Shenandoah Telecommunications Co (SHEN, Financial) filed Annual Report for the period ended 2010-12-31.
Shenandoah Telecommunications Co has a market cap of $383.1 million; its shares were traded at around $16.14 with a P/E ratio of 19.7 and P/S ratio of 2.4. The dividend yield of Shenandoah Telecommunications Co stocks is 2%. Shenandoah Telecommunications Co had an annual average earning growth of 16.2% over the past 10 years.
The Company records its postpaid PCS revenues, with the exception of certain roaming and equipment sales revenues, based on the net PCS revenues billed by Sprint Nextel, net of an 8% Management Fee and 8.8% Net Service Fee retained by Sprint Nextel. The 8.8% Net Service Fee increased to 12.0% effective June 1, 2010. Net PCS revenues billed by Sprint Nextel consist of gross monthly recurring charges for service, net of both recurring and non-recurring customer credits, account write offs and other billing adjustments. In the computation of advance billing deferred revenue, neither the Management Fee nor the Net Service Fee are deferred.
Sprint Nextel also receives disbursements from the USF with respect to certain service areas served by its business. USF disbursements relating to our service area are passed through to us. In November 2008, as a condition for the FCC s approval of Sprint Nextel s acquisition of a controlling interest in Clearwire Corp., the FCC imposed requirements that Sprint Nextel s disbursement be reduced by 20% during calendar year 2009, and by an additional 20% per year for each subsequent calendar year, until such funding reaches zero in 2013. This reduction in Sprint Nextel s universal service disbursements also applies to the amounts of funding passed through to us. The condition would cease to apply if Sprint Nextel were to supply an actual cost analysis that would justify greater amounts of funding, or if the FCC were to adopt an alternative set of rules affecting the industry as a whole.
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Shenandoah Telecommunications Co has a market cap of $383.1 million; its shares were traded at around $16.14 with a P/E ratio of 19.7 and P/S ratio of 2.4. The dividend yield of Shenandoah Telecommunications Co stocks is 2%. Shenandoah Telecommunications Co had an annual average earning growth of 16.2% over the past 10 years.
Highlight of Business Operations:
PCS has offered personal communications services through a digital wireless telephone and data network since 1995. In 1999, this subsidiary executed a management agreement with Sprint Nextel. The network, which utilizes code division multiple access, or CDMA, currently covers 269 miles of Interstates 81 and 83, and a 177 mile section of the Pennsylvania Turnpike between Pittsburgh and Philadelphia, as well as many of the communities near these routes. This territory includes approximately 2.3 million residents, and our network currently covers more than 87% of them. Under its agreements with Sprint Nextel, the Company is the exclusive PCS Affiliate of Sprint Nextel in the Company s territory, providing wireless mobility communications network products and services in the 1900 megahertz spectrum range. The Company had 235,697 postpaid PCS customers at December 31, 2010, an increase of 5.8% compared to December 31, 2009. The Company had 66,956 prepaid wireless customers at December 31, 2010, an increase of 17,071 since the initial acquisition of prepaid subscribers. Of the Company s total operating revenues, 60.0% in 2010, 63.6% in 2009 and 69.3% in 2008 were generated by or through Sprint Nextel and its customers using the Company's portion of Sprint Nextel s nationwide PCS network. No other customer relationship generated more than 2.5% of the Company s total operating revenues in 2010, 2009 or 2008.The Company records its postpaid PCS revenues, with the exception of certain roaming and equipment sales revenues, based on the net PCS revenues billed by Sprint Nextel, net of an 8% Management Fee and 8.8% Net Service Fee retained by Sprint Nextel. The 8.8% Net Service Fee increased to 12.0% effective June 1, 2010. Net PCS revenues billed by Sprint Nextel consist of gross monthly recurring charges for service, net of both recurring and non-recurring customer credits, account write offs and other billing adjustments. In the computation of advance billing deferred revenue, neither the Management Fee nor the Net Service Fee are deferred.
Sprint Nextel also receives disbursements from the USF with respect to certain service areas served by its business. USF disbursements relating to our service area are passed through to us. In November 2008, as a condition for the FCC s approval of Sprint Nextel s acquisition of a controlling interest in Clearwire Corp., the FCC imposed requirements that Sprint Nextel s disbursement be reduced by 20% during calendar year 2009, and by an additional 20% per year for each subsequent calendar year, until such funding reaches zero in 2013. This reduction in Sprint Nextel s universal service disbursements also applies to the amounts of funding passed through to us. The condition would cease to apply if Sprint Nextel were to supply an actual cost analysis that would justify greater amounts of funding, or if the FCC were to adopt an alternative set of rules affecting the industry as a whole.
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