NII Holdings, Inc. Lowers FY 2012 Guidance

NII Holdings, Inc. updated guidance for fiscal 2012 and expects consolidated operating revenues of about $6.1 billion compared to prior guidance of $7.1 billion and consolidated OIBDA of about $1.0 billion compared to prior guidance of $1.4 billion. As with prior guidance, the OIBDA outlook also includes the impact of start up costs related to the development and launch of the Company's planned W-CDMA networks and costs to support related initiatives, including investments in brand, expansion of distribution channels, IT and back office systems. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $6.5 billion and EBITDA of $1.3 billion for fiscal 2012.