Sprint - Nextel 2008 Annual Report Download - page 154

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CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Google Spectrum Agreement — We entered into a spectrum agreement with Google, which we refer to as
the Google Spectrum Agreement, pursuant to which we will make available to Google certain of our excess
2.5 GHz spectrum in various markets for experimental usage by Google, and for development of alternative
applications by third-parties operating under the direction and approval of Google and us. The third-party use of
our spectrum beyond that used for WiMAX technology cannot be utilized in a manner that will interfere with our
use of our spectrum for WiMAX technology, and will be subject to availability. The revenue generated from the
spectrum usage other than for WiMAX technology will be shared by Google and us. In addition, both parties will
agree to form a joint technology team to manage the activities outlined in the Google Spectrum Agreement. The
Google Spectrum Agreement provides for an initial term of five years from the date of the agreement. The
Google Spectrum Agreement will be terminable by either party on default of the other party.
19. Quarterly Financial Information (unaudited)
Summarized quarterly financial information for the years ended December 31, 2009 and 2008 is as follows
(in thousands, except per share data):
First Second Third Fourth Total
2009 quarter:
Total revenues ......................... $ 62,137 $ 63,594 $ 68,812 $ 79,915 $ 274,458
Operating loss ......................... $(232,949) $(241,404) $(291,326) $(417,664) $(1,183,343)
Net loss .............................. $(260,492) $(264,044) $(305,389) $(423,921) $(1,253,846)
Net loss attributable to Clearwire
Corporation ......................... $ (71,055) $ (73,374) $ (82,427) $ (98,726) $ (325,582)
Net loss to Clearwire Corporation per
Class A Common Share:
Basic ................................ $ (0.37) $ (0.38) $ (0.42) $ (0.55) $ (1.72)
Diluted .............................. $ (0.38) $ (0.38) $ (0.43) $ (0.55) $ (1.74)
2008 quarter:
Total revenues ......................... $ — $ — $ — $ 20,489 $ 20,489
Operating loss(1) ...................... $ (95,101) $ (73,679) $ (90,864) $(233,434) $ (493,078)
Net loss .............................. $ (97,437) $ (79,566) $(137,603) $(277,741) $ (592,347)
Net loss attributable to Clearwire
Corporation(2) ...................... N/A N/A N/A $(118,020) $ (432,626)
Net loss to Clearwire Corporation per
Class A Common Share:
Basic ................................ $ (0.16) $ (0.16)
Diluted .............................. $ (0.28) $ (0.28)
(1) Fourth quarter operating loss includes a non-recurring charge of approximately $80.6 million related to the
settlement of spectrum lease contracts.
(2) Clearwire Corporation was formed on November 28, 2008; therefore net loss attributable to Clearwire
Corporation was not applicable for the first three quarters of 2008.
F-88