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MetroPCS 1Q profit rises on higher subscriber numbers

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May 6, 2008

DALLAS—Wireless communication company MetroPCS Communications Inc. said Monday its first-quarter profit rose 8.7 percent on higher sales.

Net income rose to $39.5 million, or 11 cents per share, from $36.4 million, or 11 cents per share.

The first-quarter results included a loss of $8 million on the company's security investments. Excluding the loss, the company earned $48 million, or 13 cents per share.

Sales rose 23.4 percent to $662.4 million from $535.7 million.

Analysts polled by Thomson Financial expected profit of 14 cents per share on sales of $663.6 million. Analysts typically exclude one-time costs and gains.

The company said service revenue rose to $562 million from $440 million as Americans continued to switch from land lines to wireless phones.

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