Metro PCS 2009 Annual Report Download - page 160

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MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2009, 2008 and 2007
F-46
21. Quarterly Financial Data (Unaudited):
The following financial information reflects all normal recurring adjustments that are, in the opinion of
management, necessary for a fair statement of the Company’s results of operations for the interim periods.
Summarized data for each interim period for the years ended December 31, 2009 and 2008 is as follows (in
thousands, except per share data):
Three Months Ended
March 31,
2009
June 30,
2009
September 30,
2009
December 31,
2009
Total revenues ....................................................................
.
$ 795,329 $ 859,612 $ 895,593 $ 929,981
Income from operations......................................................
.
131,487 115,773 158,207 129,821
Net income (1)....................................................................
.
43,973 26,196 73,550 33,125
Net income per common share — basic .............................
.
$ 0.12 $ 0.07 $ 0.21 $ 0.10
Net income per common share — diluted ..........................
.
$ 0.12 $ 0.07 $ 0.21 $ 0.09
Three Months Ended
March 31,
2008
June 30,
2008
September 30,
2008
December 31,
2008
Total revenues ....................................................................
.
$ 662,354 $ 678,807 $ 686,721 $ 723,634
Income from operations......................................................
.
112,028 135,644 120,653 99,442
Net income (2)....................................................................
.
39,519 50,465 44,880 14,574
Net income per common share — basic .............................
.
$ 0.11 $ 0.14 $ 0.13 $ 0.04
Net income per common share — diluted ..........................
.
$ 0.11 $ 0.14 $ 0.13 $ 0.04
______________________________
(1) During the three months ended March 31, 2009, June 30, 2009, September 30, 2009, and December 31, 2009, the Company recognized
an impairment loss on investment securities in the amount of approximately $0.9 million, $0.5 million, $0.4 million, and $0.6 million,
respectively.
(2) During the three months ended March 31, 2008, June 30, 2008, September 30, 2008, and December 31, 2008, the Company recognized
an impairment loss on investment securities in the amount of approximately $8.0 million, $9.1 million, $3.0 million, and $10.8 million,
respectively.
22. Subsequent Events:
On February 2, 2010, the Company entered into a like-kind spectrum exchange agreement covering licenses in
certain markets with another service provider (“Service Provider”). The Service Provider will acquire 10 MHz of
AWS spectrum in Dallas/Fort Worth, Texas; Shreveport-Bossier City, Louisiana; and an additional 10 MHz of AWS
spectrum in certain other Washington markets, as well as an additional 10 MHz of PCS spectrum in Sacramento,
California. The Company will acquire an additional 10 MHz of AWS spectrum in Santa Barbara, California;
Tampa-St. Petersburg-Clearwater, Florida; and an additional 10 MHz of AWS spectrum in Dallas/Fort Worth, Texas
and Shreveport-Bossier City, Louisiana. Consummation of this spectrum exchange agreement is subject to
customary closing conditions, including FCC consent. In addition, the Company entered into short-term lease
agreements with the Service Provider that, subject to FCC approval, authorize the Service Provider and the
Company to use the spectrum covered by the spectrum exchange agreement until the spectrum exchange is
consummated.