Question-and-Answer Session
(Operator Instructions) Your first question comes from Ric Prentiss of Raymond James.
Ric Prentiss - Raymond James
A couple of questions for you; first, the requisite economy question, given your reaffirmation of the guidance for ’08 and say you are going to hit the high-end or expect towards the high-end and reaffirming the ’09 growth of EBITDA, how do you get comfortable with the visibility on those projections in this kind of a economy, I just wanted to get a sense of how you built up the budget?
Tim Yager
It’s a situation where we continue to believe that despite the economic downturn, people are still spending their available dollars on handsets and I think that we’ve continued to see relatively good foot traffic in our stores as evidence by the Samsung instinct product that essentially sold out nearly day one and so we feel like that we have the sales momentum.
As Steb said in his comment one area where we have a little cautionary note is it relates to travel. People are just going to be driving less to our territory because gas prices are north of $4, but as we look at overall sales we feel like that we’ve got the momentum there, we’ve got the processes in place to continue to accelerate, to maintain our sales despite the economic downturn.
Richard Prentiss - Raymond James
Okay and then on the ARPU side also a little pressure in the quarter, but I think you mentioned that really improved notably in June. For your annual guidance and your look in to ’09 to work, what sort of trends do we need to see absent roaming, but local data kind of ARPU?
Steb Chandor
Rick this is Steb. ARPU as a whole as we said in our prepared comments, the month of June actually was one of our stronger ARPU’s in a period of time and the preliminary information we have to date for July seems to suggest continuing momentum there. So, there is some positive momentum going on if you will.
The other thing that was going on is that we do have credits to go against ARPU. As we talked about we’re essentially complete with the Ensemble conversion and we’ve seen a slight moderation of that credit. That credit amount actually is large enough to make up a good deal of the difference between the ARPU of the second quarter of last year to this year, so it’s something we are focused on.
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