-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MR9/sntboXCDy+LNhQXa9Bm0vmR7c9JygX4hlwt5+wcp1CwVC2fXEXyKldl7yeOy Z+SdSjO53pHcLE40stwbHg== 0000931763-02-002373.txt : 20020709 0000931763-02-002373.hdr.sgml : 20020709 20020709152233 ACCESSION NUMBER: 0000931763-02-002373 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020708 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: FILED AS OF DATE: 20020709 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIRGATE PCS INC /DE/ CENTRAL INDEX KEY: 0001086844 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 582422929 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27455 FILM NUMBER: 02698757 BUSINESS ADDRESS: STREET 1: 233 PEACHTREE ST NE STREET 2: SUITE 1700 CITY: ATLANTA STATE: GA ZIP: 30303 BUSINESS PHONE: 4045257272 MAIL ADDRESS: STREET 1: 233 PEACHTREE ST STREET 2: SUITE 1700 CITY: ATLANTA STATE: GA ZIP: 30303 8-K 1 d8k.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 8, 2002 AirGate PCS, Inc. (Exact name of registrant as specified in its charter) Delaware 027455 58-2422929 -------- ------ ---------- (State or other Jurisdiction of (Commission File No.) (I.R.S. Employer Incorporation) Identification No.) 233 Peachtree Street, N.E. 30303 Harris Tower, Suite 1700, ----- Atlanta, Georgia (Zip Code) ---------------- (Address of principal executive offices) Registrant's telephone number, including area code: (404) 525-7272 Not Applicable (Former name or former address, if changed since last report) ------------------------------------------------------------- Item 9. Regulation FD Disclosure. - ------ ------------------------ On July 8, 2002, AirGate PCS, Inc., a Delaware corporation ("AirGate"), issued a press release announcing its net subscriber additions for the third fiscal quarter ending June 30, 2002 were 26,079, expanding the Company's total subscriber base to 532,446 subscribers. AirGate also announced that its subsidiary, iPCS Wireless, Inc. had attained its minimum subscriber covenant under the iPCS senior secured credit facility. A copy of the press release referenced above is attached hereto as Exhibit 99.1. Item 7. Financial Statements and Exhibits. - ------ --------------------------------- (c) Exhibits. Exhibit No. Description ---------- ----------- 99.1 Press Release of AirGate PCS, Inc. dated July 8, 2002 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AIRGATE PCS, INC. Date: July 9, 2002 By: /s/ Alan B. Catherall ------------------------------------ Alan B. Catherall, Chief Financial Officer EX-99.1 3 dex991.txt PRESS RELEASE OF AIRGATE PCS, INC EXHIBIT 99.1 AirGate PCS, Inc. Reports Over 26,000 Net New Subscribers for Three Months Ended June 30, 2002 ATLANTA, Jul 8, 2002 (BUSINESS WIRE) -- AirGate PCS, Inc., (Nasdaq/NM: PCSA), a Sprint PCS Network Partner, today announced net subscriber additions for the third fiscal quarter ending June 30, 2002 were 26,079, expanding the Company's total subscriber base to 532,446 subscribers. These results are within AirGate's revised guidance of 22,000 to 27,000 new subscribers for the third fiscal quarter as announced on June 5, 2002. The Midwest region, formerly the iPCS territory, contributed approximately 14,675 of the net new additions and finished the third fiscal quarter with 195,143 ending subscribers. Net additions and ending subscribers excludes a reserve for 2,461 subscribers not expected to pay, which was calculated using exactly the same methodology and process as the prior quarter. The total number of 197,604 subscribers exceeds the June 2002 minimum subscriber covenant under the iPCS senior credit facility of 191,500 subscribers by more than 6,000 subscribers. The Company also disclosed that churn for the third fiscal quarter was 3.2%, an increase from the 3.0% churn experienced in the prior quarter ended March 31, 2002. The increase was primarily due to higher churn for the month of June. AirGate expects to announce full financial and operating results for the third fiscal quarter ended June 30, 2002 on or about August 5, 2002. About AirGate PCS AirGate PCS, Inc., including its subsidiaries, is the Sprint PCS Network Partner with the exclusive right to sell wireless mobility communications network products and services under the Sprint brand in territories within seven states located in the southeastern and mid-western United States. The territories include over 14.6 million residents in key markets such as Grand Rapids, Michigan; Charleston, Columbia, and Greenville-Spartanburg, South Carolina; Augusta and Savannah, Georgia; Champaign-Urbana and Springfield, Illinois; and the Quad Cities areas of Illinois and Iowa. AirGate PCS is among the largest Sprint PCS Network Partners. As a Sprint PCS Network Partner, AirGate PCS operates its own local portion of Sprint's PCS network to exclusively provide 100% digital, 100% PCS products and services under the Sprint name in its territories. About Sprint Sprint operates the nation's largest all-digital, all-PCS wireless network, already serving the majority of the nation's metropolitan areas including more than 4,000 cities and communities across the country. Sprint has licensed PCS coverage of more than 280 million people in all 50 states, Puerto Rico and the U.S. Virgin Islands. Sprint plans to launch its 3G network nationwide this summer and expects to deliver faster speeds and advanced applications on Sprint PCS 3G Phones and devices. For more information on products and services, visit www.sprint.com/mr. Sprint PCS is a wholly-owned tracking group of Sprint Corporation trading on the NYSE under the symbol "PCS." Sprint is a global communications company with more than 80,000 employees worldwide and $26 billion in annual revenues and is widely recognized for developing, engineering and deploying state-of-the art network technologies. Definitions of Terms Used: The following are terms used in the press release. None are measures of financial performance under generally accepted accounting principles in the United States. Churn: Churn is the monthly rate of customer turnover expressed as a percentage of the customer base that discontinued the service during the month. Churn is computed by dividing the number of customers that discontinued the service during the month by the average subscribers for the period, net of an adjustment for 30 day returns and those customers not reasonably expected to pay. Net Additions: Net additions refer to the increase in total subscribers between periods, net of an adjustment for those customers not reasonably expected to pay. Ending Subscribers: Ending subscribers exclude an estimate of new customers added during the period who are not reasonably expected to pay. CONTACT: AirGate PCS Inc., Atlanta Michael D. Picchi Vice President Finance 404-525-7272 -----END PRIVACY-ENHANCED MESSAGE-----