MVNO based mobile service provider, Virgin Mobile USA posted impressive net income for the first quarter ended March 31, 2009 which was way above the estimates made by analysts. The company attributed the good performance to its hybrid plans which offer prepaid as well as postpaid options to subscribers.

First-quarter net income more than quadrupled to $ $13.5 million or 19 cents a share, said the company. Income last year was at $ 4.8 million or 7 cents a share. Excluding items the EPS stood at 24 cents for Q1''09.

Revenue increased 2 percent to $337.3 million. Net service revenue was up 4 percent at $318.1 million. Churn, or turnover, rate fell to 4.8 percent from 5.1 percent. ARPU slipped marginally by 0.3 %.

Its adjusted EBITDA was $49.5 million, above the company's March prediction that was between $30 million to $35 million.

The wireless company lost 133,292 net customers during the quarter. The subscriber base however rose by 2.8 % to 5.2 million subscribers.