MetroPCS Files For $1.1 Billion IPO

US regional carrier MetroPCS has filed for a $1.1 billion initial public offering, according to RCR News, and will use the money to expand into the markets it aquired spectrum for last year. This is the second attempt at an IPO for MetroPCS, after a failed attempt in 2004.
The filing reveals that the carrier has 2.6 million subscribers — 50 percent more than a year ago — and a net income of $70.6 million for the first nine months of last year, down from $179.8 million for the full year 2005. The carrier’s revenues during the first nine months of last year was $1.09 billion, up from the $750.2 million in 2005.

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