Verizon Caps Successful Year With Strong 4Q Results

[admin_mvu]

01/28/2008
New York, NY —
4Q 2007 HIGHLIGHTS

• 37 cents in EPS and 62 cents in adjusted EPS (non-GAAP), compared with 4Q 2006 EPS of 48 cents and 52 cents, respectively, from continuing operations.
• $23.8 billion in revenues, up 5.5 percent; up 5.6 percent on an adjusted basis (non-GAAP).

Wireless

• 2.0 million total net customer additions, 1.9 million net retail customer additions; 65.7 million total customers, 63.7 million retail (non-wholesale) customers; 6.9 million retail net adds in 2007, the most of any carrier.
• 1.20 percent total churn, 0.94 percent retail post-paid churn -- industry-leading customer loyalty.
• 13.3 percent increase in total revenues; data revenues up 53.0 percent; service ARPU up for quarter and full year; highest-ever data ARPU in the quarter; 43.6 percent EBITDA margin on service revenues (non-GAAP).

Wireline

• 226,000 net new FiOS TV customers, 943,000 total FiOS TV customers at year-end; Verizon now has more than 1 million FiOS TV customers.
• 264,000 net new broadband connections, including 245,000 net new FiOS Internet customers; 8.2 million total broadband connections, up 17.9 percent from year-end 2006.
• 25.1 percent increase in revenues from strategic services at Verizon Business.

YEAR-END 2007 HIGHLIGHTS

• $1.90 in 2007 EPS and $2.36 in adjusted EPS, compared with 2006 EPS of $1.88 and $2.06, respectively, from continuing operations.
• $93.5 billion in total 2007 revenues, up 6.0 percent from 2006; up 6.1 percent on an adjusted basis.
• $26.3 billion in cash flows from continuing operations in 2007, up 14.2 percent from 2006.
• $17.5 billion in 2007 capital expenditures.