EX-99 4 q2ex99c.txt EX 99C - CINGULAR WIRELESS (PRO FORMA) (Domestic) Cingular Wireless - (Pro Forma) In October 2000, BellSouth and SBC Communications combined substantially all of their respective domestic wireless operations to form Cingular Wireless. In the following table, we present selected Pro Forma and key operating data for Cingular. We believe that this presentation provides meaningful comparative information for existing operations; we cannot, however, assure you that the amounts shown below would have been acheived if Cingular had actually been in operation during the periods presented.
Quarter Ended Six Months Ended 6/30/01 6/30/00 % Change 6/30/01 6/30/00 % Change Operating Revenues Wireless Service Revenues $3,338 $2,917 14.4% $6,403 $5,586 14.6% Equipment Revenues 260 250 4.0% $528 $490 7.8% Total Wireless Revenues 3,598 3,167 13.6% 6,931 6,076 14.1% Operating Expenses Cash Operating Expenses 2,346 2,115 10.9% 4,707 4,091 15.1% Depreciation and Amortization 493 460 7.2% 967 955 1.3% Total Operating Expenses 2,839 2,575 10.2% 5,674 5,046 12.4% Operating Income 759 592 28.3% 1,257 1,030 22.0% Interest Expense 216 219 (1.4%) 431 433 (0.4%) Other Income (Expense), net (24) (30) (20.0%) 37 (56) N/M* Joint Venture Earnings - Earnings before Income Tax 519 343 51.4% 863 541 59.5%
Selected ProForma Financial and Operating Data for Cingular Wireless
Quarter Ended Six Months Ended 6/30/01 6/30/00 % Change 6/30/01 6/30/00 % Change (amounts in millions) EBITDA $1,252 $1,052 19.0% $2,224 $1,985 12.1% EBITDA margin @ 37.5% 36.1% 34.7% 35.5% Total Cellular/PCS Customers 21.218 18.143 16.9% 21.218 18.143 16.9% Net Customer Additions - Cellular/PCS 0.701 0.849 (17.5%) 1.567 1.544 1.5% Partitioned Customers 0.018 0.030 Wireless Service ARPU - Cellular/PCS $52.38 $54.54 (4.0%) $51.37 $53.42 (3.8%) POPs - Cellular/PCS # 211 192 211 192 Penetration - Cellular/PCS (excludes Voicestream NY) # 11.1% 9.5% 11.1% 9.5% Total Cingular Interactive Customers 0.689 0.382 80.1% 0.689 0.382 80.1% Net Customer Additions - Cingular Interactive 0.032 0.080 (59.8%) 0.116 0.159 (27.4%)
* Not Meaningful @ Denominator includes Wireless Service Revenues only. # POPs includes New York spectrum picked up in a swap with Voicestream. This spectrum is not yet cleared and is not factored in the penetration calculation. Revisions to pro formas primarily reflect changes in depreciation and amortization. Cingular Wireless - (Pro Forma) In October 2000, BellSouth and SBC Communications combined substantially all of their respective domestic wireless operations to form Cingular Wireless. In the following table, we present selected Pro Forma and key operating data for Cingular. We believe that this presentation provides meaningful comparative information for existing operations; we cannot, however, assure you that the amounts shown below would have been acheived if Cingular had actually been in operation during the periods presented.
Three Months Ending 3/31/99 6/30/99 9/30/99 12/31/99 3/31/00 6/30/00 9/30/00 12/31/00 3/31/01 6/30/01 Operating Revenues Wireless Service Revenues $2,404 $2,419 $2,666 $2,556 $2,669 $2,917 $3,036 $2,990 $3,065 $3,338 Equipment Revenues 204 213 260 248 240 250 287 255 268 260 Total Wireless Revenues 2,608 2,632 2,926 2,804 2,909 3,167 3,323 3,245 3,333 3,598 Operating Expenses Cash Operating Expenses 1,859 1,800 1,872 2,111 1,976 2,115 2,237 2,392 2,361 2,346 Depreciation and Amortization 452 450 489 492 495 460 448 464 474 493 Total Operating Expenses 2,311 2,250 2,361 2,603 2,471 2,575 2,685 2,856 2,835 2,839 Operating Income 297 382 565 201 438 593 638 389 498 759 Interest Expense 213 216 229 218 214 219 215 218 215 216 Other Income (Expense), net (57) (24) (57) (8) (26) (30) (46) (16) 61 (24) Joint Venture Earnings - Earnings before Income Tax 27 142 279 (25) 197 344 377 155 344 519
Selected ProForma Financial and Operating Data for Cingular Wireless
3/31/99 6/30/99 9/30/99 12/31/99 3/31/00 6/30/00 9/30/00 12/31/00 3/31/01 6/30/01 (amounts in millions) EBITDA $749 $832 $1,054 $693 $933 $1,052 $1,086 $853 $972 $1,252 EBITDA margin @ 31.2% 34.4% 39.5% 27.1% 35.0% 36.1% 35.8% 28.5% 31.7% 37.5% Total Cellular/PCS Customers 15.066 15.627 15.891 16.599 17.294 18.143 18.867 19.681 20.535 21.218 Net Customer Additions - Cellular/PCS 0.595 0.561 0.263 0.709 0.695 0.849 0.723 0.814 0.866 0.701 Partitioned Customers 0.012 0.018 Wireless Service ARPU - Cellular/PCS $54.16 $52.17 $56.09 $52.39 $52.24 $54.54 $54.20 $51.38 $50.32 $52.38 POPs - Cellular/PCS # 192 192 192 192 192 192 192 192 192 211 Penetration - Cellular/PCS (excludes Voicestream NY) # 7.9% 8.1% 8.3% 8.7% 9.0% 9.5% 9.8% 10.3% 10.7% 11.1% Total Cingular Interactive Customers 0.108 0.135 0.159 0.223 0.302 0.382 0.462 0.573 0.657 0.689 Net Customer Additions - Cingular Interactive 0.016 0.027 0.024 0.064 0.079 0.080 0.080 0.111 0.084 0.032
@ Denominator includes Wireless Service Revenues only. # POPs includes New York spectrum picked up in a swap with Voicestream. This spectrum is not yet cleared and is not factored in the penetration calculation. Revisions to pro formas primarily reflect changes in depreciation and amortization.