Shenandoah Telecommunications’ (Shentel) Q4 financial results improved by $11.8 million...
Shenandoah Telecommunications’ (Shentel) Q4 financial results improved by $11.8 million as a result of reduced expenses related to its participation in Sprint Nextel’s prepaid wireless plan sales program. Shentel said Friday the expense reduction “reflects the recalculation of certain expenses,…
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including the cost of handsets, costs per gross addition, and cash cost per user, associated with the program.” The $11.8 million reflects a cash reimbursement for the period between July 2010 and Sept. 30, Shentel said. The expense reduction will be reflected in Shentel’s results for Q4, which ends Monday. Shentel began selling Sprint Nextel’s Virgin Mobile and Boost services in July 2010. Shentel said it “expects that the revised methodology for calculating expense allocable to the Company under the Sprint Nextel prepaid services program will contribute to improved profit margins for its wireless segment in future fiscal periods” (http://xrl.us/bn8bpk).