Written by: Editor
7/29/2009 8:24 AM

Sprint Nextel has reported second quarter 2009 financial results that included consolidated net operating revenues of US$8.1 billion, down on the 9.06 billion a year ago - and a net loss of US$384 million. The company generated Free Cash Flow of US$676 million in the quarter and US$1.5 billion in the first half of 2009."In the second quarter, we made further progress on our efforts to enhance financial stability, improve the customer experience and reinvigorate the brand," said Dan Hesse, Sprint Nextel CEO. Hesse added "However, we are not satisfied that we lost a quarter of a million customers in the quarter."Net Debt decreased by approximately $700 million from the end of the first quarter, to $16.4 billion.Capital expenditures were $321 million in the quarter, compared to $291 million in the first quarter of 2009 and $646 million in the second quarter of 2008. Included in second quarter 2008 capital expenditures is approximately $100 million in nonrecurring capital expenditures related to the deployment of WiMAX prior to the closing of the Clearwire transaction.

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