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Tech Industry

VoiceStream Wireless expands sales, losses in 3Q

    VoiceStream Wireless posted a net loss of $661.3 million, or $3.02 a share, on sales of $562.2 million in its third quarter Monday.

    The $562.2 million in sales marks a 317 percent improvement from the year-ago quarter when it lost $93 million, or 97 cents a share, on sales of $134.9 million.

    Its adjusted EBITDA loss was $226 million.

    VoiceStream Wireless (Nasdaq: VSTR) shares closed off $2.44 to $117.38 ahead of the earnings report.

    First Call Corp. consensus expected it to lose $1.99 a share in the quarter.

    Most analysts were expecting sales of around $510 million in the quarter.

    In the quarter, it added more than 501,000 subscribers, bringing its total customer base to 3.1 million users.

    Subscription sales jumped to $336.2 million, up 215 percent from the year-ago quarter.

    "We are very excited by the progress our teams have made this quarter," said CEO John Stanton in a prepared release. "We have made a series of strategic moves that have solidified our position as the premier national GSM operator in the United States."

    VoiceStream, which is still awaiting approval of its $37 billion merger with Deutsche Telekom (NYSE: DT) posted a loss of $419.7 million, or $2.16 a share, on sales of $453.6 million in its second quarter.

    The stock moved as high as $161 a share in February before falling to a 52-week low of $77.63 in April.

    First Call Corp. consensus expects it to lose $8.06 a share in the fiscal year.