Sprint
Industry: Communications Services

Sprint PCS Group includes Sprint's wireless PCS (personal communications system) operations. As of December 31, 2002, the PCS Group, together with third-party affiliates, operated PCS systems in over 300 metropolitan markets. The PCS Group has licenses to serve the entire United States population, including Puerto Rico and the United States Virgin Islands. The PCS Group supplements its own network through affiliation arrangements with other companies that use CDMA. Under these arrangements, these companies offer PCS services under the Sprint brand name on CDMA networks built and operated at their own expense. The PCS Group also provides PCS services to companies that resell PCS services to their customers on a retail basis under their own brand. In August 2003, Horizon PCS Inc., an affiliate of the PCS Group, filed a voluntary petition for protection under Chapter 11 of the United States Bankruptcy Code along with two subsidiaries.

Business Summary
Sprint Corporation (Sprint) is a global communications company offering an extensive range of communication products and solutions, including wireless, long-distance voice and data transport, global Internet Protocol (IP), local and multi-product bundles. Sprint is selling into the cable telephony market through arrangements with cable companies that resell Sprint long-distance service and/or use Sprint back-office systems and network assets in support of their local telephone service provided over cable facilities. Sprint is a carrier of Internet traffic and provides connectivity to any point on the Internet either through its own network or via direct connections with other backbone providers. Sprint's operations are divided into three lines of business: Wireless, Local and Long distance operations.

Financial Summary
Sprint Corporation is a provider of long-distance, local service and wireless communications. It operates two groups: The FON Group and The PCS Group. For the 6 months ended 6/30/05, revenues rose 3% to $14.05B. Net income applicable to Common rose from $452M to $1.07B. Revenues reflect sales increases from the PCS wireless division. Earnings also benefited from lower operating expenses as a percentage of sales and lower debt levels.