Metro PCS 2009 Annual Report Download - page 5

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Continued operational successes, including our expansion of coverage into
the Northeast
New product and service offerings such as unlimited international calling
Our expanded handset lineup which includes Smartphones
Our footprint expansion through our expanding strategic roaming agreements
Financial Health
We reported healthy full-year 2009 operating and financial results that demonstrate
the underlying strengths of our business and our ability to manage effectively in what
has been a challenging environment. We are focused on building long-term value
for our shareholders as well as providing our customers the best value for their dollar.
Profitable growth is the cornerstone of our business, and as we continue to grow, we
actively monitor and manage our Cost Per Gross Addition (CPGA). For the full year
2009, we reported a consolidated CPGA of approximately $146 which was less than
half the average CPGA of the national wireless carriers. With increased awareness of
the value of unlimited offerings, it is important we articulate our unique value
proposition to the consumer, and we have launched an advertising campaign
intended to support this goal. With the value inherent in our plans, our robust handset
lineup, and strong, relevant coverage, we are marketing our strengths and driving
customers into our stores.
Innovations
We are truly delivering Wireless for All. In early January 2010, we unveiled our
Wireless for All family of tax inclusive service plans. Under these exciting new plans,
our prices include all applicable taxes and regulatory fees. These plans position us
as the best deal in town and support our goal to be predictable, affordable, flexible
and simple. Additionally, we eliminated our first month free policy, while
correspondingly reducing our retail handset prices. We believe these changes will
lead to increased customer satisfaction and help drive growth and increase customer
retention. Just as we pioneered no long-term contract, flat-rate unlimited services, we
remain committed to delivering innovative, competitive service plans with a high-
quality wireless network and more choices of affordable and desirable phones.
We are even more excited about our plans to launch our 4G LTE network during the
second half of 2010. Our LTE network is expected to provide a substantial
improvement in data-throughput over existing 3G technologies, and will increase
Maintaining a strong balance sheet and generating substantial Adjusted EBITDA
enables us to further develop services and products, deploy LTE technology, and
expand service coverage. At the end of 2009, we had approximately $1.2 billion
in cash and hort term investments. We also generated both record revenue of
approximately $3.5 billion and record Adjusted EBITDA for the full year of over
$950 million, representing growth rates of 27% and 22%, respectively, over the prior year.
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