Clearwire Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. Revenue for the first quarter was $318,042,000 against $322,639,000 a year ago period. First quarter 2013 total revenue increased 2% over fourth quarter 2012 primarily due to sequential retail revenue growth. On a year over year basis, total revenue declined 1% to $318.0 million, reflecting slight declines in both wholesale and retail revenue over the prior year period. Excluding $9.3 million of merger-related expenses, first quarter 2013 Adjusted LBITDA was $42.2 million. Inclusive of merger-related expenses, adjusted LBITDA was $51.5 million, representing a $13.3 million increase compared to first quarter 2012 adjusted LBITDA of $38.2 million. The increase is primarily due to merger-related expenses, as well as lower revenue and higher COGS (excluding non-cash expenses) on a year over year basis. First quarter 2013 capex was $50 million increased $27 million over prior year period capex of $23 million primarily due to increased expenditures for company’s TDD-LTE network deployment. First quarter 2013 reported net loss from continuing operations attributable to company was $227.0 million, or $0.33 per basic share compared to $182.1 million, or $0.40 per basic share, respectively in the prior year period. Including the effects of discontinued operations, net loss attributable to company was $227.0 million, or $0.33 per basic share, compared to $181.8 million or $0.40, respectively in the prior year period. Operating loss was $303,686,000 against $421,887,000 a year ago period. Loss from continuing operations before income taxes was $445,263,000 against $576,439,000 a year ago period. Net cash used in operating activities was $105,093,000 against net cash provided by operating activities of $65,651,000 a year ago period. The company reported non-cash write downs for the first quarter was $5,116,000 against $139,056,000 a year ago period.

Clearwire Corporation, Q1 2013 Earnings Call, Apr 25, 2013

Clearwire Corporation announced that they will report Q1, 2013 results at 4:00 PM, US Eastern Standard Time on Apr 25, 2013