MetroPCS Communications Inc. (PCS) reported a sharp fall in fourth-quarter 2012 net income to $31.67 million, or $0.09 per share, from $91.27 million, or $0.25 per share a year back. Recent quarter's net income included $7 million in expenses, net of tax, incurred relating to the proposed business combination with T-Mobile.
On a non-GAAP basis, excluding the expenses related to the proposed business combination, net income would have been $39 million or $0.11 per share. On average, 24 analysts polled by Thomson Reuters expected earnings per share of $0.11 for the quarter. Analysts' estimates typically exclude one-time items.
Income from operations slid 44% year-over-year in the recent quarter, with the operating income decline driven mainly by lower service revenues as well as an increase in selling, general and administrative expenses and depreciation and amortization expense, the company added.
Consolidated total revenues were $1.28 billion this quarter, a 4% increase over the prior year's $1.24 billion. Analysts estimated revenues of $1.28 billion for the quarter.
For 2013, MetroPCS now expects to incur capital expenditures in the range of $800 million - $900 million on a standalone consolidated basis.
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