Nextel Continues to Post Strong Growth

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Nextel's stock hit a new 52-week high of $31.09 early Monday, before dropping to $30.83 per share in mid-day trading. Nextel, which is in the midst of being acquired by Sprint Corp., previously had stated it would post at least $5.75 billion in operating income before depreciation and amortization; $2.6 billion in capital expenditures; $2 billion in free cash flow; $1.75 in earnings per share; and at least 2.9 million net customer additions for the year. Nextel posted $5.12 billion in OIBDA; $2.35 billion in capex; $1.51 billion in free cash flow; $1.87 in earnings per share; and 2.9 million net customer additions last year.

Nextel also announced a strategic joint marketing and technology partnership with fixed and mobile wireless data solutions provider AirLink Communications Inc. Through the partnership, AirLink's Raven and PinPoint ruggedized wireless modems will be available to Nextel customers.

AirLink noted the Raven device is Class I Div 2 certified and suited for telemetry and remote monitoring and control applications. The PinPoint modem includes standalone global positioning system functionality, enabling fleet customers to manage their mobile workforces, track assets and extend enterprise applications to the field. Both devices include AirLink's Embedded Operating System software, which the company said is specifically designed for wireless data networking.

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