Question-and-Answer Session
Operator
Thank you. (Operator instructions) We'll go first with Ric Prentiss with Raymond James.
Ric Prentiss – Raymond James
Hey, good morning guys.
Jim Quarforth
Hey Ric.
Mike Moneymaker
Good morning Ric.
Ric Prentiss – Raymond James
Hey. A couple of questions for you, on the Rev-A, like seeing that acceleration of that build out into this year, talk to me a little bit more about Air Card sales. I think you said 22% up just since April, are the supply of those in plentiful, and are they getting through the distribution channel, and what kind of price plans are you doing with the data cards?
Jim Quarforth
Sure. The 22% that we referred to, Ric, included all our data products, all data features which would include Air Cards and smart phones, and anything that would be an EV-DO-type feature. We realized, with the deployments we've done in the five markets, these are the more or less dense markets. It represents about 26% of our cell sites, but about 17% of our covered pops [ph] and half of which were launched in the middle of the second quarter. Seeing nice pickup in all of the products, Air Cards, smart phones, and real pleased with the package revenue growth we've seen post-launch versus pre-launch.
Ric Prentiss – Raymond James
And then, I think you mentioned that you've done 282 cells, you are looking to do 768 total, will that be by the end of '08 you'll have the 768 cells and what kind of percent of pops would that represent?
Jim Quarforth
Yes, the 768 represents EV-DO cell sites by yearend. That's about 70% of the cell sites and probably the best estimation I'd say is about 55% of the covered pops at that point.
Ric Prentiss – Raymond James
So, by the end of the year, you'll be kind of similar to where I think Shenandoah earlier this week announced they had 54% or so Rev-A percent pops, they were seeing data APUR over $12 a month, so it almost seems like –
Jim Quarforth
The plans, Ric, I'm not sure I answered that previously – the plans for an Air Card is I believe it's about $49.95 for Air Card plan.
Ric Prentiss – Raymond James
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Got you. Okay, and then you talked about the Sprint minimum, on balance sheet, Mike made a good point about your leverages coming down, the net leverage dropping lower, as we look out into '09, looks like this leverage could be going to 2 or maybe below 2. What are your thoughts as far as the balance sheet, what's the right leverage level, would you (inaudible) do with the cash investment business or return to shareholders, what are your thoughts there?
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