iPCS, Inc.

iPCS Inc. (IPCS) is on its way out of the read and rapidly growing into the black. Estimates are skyrocketing and producing astounding growth rates.

Company Description

iPCS Inc. is the Sprint PCS Affiliate of Sprint Nextel with the exclusive right to sell wireless mobility communications, network products and services under the Sprint brand in portions of Illinois, Michigan, Pennsylvania, Indiana, Iowa, Ohio and Tennessee.

The company covers over 10 million residents and nearly 700,000 subscribers. The company is headquartered in Schaumburg, IL where it employs about 550 people, and carries a market cap of roughly $170 million.

Out of the Red

On Mar 2 iPCS announced fourth-quarter results that included a earnings per share of 0 cents. While that alone seems disappointing, this was up from a net loss of 24 cents per share one year ago. Another plus was that analysts were expecting a 27 cent loss.

Estimates Spike

After the wireless company announced earnings analysts drastically revised their forecasts. The consensus estimate for 2009 is currently 28 cents, up from a loss of 49 cents one week ago. Estimates for 2010 are now averaging $1.49, up from 89 cents.

These projections would be greater than 200% growth in 2009 and more than 400% in 2010.

The Chart

Shares of IPCS have been building momentum since January. Take a look at the chart below.