  $ 191  $ 226  $ 259
  Year ended
  (in thousands) December 31, 2012 December 31, 2011
Selling, general and administrative  $ 558,202  $ 698,067
Less: G&A and other  (413,640)  (473,696)
Selling expense  144,562  224,371
Plus: Equipment COGS  57,586  24,113
Less: Equipment revenue  (41,062)  (21,952)
Total retail CPGA Expense  $ 161,086  $ 226,532
Total gross adds  800  776
Total retail CPGA  $ 201  $ 292

Management uses retail CPGA to measure the efficiency of the company's customer acquisition efforts, to track changes in Clearwire's average cost of acquiring new subscribers over time, and to help evaluate how changes in the company's sales and distribution strategies affect the cost-efficiency of the company's customer acquisition efforts. Clearwire believes investors use retail CPGA primarily as a tool to track changes in the company's average cost of acquiring new subscribers.

CONTACT: Investor Relations:
         Alice Ryder, 425-505-6494
         Media Relations:
         Susan Johnston, 425-505-6178
         JLM Partners for Clearwire:
         Mike DiGioia or Jeremy Pemble, 206-381-3600 or

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