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Tuesday, February 26, 2013

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

MetroPCS Communications Inc's quarterly net profit fell 65 percent and revenue growth slowed for an eighth straight quarter as the wireless service provider lost customers ahead of its proposed merger with Deutsche Telekom AG unit T-Mobile USA.MetroPCS shares edged lower in early afternoon trading after the results on Tuesday, but investors focused mainly on whether MetroPCS will be able to complete the T-Mobile USA deal, which needs regulatory and shareholder approval.The company, which is facing opposition from at least some shareholders who are waging a proxy battle, told analysts on its quarterly conference call that it is "highly confident" the T-Mobile USA will be approved at its shareholder meeting on March 28. Analysts expect regulators to give the deal their blessing.MetroPCS said subscriber numbers on its older CDMA network suffered while it focused on expanding its newer high-speed wireless service based on Long Term Evolution technology. It plans to phase out the older service after the deal with T-Mobile USA, which is also betting its future on LTE.

MetroPCS Communications, Inc. provides wireless personal communication services. Shares of PCS fell by 1.02% or $-0.1/share to $9.66. 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 3172651.