Verizon profit up 5.3% on gains in wireless subscribers

The increase in mobile customers did not include subscribers obtained via the recent Alltel acquisition and actually topped the 1.2 million net gain of rival AT&T Inc., which many analysts did not expect. AT&T has used its exclusive rights to sell the Apple iPhone to drive sales, a luxury not afforded to Verizon.
Wireless sales were up 29.6%, including a contribution from Alltel. Sales rose 9% adjusted for Alltel. Verizon ended the quarter with 86.6 million mobile customers.
Yet Verizon also reported another steep 10.4% decline in primary local-phone connections as cable rivals continued to nibble away. A sharp U.S. recession also took its toll as sales to business customers fell.
"Verizon's wireless business continues to sparkle," analyst Craig Moffett told clients in a report Monday, but he added that "things in the wireline business continue to go from bad to worse."
In the first three months of 2009, New York-based Verizon posted net income of $3.21 billion, or 58 cents a share. That was up from $3.05 billion, or 57 cents a share, in the same period a year earlier.
Revenue jumped 11.6% to $26.6 billion, though sales adjusted for the Alltel deal rose a lesser 3.3%. In January Verizon completed the purchase of Arkansas-based Alltel, a large regional carrier, to catapult past AT&T as the nation's largest wireless-phone company.
Adjusted for onetime items, Verizon would have earned 63 cents a share, compared to 61 cents a year earlier. The company was expected to earn 59 cents a share, according to the consensus of analysts surveyed by FactSet Research. During the quarter Verizon incurred onetime costs totaling 5 cents a share related to merger and acquisitions.
Wireless sales totaled $15.1 billion while wireline revenue dropped 3.8% to $11.6 billion.
The biggest bright spot in wireline was tied to further growth in Verizon's fiber network. The company added 299,000 subscribers for its fiber-television service, known as FiOS, to push its total to 2.2 million. Verizon is expanding its multibillion-dollar fiber network to more homes as it pushes back against cable rivals that now sell phone service.
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Wireless results
Verizon has used wireless to drive growth over the past decade and to offset a long-term decline in its traditional local and long-distance phone divisions. Verizon has lost millions of local customers in recent years, with many switching to cable and others using their mobile phones exclusively.
Wireless sales, in turn, are increasingly being underpinned by higher spending on data and Internet services such as email, text messaging and Web browsing.
The average Verizon mobile subscriber spent $50.74 a month, down 0.3% from a year earlier, though data usage composed a record 28% of the typical bill. The monthly average fell mainly because Alltel customers spend less.
Reflecting the Alltel deal and poor economy, churn rose slightly to 1.47% overall and a lesser 1.14% for postpaid customers, who sign up for annual plans and pay at the end of each month. Churn reflects the percentage of customers who cancel service.
Since the recession worsened last fall, business customers canceled more wireless aircards while some consumers switched to cheaper services. Yet Verizon has the highest consumer-satisfaction ratings of any major wireless carrier and its subscribers consistently have shown the most loyalty.
Wireless profit margin, adjusted for onetime items, fell sequentially to 28.2% from 29.7%.

Harris Corporation to Acquire Tyco Electronics Wireless Systems, Creating a Leading Provider of Wireless Communication Networks in Land Mobile Radio S

Harris Corporation (NYSE: HRS), an international communications and information technology company, has signed a definitive agreement to acquire the Tyco Electronics Wireless Systems business (formerly known as M/A-COM), an established provider of mission-critical wireless communications systems for law enforcement, fire and rescue, and public service organizations.
Tyco Electronics Wireless Systems, a business segment of Tyco Electronics Ltd. (NYSE: TEL; BSX: TEL), was formed in 1999 and grew through the acquisition of ComNet Ericsson in 2001 to create Tyco Electronics Wireless Systems ("Wireless Systems"). Wireless Systems will be combined with the Harris RF Communications business segment, creating a dynamic new organization that will provide end-to-end wireless network solutions to the growing $9 billion global land mobile radio systems market.
"The combination of RF Communications and Wireless Systems creates a powerful supplier in the global land mobile radio systems market," said Howard L. Lance, chairman, president and CEO of Harris. "With an 80-year heritage in providing communications for the public safety market, Wireless Systems has established a large installed customer base, extensive domain knowledge, and well-developed sales channels, which serve the federal, state, and local public safety markets. Wireless Systems provides complete end-to-end infrastructure solutions, including IP-based voice and data networks, which support multiple platforms and provide interoperability among disparate systems. Harris RF Communications offers industry-leading radio technology, including the latest in software-defined multiband radios for interoperability and upgradeability, high-level encryption capable of supporting top secret communications, and digital waveform technology. In addition, Harris brings to the new partnership access to well-established business channels for the Department of Defense, U.S. federal agencies, and international customers."
Under the definitive agreement, Harris will purchase the Wireless Systems assets of Tyco Electronics for $675 million in cash, subject to post-closing adjustments. The goodwill arising on completion of the acquisition will be an allowable tax expense with an estimated net present value of $60 million, resulting in an effective purchase price of $615 million. The transaction excludes the State of New York wireless network contract awarded to Wireless Systems in December 2004. Wireless Systems' revenue for the fiscal year ending September 26, 2008, was $463 million, and earnings before interest, taxes, depreciation and amortization (EBITDA) was $86 million. The acquisition is expected to be slightly accretive to Harris earnings in fiscal 2010, excluding acquisition-related charges, and a significant contributor to earnings in fiscal 2011 and fiscal 2012. Morgan Stanley acted as the financial advisor to Harris, while Jones Day provided legal advice.
Wireless Systems is headquartered in Lowell, Massachusetts, with product development and manufacturing facilities in Lynchburg, Virginia, and has approximately 1,150 employees, including 500 engineers and scientists. Principal end-markets for the business include public safety and public service, federal government, transit and transportation, and utilities. End-to-end solutions include network systems and software solutions; mobile and portable radio equipment; broadband WiMAX products for high speed-data applications; and operations, service and maintenance. The business is a key player in the wireless communications standards process, successfully driving its products to open standards in both U.S. and international markets, including the next-generation digital APCO P25 standard.
Wireless Systems will operate as a business unit under the Harris RF Communications segment, headquartered in Rochester, New York. Chuck Dougherty will continue to serve as president of Wireless Systems and will report to Dana Mehnert, president of RF Communications.
"This acquisition greatly accelerates our entry into the land mobile radio systems market and creates a significant opportunity for growth in both North American and international markets," said Mehnert. "Complementary distribution channels will provide Harris with immediate access to state and local government markets for our new Unity(TM) family of multiband radios and will expand the reach for Wireless Systems infrastructure and single-band radios to the Department of Defense, U.S. federal agencies, and international customers. We look forward to delivering a new level of capability and value and bringing industry-leading customer service and support to this market by leveraging the nationwide Harris IT Services workforce."
"Reliable, secure voice and data communications are essential to first responders and government agencies entrusted with ensuring the public's health and safety," said Dougherty. "We have successfully deployed over 500 systems worldwide. Integrating our products, systems, technologies and market channels with Harris will allow our combined businesses to bridge the interoperability gap and unite public safety responders at all levels of state, local and federal government."
Harris will finance the acquisition with a combination of existing cash balances, borrowings available under its $750 million revolving credit facility, and long-term debt. The acquisition, which is subject to customary regulatory reviews and closing conditions, is expected to close prior to the Harris fiscal 2009 year end on July 3, 2009.
Harris will host a conference call at 5 p.m. ET today to discuss the acquisition of Wireless Systems. The dial-in number for the teleconference is (913) 312-0666 and the access code is 3263402. Please allow at least 10 minutes prior to the scheduled start time to connect to the teleconference. Participants are encouraged to listen via web cast, which will be broadcast live at www.harris.com.
A replay of the teleconference will be available beginning at 9:00 p.m. ET on April 16 and will run until 10:00 p.m. ET on Wednesday, April 22. To access the replay, please call (719) 457-0820, access code 3263402. A recording of the call will also be available on the Harris website beginning at 8:00 p.m. ET on April 16.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of more than $5.4 billion and 16,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(R) products, systems, and services. Additional information about Harris Corporation is available at www.harris.com.
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this press release include but are not limited to: anticipated timing of the closing of the acquisition of Wireless Systems and satisfaction of the conditions to closing, the impact of the acquisition on Harris earnings, and statements regarding revenue and growth opportunities. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Further information relating to factors that may impact the company's results and forward-looking statements are disclosed in the company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

AT&T Continues to Invest in Arkansas, Outlines 2009 Expansion Plans:Wireless Broadband

As people's lives become increasingly fast-paced and their need for connectivity greater, AT&T* today unveiled its 2009 network expansion plan for Arkansas. As part of the expansion, AT&T plans to add nearly 20 new cell sites, expand its 3G wireless broadband network in new and existing markets, and continue to rollout AT&T U-verse service.
The investment in AT&T's wired and 3G wireless networks is part of its ongoing effort to build broadband networks that will create jobs, fuel economic growth and enable AT&T's customers to access the content, applications and services that matter most to them.
AT&T plans to launch new cell sites and enhance service on existing cell sites in Hot Springs, Little Rock, Texarkana and northwest Arkansas. Additional new sites will be located on I-40 east of Little Rock and along the U.S. 65 corridor between Harrison and Conway.
AT&T also plans to launch its 3G network - the nation's fastest, according to recent data compiled by leading independent wireless research firms - in Hot Springs and expand 3G service in Fayetteville and Fort Smith. AT&T plans to also implement enhancements to its 3G wireless network in Conway, Fayetteville, Fort Smith and Little Rock with the launch of additional wireless spectrum in the 850 MHz band.
"As more people use mobile communications, having wireless access is increasingly valuable to the economy, public safety, education and our quality of life," said state Representative Robbie Wills of Conway. Wills, who is Speaker of the Arkansas House of Representatives, added, "I'm committed to helping make sure that Arkansas remains an attractive place for technology companies to invest and compete. That's especially important in the current economy, so that we can compete for jobs and growth."
AT&T plans to continue expanding AT&T U-verse service in 2009. Earlier this month, AT&T announced expansion of the service in Conway. In January, it launched AT&T U-verse TV, AT&T U-verse High Speed Internet and AT&T U-verse Voice in Fort Smith, Barling, Fayetteville, Springdale, Rogers, Bentonville, Lowell and other neighboring towns and outlying areas. AT&T also has plans to expand the service to more homes in its central Arkansas markets, including Little Rock, North Little Rock, Benton, Cammack Village, Maumelle and Sherwood.
In addition to the ongoing network investment, AT&T recently announced the grand opening of the AT&T High Speed Internet Technical Support Center located in downtown Little Rock. The center will employ nearly 190 customer assistants and managers in high-tech jobs to assist AT&T High Speed Internet subscribers across the U.S. The new support center jobs are among 5,000 positions that were previously outsourced - most of them offshore -- that AT&T is bringing in-house.
"We're investing in our employees by creating and preserving high-tech jobs that pay well, have good benefits and provide opportunities for training and advancement," said Ed Drilling, president, AT&T Arkansas. "Our ongoing investments in Arkansas will help us fulfill this vision while ensuring that our state has access to the advanced wireless broadband services that help drive economic growth."
From 2006 to 2008, AT&T's capital investment in Arkansas was nearly $525 million, and this year's plan builds on AT&T's 2008 investment, which included:
Introducing AT&T U-verse to Arkansas by turning up services in central Arkansas in September 2008 and continuing to add new features throughout the year - including AT&T U-verse Total Home DVR and U-verse Max 18 for consumers and small businesses.
Adding more than 30 new cell sites in Arkansas.
Launching its 3G network in Texarkana and expanding 3G in the Little Rock area.
AT&T's 3G network is now available in nearly 350 U.S. major metropolitan areas. The network opens the door to a new era of advanced mobile services, devices and feature-rich audio and video content, such as AT&T Video Share(SM), a first-of-its-kind technology that allows users to share live video during a wireless call.
"A top priority in 2009 is to continue to enhance the wireless and wired networks so our customers have a top notch experience every time they make a call, check an e-mail, surf the Internet or watch TV," said Steve Gray, vice president and general manager for AT&T Mobility and Consumer Markets in Arkansas and Oklahoma.
AT&T's wireless network is based on GSM (Global System for Mobile Communications) technologies, the most open and widely used wireless network platform in the world. As a result, only AT&T can offer 3G data roaming in more than 70 countries, as well as voice calling in more than 200 countries. Nearly all devices in AT&T's current portfolio are "world phones" that can be used globally.
AT&T owns and operates 26 retail locations in Arkansas. AT&T products and services are also available at a number of other authorized dealers and national retail locations. For more information about AT&T wireless coverage in Arkansas, or anywhere in the United States, consumers can go to: http://www.wireless.att.com/coverageviewer/. The online tool can measure the quality of coverage based on a street address, intersection, ZIP code or even a landmark.

3rd UPDATE: AT&T's 1Q Net Down; But IPhone Drives/ Wireless COM

Wireless competition is heating up with cheaper, pre-paid service providers luring away customers looking to cut costs and avoid commitment. AT&T appears to be weathering the competitive and economic storm on the wireless end, adding 1.2 million net new subscribers - three quarters of whom signed a long-term contract.
Apple's iPhone was the biggest factor. Dallas-based AT&T activated 1.6 million new iPhone accounts in the quarter. Apple, based in Cupertino, Calif., reports after the bell.
"In Apple we trust," said Roger Entner, who runs the communications practice at Nielsen Co. Given the number of new customers versus iPhone activation, it appears virtually every new subscriber added the highly visible smartphone.
Wireless strength helped AT&T post net income of $3.2 billion, or 53 cents a share, down from $3.52 billion, or 57 cents a share, a year earlier, but above Wall Street expectations. The latest results included 5 cents a share in pension and retiree benefit expenses.
Revenue, meanwhile, fell 0.6% to $30.57 billion and disappointed investors looking for slight growth.
The company's wireless business posted a 13% increase in profit and nearly 9% gain in revenue. The rate of customer cancellations held stable at 1.2% despite increasing pressure for customers to cut costs.
While the iPhone has been a valuable tool for adding customers, it's also been a costly one. AT&T pays a subsidy to Apple for every iPhone it activates. Entner estimates the subsidy totaled $400 million for the period.
"We said that our upfront investment in iPhone customers would depress margins in the short-term," AT&T Chief Financial Officer Rick Lindner told analysts on a call. "But given the attractive customer profile, it would support margins in the quarters and years ahead, and that's what you see in our first quarter results."
The iPhone "effect" is dissipating as AT&T worked through the initial spike of subsidy payments and realized the benefits of customers with a higher monthly cellphone bill. Analysts said the increased data revenue helped AT&T bank in more profits.
"As those iPhone customers get on the network and generate revenue, that should provide further lift to margins in the balance of the year," said William Power, an analyst at Robert W. Baird & Co.
AT&T wasn't completely immune to the competition. Ahead of the company's earnings, several analysts lowered their expectations for new pre-paid customers as a result of more aggressive rival offers.
The wireline business also continues to falter, hit particularly hard by the economy as customers drop their home phone line in favor of a cheaper cable phone service or wireless. Revenue slipped 5.4%, but profit fell by more than a quarter.
Offsetting those declines were strong additions to its high-speed Internet and television businesses. AT&T added 359,000 wired Internet connections in the period, an increase from the fourth quarter. Its U-Verse TV service added 284,000 customers - a slight increase over the December period.
While total wireline revenue fell, AT&T boasted that revenue per household increased slightly. The strength in broadband and continued cost cuts in the legacy phone business allowed the company to boost its margins, analysts said.
But there is little upside to those margins for the rest of the year, Lindner said, noting that revenue would continue to be pressured throughout the year.
Also hit was AT&T's business segment, which saw a 4.4% decline in revenue as businesses, enterprises and governments cut back on spending.

3rd UPDATE: AT&T's 1Q Net Down; But IPhone Drives/ Wireless COM

Wireless competition is heating up with cheaper, pre-paid service providers luring away customers looking to cut costs and avoid commitment. AT&T appears to be weathering the competitive and economic storm on the wireless end, adding 1.2 million net new subscribers - three quarters of whom signed a long-term contract.
Apple's iPhone was the biggest factor. Dallas-based AT&T activated 1.6 million new iPhone accounts in the quarter. Apple, based in Cupertino, Calif., reports after the bell.
"In Apple we trust," said Roger Entner, who runs the communications practice at Nielsen Co. Given the number of new customers versus iPhone activation, it appears virtually every new subscriber added the highly visible smartphone.
Wireless strength helped AT&T post net income of $3.2 billion, or 53 cents a share, down from $3.52 billion, or 57 cents a share, a year earlier, but above Wall Street expectations. The latest results included 5 cents a share in pension and retiree benefit expenses.
Revenue, meanwhile, fell 0.6% to $30.57 billion and disappointed investors looking for slight growth.
The company's wireless business posted a 13% increase in profit and nearly 9% gain in revenue. The rate of customer cancellations held stable at 1.2% despite increasing pressure for customers to cut costs.
While the iPhone has been a valuable tool for adding customers, it's also been a costly one. AT&T pays a subsidy to Apple for every iPhone it activates. Entner estimates the subsidy totaled $400 million for the period.
"We said that our upfront investment in iPhone customers would depress margins in the short-term," AT&T Chief Financial Officer Rick Lindner told analysts on a call. "But given the attractive customer profile, it would support margins in the quarters and years ahead, and that's what you see in our first quarter results."
The iPhone "effect" is dissipating as AT&T worked through the initial spike of subsidy payments and realized the benefits of customers with a higher monthly cellphone bill. Analysts said the increased data revenue helped AT&T bank in more profits.
"As those iPhone customers get on the network and generate revenue, that should provide further lift to margins in the balance of the year," said William Power, an analyst at Robert W. Baird & Co.
AT&T wasn't completely immune to the competition. Ahead of the company's earnings, several analysts lowered their expectations for new pre-paid customers as a result of more aggressive rival offers.
The wireline business also continues to falter, hit particularly hard by the economy as customers drop their home phone line in favor of a cheaper cable phone service or wireless. Revenue slipped 5.4%, but profit fell by more than a quarter.
Offsetting those declines were strong additions to its high-speed Internet and television businesses. AT&T added 359,000 wired Internet connections in the period, an increase from the fourth quarter. Its U-Verse TV service added 284,000 customers - a slight increase over the December period.
While total wireline revenue fell, AT&T boasted that revenue per household increased slightly. The strength in broadband and continued cost cuts in the legacy phone business allowed the company to boost its margins, analysts said.
But there is little upside to those margins for the rest of the year, Lindner said, noting that revenue would continue to be pressured throughout the year.
Also hit was AT&T's business segment, which saw a 4.4% decline in revenue as businesses, enterprises and governments cut back on spending.

Wireless communication is the transfer of information over a distance without the use of electrical conductors or "wires". The distances involved may be short (a few meters as in television remote control) or long (thousands or millions of kilometers for radio communications). When the context is clear, the term is often shortened to "wireless". Wireless communication is generally considered to be a branch of telecommunications.
It encompasses various types of fixed, mobile, and portable two way radios, cellular telephones, personal digital assistants (PDAs), and wireless networking. Other examples of wireless technology include GPS units, garage door openers and or garage doors, wireless computer mice, keyboards and headsets, satellite television and cordless telephones.

The term "wireless" has become a generic and all-encompassing word used to describe communications in which electromagnetic waves or RF (rather than some form of wire) carry a signal over part or the entire communication path. Common examples of wireless equipment in use today include:
Professional LMR (Land Mobile Radio) and SMR (Specialized Mobile Radio) typically used by business, industrial and Public Safety entities
Consumer Two Way Radio including FRS (Family Radio Service), GMRS (General Mobile Radio Service) and Citizens band ("CB") radios
The Amateur Radio Service (Ham radio)
Consumer and professional Marine VHF radios
Cellular telephones and pagers: provide connectivity for portable and mobile applications, both personal and business.
Global Positioning System (GPS): allows drivers of cars and trucks, captains of boats and ships, and pilots of aircraft to ascertain their location anywhere on earth.
Cordless computer peripherals: the cordless mouse is a common example; keyboards and printers can also be linked to a computer via wireless.
Cordless telephone sets: these are limited-range devices, not to be confused with cell phones.
Satellite television: allows viewers in almost any location to select from hundreds of channels.
Wireless gaming: new gaming consoles allow players to interact and play in the same game regardless of whether they are playing on different consoles. Players can chat, send text messages as well as record sound and send it to their friends. Controllers also use wireless technology. They do not have any cords but they can send the information from what is being pressed on the controller to the main console which then processes this information and makes it happen in the game. All of these steps are completed in milliseconds.
Wireless networking (i.e. the various types of unlicensed 2.4 GHz WiFi devices) is used to meet many needs. Perhaps the most common use is to connect laptop users who travel from location to location. Another common use is for mobile networks that connect via satellite. A wireless transmission method is a logical choice to network a LAN segment that must frequently change locations. The following situations justify the use of wireless technology:
To span a distance beyond the capabilities of typical cabling,
To avoid obstacles such as physical structures, EMI, or RFI,
To provide a backup communications link in case of normal network failure,
To link portable or temporary workstations,
To overcome situations where normal cabling is difficult or financially impractical, or
To remotely connect mobile users or networks.
Wireless communication can be via:
radio frequency communication,
microwave communication, for example long-range line-of-sight via highly directional antennas, or short-range communication, or
infrared (IR) short-range communication, for example from remote controls or via IRDA.
Applications may involve point-to-point communication, point-to-multipoint communication, broadcasting, cellular networks and other wireless networks.
The term "wireless" should not be confused with the term "cordless", which is generally used to refer to powered electrical or electronic devices that are able to operate from a portable power source (e.g. a battery pack) without any cable or cord to limit the mobility of the cordless device through a connection to the mains power supply. Some cordless devices, such as cordless telephones, are also wireless in the sense that information is transferred from the cordless telephone to the telephone's base unit via some type of wireless communications link. This has caused some disparity in the usage of the term "cordless", for example in Digital Enhanced Cordless Telecommunications.
In the last fifty years, wireless communications industry experienced drastic changes driven by many technology innovations.

Top Wireless Communication Companies by Market Cap
The top companies by market capitalization in the wireless communication industry are given below.[3]
As of 15 April 2009
Company Name
Exchange
Ticker
Market Capitalization
Share Price
China Mobile
NYSE
AFL
$191 billion
47.68
Vodafone
NYSE
UNM
$95.6 billion
18.22
NTT Docomo
NYSE
AIZ
$61 billion
13.89
Deutsche Telekom AG
NYSE
PICO
$55 billion
12.68
America Movil S.A.B. de C.V.
NYSE
FPIC
$32.2 billion
30.99
China Unicom
NYSE
EIHI
$26.1 billion
10.97
Mobile Telesystems
NYSE
AMIC
$15.1 billion
37.80

Applications of wireless technology

Security systems
Wireless technology may supplement or replace hard wired implementations in security systems for homes or office buildings

Television remote control
Modern televisions use wireless (generally infrared) remote control units. Now radio waves are also used.

Cellular telephony (phones and modems)
Perhaps the best known example of wireless technology is the cellular telephone and modems. These instruments use radio waves to enable the operator to make phone calls from many locations world-wide. They can be used anywhere that there is a cellular telephone site to house the equipment that is required to transmit and receive the signal that is used to transfer both voice and data to and from these instruments.

WiFi

Wi-Fi (for wireless fidelity) is a wireless LAN technology that enables laptop PC’s, PDA’s, and other devices to connect easily to the internet. Technically known as IEEE 802.11b, Wi-Fi is faster and less expensive than standard Ethernet and other common wire-based LAN technologies. Several Wi-Fi hot spots have been popular over the past few years. Some businesses charge customers a monthly fee for service, while others have begun offering it for free in an effort to increase the sales of their goods.[6]

Wireless energy transfer
Main article: Wireless energy transfer
Wireless energy transfer is a process whereby electrical energy is transmitted from a power source to an electrical load that does not have a built-in power source, without the use of interconnecting wires