NANTUCKET, Mass.-Nextel Communications Inc. told investors it is achieving improved customer satisfaction, is continuing to scale capital spending and is on track to meet or exceed its full-year 2003 guidance.
“We are very encouraged by favorable trends in customer retention rates, net subscriber additions and our average revenue per subscriber,” explained Tim Donahue, president and chief executive officer of Nextel, at the Wachovia Securities Annual Nantucket Conference.
Nextel reported earlier this year that it expects to report at least $500 million in free cash flow; at least $3.8 billion in earnings before interest, taxes, depreciation and amortization; $1.8 billion or less in capital expenditures; and approximately 1.7 million net customer additions.
Donahue added that Nextel has seen positive reactions to its recently launched Nationwide Direct Connect service, which is currently available in half of the company’s markets, and that the Motorola Inc. six-to-one voice coder software upgrade is on schedule for implementation during the third quarter.
