Clearwire Reports Fourth Quarter and Full Year 2008 Results.

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Clearwire Reports Fourth Quarter and Full Year 2008 Results.

Key 2008 Highlights

* Completed Combination with Sprint's 4G Assets, Resulting in Largest U.S. Mobile Wireless Spectrum Portfolio

* Closed $3.2 Billion Financing Round at $17 Per Share

* 2008 Pro Forma Revenue Increases 52 Percent Driven by 21 Percent Subscriber Growth and 6 Percent ARPU Increase

* Initial Markets Increase Market EBITDA Margin to 40 Percent in Fourth Quarter 2008

Additional Highlights

* First "Clear" Mobile WiMAX Market Comes Out of the Gate Strong With Initial Sales More Than Double Any of Clearwire's Prior 47 Market Launches

* Mobile WiMAX Network Expansion Under Way Enabling Coverage of Up To 120 Million Americans Across 80 Markets in 2010

* Atlanta, Las Vegas, Chicago, Charlotte, Dallas/Ft. Worth, Honolulu, Philadelphia, and Seattle Among Cities Going "Clear" in 2009

* New York, Boston, Washington, D.C., Houston and the San Francisco Bay Area Lead List of Planned 2010 Launches

* Clearwire to Launch Dual Mode 3G/4G Modem This Summer Giving "Clear" Subscribers Access to a Nationwide 3G Mobile Data Network

KIRKLAND, Wash. -- Clearwire Corporation (NASDAQ:CLWR) (along with its subsidiaries, "Clearwire" or the "Company"), a leading provider of wireless broadband services, today reported its unaudited consolidated financial and operating results for the fourth quarter and full year ended December 31, 2008.

"In 2008, we accomplished very significant milestones throughout our business. We completed a transaction with Sprint Nextel that rationalized our spectrum holdings into a nationwide footprint and gave us access to Sprint's existing infrastructure to facilitate our network deployment. We raised more than $3 billion of new capital and entered into wholesale distribution arrangements with Sprint and leading cable companies, creating an expanded reach for our services well beyond what Clearwire could accomplish on its own," said Benjamin G. Wolff, chief executive officer of Clearwire. "We also continued to demonstrate the financial strength of our business and our ability to compete, with ARPUs increasing despite industry declines, and our U.S. markets as a group producing positive market EBITDA margins."

"During 2009, we ex...

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