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Tuesday, February 26, 2013

CORRECTED-MetroPCS net profit falls 65 pct, revenue growth slows, (NYSE: PCS)

Mobile phone service provider MetroPCS Communications Inc reported a 65 percent fall in quarterly net profit as revenue growth slowed for the eighth straight quarter.The company, in the process of merging with Deutsche Telekom AG unit T-Mobile USA, said in January that it lost a net 93,000 subscribers in the fourth quarter.The company agreed in October to a reverse merger deal with T-Mobile USA that would leave Deutsche Telekom with a 74 percent stake in the combined company. MetroPCS will declare a 1-for-2 reverse stock split and pay $1.5 billion to its shareholders.MetroPCS will hold a special shareholder meeting on March 28 to vote on the deal, which it expects to close in early April.

MetroPCS Communications, Inc. provides wireless personal communication services. Shares of PCS fell by 0.61% or $-0.06/share to $9.70. In the past year, the shares have traded as low as $5.53 and as high as $14.51. On average, 6842590 shares of PCS exchange hands on a given day and today's volume is recorded at 77633.