NII Holdings Posts Record Results for Second Quarter 2008

RESTON, Va., July 23 /PRNewswire-FirstCall/ -- NII Holdings, Inc. today announced its consolidated financial results for the second quarter of 2008. For the second quarter, the Company added 394,500 net subscribers, a new quarterly record resulting in an ending subscriber base of over 5.4 million subscribers, a 34% increase over the subscriber base reported at the end of the second quarter of 2007. Financial results for the second quarter of 2008 included consolidated operating revenues of $1.1 billion, a new quarterly record representing a 40% increase over the same period last year. The Company reported consolidated operating income before depreciation and amortization, or OIBDA, for the second quarter of $305 million, a 47% increase over the same period last year. The Company's reported OIBDA includes the impact of... [read full story]