Virgin Mobile USA posts positive 3Q 2008 with Helio under belt

Virgin Mobile USA apparently made a good move in their decision to acquire defunct post-paid wireless carrier Helio. Following a negative 2Q 2008 that had costs associated with the Helio acquisition dragging down Virgin Mobile USA (NYSE: VM)’s bottom line, the affordable wireless carrier has announced a profitable 3Q 2008.

Virgin Mobile USA added 821,491 gross subscribers to its network, representing an 8% year-on-year increase in subscriber additions. Their expanded customer base helped Virgin Mobile pull in $4.1 million in profits for the third quarter, easing the blow of the carrier’s $7.4 million loss last quarter.

The financial announcement proves that the wireless industry might prove to be a profitable safe-harbor in a rough economic sea.

[Via: RCR]