SOURCE: Virgin Mobile USA

Virgin Mobile USA

April 03, 2009 12:55 ET

Virgin Mobile USA Meets NYSE Minimum Share Price Requirement

WARREN, NJ--(Marketwire - April 3, 2009) - Virgin Mobile USA, Inc. (NYSE: VM) received notice from the New York Stock Exchange (NYSE) that as of March 31, 2009, the company's 30-day average share price was above $1.00, restoring compliance with the minimum share price requirement for NYSE continued listing standards. As of March 31, 2009, Virgin Mobile USA's 30-day average share price was $1.19.

Virgin Mobile USA, Inc. received letters of non-compliance from the NYSE in November of 2008, notifying the company that it had fallen below both the minimum share price and market capitalization requirements for continued listing on the NYSE. On March 31, 2009, Virgin Mobile USA returned to compliance with the pricing standard, but has not yet satisfied the minimum market capitalization requirement. To return to compliance for the market capitalization standard, the NYSE requires that Virgin Mobile USA have an average market capitalization above $100 million for two consecutive quarters.

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About Virgin Mobile USA, Inc.

Virgin Mobile USA, Inc., through its operating company Virgin Mobile USA, L.P., offers millions of customers control, flexibility and choice through both Virgin Mobile's Plans Without Annual Contracts and contract offerings through Helio By Virgin Mobile, with national coverage powered by the Sprint PCS network.

Virgin Mobile USA is known for its award-winning customer service, with 90% of its own customers reporting satisfaction. Virgin Mobile USA allows customers to earn free minutes in exchange for viewing advertising content online through the innovative Sugar Mama program. Virgin Mobile USA's full slate of smart, stylish and affordable handsets are available at approximately 40,000 top retailers nationwide and online at http://www.virginmobileusa.com/, with Top-Up cards available at more than 140,000 locations. Helio's advanced devices like the Ocean and unlimited all-in voice plans can be explored at http://www.helio.com/.

Contact Information

  • Media Contact:
    Jayne Wallace
    Virgin Mobile USA
    908-607-4014
    Email Contact

    Investor Contact:
    Erica Bolton
    Virgin Mobile USA
    908-607-4108
    Email Contact