Earnings: Alltel Reports Solid 2Q; Prepares For Merger With Verizon Wireless


Alltel (NYSE: AT), the fifth-largest U.S. carrier, said yesterday it achieved strong customer growth in the second quarter, and is preparing for its merger with Verizon Wireless (NYSE: VZ) to close later this year following regulatory approvals. Together, the two companies will make the largest U.S. carrier. Release. Spreadsheet.

Highlights for the second quarter:

— Customers: The Little Rock, Ark.-based company said it added more than 1 million gross customers, a 37 percent increase from a year ago. Total net adds were 319,687, compared to the year-ago period when it added 181,494.

— Revenues: Second quarter revenues totaled $2.39 billion, up 10 percent from the same period a year ago.

— Losses: The company reported a net loss of $69.9 million, which it explained was primarily due to significant increases in interest costs and depreciation and amortization expense following the completion of the company

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