KANSAS CITY, Mo.-The weighted average shares reported in Sprint PCS’ July 22 second-quarter operating results, which are used to calculate loss per share, inadvertently excluded the effect of the 24 million shares of low-vote PCS stock issued in May for the acquisition of the Cox minority interest in the southern California major trading area.
The correct weighted average shares that should have been reported are 460 million and 445.9 million for the second quarter and year-to-date periods ended June 30, respectively.
The correct losses per share are $1.21 (rather than $1.25) and $2.66 (rather than $2.70) for the second quarter and year-to-date periods ended June 30, respectively. The actual shares outstanding were 472.4 million, said Sprint.
