Metro PCS 2008 Annual Report Download - page 3

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A Message From
Chairman, President and Chief Executive Officer
Roger D. Linquist
To Our Stockholders,
2008 was a high-growth year in which we launched service in new major
metropolitan areas, expanded service in our existing markets, continued to
innovate and bring new services to market, recorded record net subscriber
additions and reported strong financial results. Throughout 2008, in both our
Core and Expansion Markets, we increased subscriber penetration even with the
significant headwinds of a deteriorating economy and an overall competitive
environment. As voice continues to go wireless, we have effectively changed
how wireless services are sold by offering predictable, affordable, and flexible,
unlimited wireless communications services. As a pioneer in pay-in-advance
unlimited wireless, we are also one of the most profitable and fastest growing
broadband mobile wireless providers in the United States.
In 2008, we had 1.4 million net subscriber additions, bringing our total subscriber
base at year end 2008 to approximately 5.4 million subscribers, up from
approximately 4 million at the end of 2007. In fact, during the fourth quarter,
MetroPCS recorded a greater increase in new subscribers per covered
population than any other major facilities-based carrier in the United States. As
an indication of our ability to execute on our plans, we are very pleased to report
that we have met or exceeded the guidance we provided for 2008 originally
issued in November 2007. Recently, in April 2009, we reported total net
subscriber additions of approximately 684 thousand during the first quarter of
2009, and total subscribers of approximately 6.1 million. This growth is
outstanding and we are the leader in providing unlimited broadband mobile
wireless services in our metropolitan markets in the United States.
We believe one of the keys to our success and continued growth is not only our
value proposition, but the simplicity of our service offerings. We have focused our
business on offering easy to understand service plans. Our affordable, flat-rate,
unlimited wireless service does not require a signed contract. With our unlimited
service plans, our subscribers can talk and text all they want. Alleviating
subscribers from the concern of metered usage limits, has resulted in our
subscribers using their phones over an hour a day or over 2,000 minutes per
month. This usage is more than double the large national providers’ average and
is a key competitive differentiator.