Virgin Mobile USA today announced some key metrics for the three months and full year ended December 31, 2008:
- Fourth quarter net customer additions were approximately 216,000 with churn for the fourth quarter 2008 of 4.8%, as the Company saw a benefit from consumers looking for value in a challenging economic environment.
- Virgin Mobile USA ended the year with approximately 5,380,000 customers, including customers added with the acquisition of Helio, which closed on August 22, 2008. The Company attracted more than 3.3 million gross customer additions during the year.
- Gross Customer Additions of 960,000 in Q4 2008
- Net Customer Additions of 216,000 in Q4 2008
- Strong Hybrid Performance Drives Acquisition
From the release:
“The initiatives we have implemented throughout 2008 have begun to show clear benefits to our results,” said Virgin Mobile USA CEO Dan Schulman. “Our new offers have helped lead to strong customer growth and improved retention as consumers look for value and flexibility during uncertain economic times. Our hybrid plans continue to grow in popularity, accounting for over 50% of our gross adds in October and November and 29% of our subscriber base at the end of November. We expect the growth of these plans to lead to continued improvement in ARPU trends in the fourth quarter of 2008.”
Virgin Mobile USA expects to release complete financial results for the fourth quarter and full year 2008 on March 3, 2009.