During today's call we will refer to certain non-GAAP financial measures. We have reconciled these historical non-GAAP measures to GAAP measures in our earnings release, which is available at www.metropcs.com under the Investor Relations section. Before I turn the call over to Roger, I want to remind you that certain information that we will discuss in this conference call may constitute forward-looking statements within the meanings of federal securities laws.Forward-looking statements or any statements not of historical fact that involve risks, assumptions, projections, predictions and uncertainties that may not occur or cause actual results or the timing of events to materially differ from those made in the forward-looking statements. Words such as believes, anticipates, expects, intends, plans, should, could, would, view, estimates, projects, will and other similar expressions typically identify forward-looking statements. Forward-looking statements include, but are not limited to, statements we make regarding our future operational financial plans, our estimates of capital expenditures, our prospects for success, our strategies in our positioning in a highly competitive wireless industry. Furthermore, included in our forward-looking statements are statements regarding our competitive positioning and promotional strategies, our operational focus and objectives, the drivers of customer adoption of our services, the availability and pricing of 4G LTE handsets and RCS, the effects in demand for our services, anticipated benefits of 4G LTE, our marketing initiatives and their benefits, the reasons for reduced growth, the buildout of 4G LTE, statements regarding the impact of investment spectrum on capital expenditures and free cash flow, the manageability of our debt maturities, our position from a balance sheet perspective, capital expenditure guidance and other statements which are not historical. Management may make additional forward-looking statements in response to questions. Additionally, our forward-looking statements are subject to a number of risks, many of which are beyond our control including, but not limited to the risk factors described in our earnings release and our annual report on Form 10-K, quarterly reports on Form 10-Q, including our 10-Q for the period ended March 31, 2012 filed this morning and current reports on Form 8-K. Copies of which can be obtained free of charge from the SEC at www.sec.gov or from the Investor Relations section located under the About Us tab on our website or directly from contacting the Investor Relations department.
Among these, for example, are risks related to competition, availability of spectrum, our ability of our networks to meet customer demands, the availability of 4G LTE handsets in the economy. We encourage you to review these documents. We've also provided supplemental slides that are available for download and printing on our Investor Relations website. We may refer to these slides during our prepared remarks and in response to questions.I'd like to remind you that the results for the first quarter 2012 may not be reflective of results for any subsequent periods. For anyone listening to a taped or webcast replay or reviewing a written transcript of today's call, please note that all information presented is current and should be considered valid only as of April 26, 2012 regardless of the date review, read or replay. MetroPCS disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or developments or otherwise, except as required by law. The company does not plan to update or reaffirm guidance except through formal public disclosure pursuant to regulation FD. Certain terms that are used in today's call are registered trademarks of MetroPCS. At this time, I'd like to turn the call over to Roger. Roger D. Linquist Thank you, Keith. First quarter is normally the strongest sales quarter for the year for the no Contract segment. However, our net gains and EBITDA in the first quarter 2012 significantly underperformed expectations. The combinations of uncertainty in the economy and growing competition in 3G data service makes our early investment initiatives in 4G LTE that much more important. Read the rest of this transcript for free on seekingalpha.com