NTELOS reports increase in revenue
THE TAKE: Waynesboro-based NTELOS Holdings Corp., a wireless phone provider, reported third-quarter revenue of $130.9 million, up 14.4 percent from the same quarter last year.
Revenue: $130.9 million for the third quarter of 2013, up from $114.5 million in the third quarter of 2012.
Total adjusted EBITDA: $45.6 million, up from $31.9 million.
Diluted earnings per share: 48 cents, up from 22 cents.
THE COMPANY’S TAKE:
“The favorable settlement with Sprint over disputes related to our Strategic Network Alliance announced last month capped off a successful third quarter of 2013. We believe the settlement ensures that our wholesale revenues will continue at levels consistent with recent quarters and, perhaps more importantly, establishes a foundation from which we will look to extend and expand our relationship,” James A. Hyde, CEO of NTELOS Holdings Corp. said in a statement. “Meantime, we continue to be pleased with the growth of our retail business as we increased subscribers for the seventh straight quarter.”