* Q2 EPS $0.23 vs est $0.18
* Says confident of 2009 EBITDA, free cash flow outlook
* Hybrid gross additions rise
Aug 10 Wireless carrier Virgin Mobile USA Inc
VM.N, which has agreed to be acquired by Sprint Nextel Corp
(S.N), reported a higher quarterly profit that beat market
estimates as it continued to benefit from the growth of its
profitable hybrid customer base.
Hybrid gross additions grew to 63 percent of total gross
additions in the second quarter, from 55 percent in the first
quarter, resulting in a 20 percent year-over-year growth in
total hybrid gross customer additions in the first half of
2009, the company said.
Hybrid plans, which have some benefits of both prepaid and
postpaid options, offer customers fixed number of minutes at a
standard price without a contract.
Virgin Mobile said it was confident of its 2009 outlook for
adjusted EBITDA and free cash flow.
On July 28, Virgin Mobile and Sprint Nextel said they
signed a deal that valued Virgin Mobile at about $483 million.
The company said second-quarter net income attributable to
common stockholders rose to $16.8 million, or 23 cents per
share, from $3.5 million, or 7 cents per share, a year earlier.
Operating revenue fell 3.8 percent to $307.6 million.
Analysts on average had expected earnings of 18 cents per
share, excluding exceptional items, on revenue of $332.2
million, according to Reuters Estimates.
Virgin Mobile shares closed at $4.86 Friday on the New York
(Reporting by S. John Tilak in Bangalore; Editing by Gopakumar