Alaska Communications Systems Reports Fourth Quarter 2003 Results.Business Editors/High-Tech Writers ANCHORAGE Anchorage (ăng`kərĭj), city (1990 pop. 226,338), Anchorage census div., S central Alaska, a port at the head of Cook Inlet; inc. 1920. , Alaska--(BUSINESS WIRE)--Feb. 26, 2004 Record Quarter for Wireless Additions; Broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). Continues to Grow; New Management Spearheads Operational Changes Alaska Communications Systems This article is about the current telecommunications company. For the historical "Alaska Communications System", see AT&T Alascom. Alaska Communications Systems, (or ACS) is a telecommunications corporation, headquartered in Anchorage, Alaska. Group, Inc. ("ACS (Asynchronous Communications Server) See network access server. ") (Nasdaq:ALSK) today reported financial results for the fourth quarter and year ended December December: see month. 31, 2003. Revenues for the fourth quarter of 2003 were $77.5 million, which represented a 3% increase over fourth quarter 2002 revenues of $75.2 million, adjusted to exclude revenue from the Company's Directory business sold in 2003. This increase was primarily attributable to continued growth in wireless and broadband, as the Company's local telephone revenues decreased by less than 3% year over year. Reported revenues for fourth quarter of 2002 were $83.4 million. The Company's net loss for the fourth quarter of 2003 was $17.2 million or $0.58 per share, which compares to a net loss of $69.2 million, or $2.25 per share for the same period in 2002. During the quarter, the Company incurred charges to operations of $7.4 million related to litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. reserves, management changes and M&A costs, $4.7 million of which were non-cash. Excluding the cash component of these charges, adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become was within Company guidance at $26.9 million for the quarter. Including the cash charges, EBITDA was $24.2 million. "At ACS, we are fundamentally changing the way we operate our business to compete as a true integrated telecommunications company See telecom company. that earns the loyalty of its customers each and every day," commented Liane li·an·a also li·ane n. Any of various climbing, woody, usually tropical vines. [Alteration of French liane, probably from lier, to bind, from Old French; see liable.] Pelletier Pelletier is the name of several people.
n. A long narrow pillow or cushion. tr.v. bol·stered, bol·ster·ing, bol·sters 1. To support or prop up with or as if with a long narrow pillow or cushion. 2. our management team, accelerated our sales effort, reduced costs and reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. to better serve our business, consumer and wholesale customers. We are making tangible progress toward building a business model that will grow the number of loyal customers who stay with us, buy more and refer us to others. For example, in the business market, we have increased our business sales force by 50%, easily doubled the number of customer visits for each rep and changed the way we compensate our sales teams. These efforts are already producing tangible results with over 25 new business wins in Q4. In the consumer market, we have integrated sales and service for the very first time in ACS history and are focused on offering one-stop one-stop adj. Relating to or providing a comprehensive selection of goods or services at a single location: one-stop shopping; a one-stop health-care center. shopping for our customers, delivering a full range of telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and entertainment services." "With these and other changes, we believe we can significantly improve our competitive position, despite the fact that our core market continues to face line shrinkage Shrinkage The amount by which inventory on hand is shorter than the amount of inventory recorded. Notes: The missing inventory could be due to theft, damage, or book keeping errors. similar to other LECs," added Ms. Pelletier. "A key to our efforts will be our wireless and broadband product offerings, which continue to grow impressively. In Q4, we added a record 3,000 wireless customers sequentially in a seasonally soft period with typical levels of promotional activity and in Q1 we see a continued opportunity to pick up share in an unsettled market. In broadband, we added almost 1,500 subscribers and dramatically reduced the wait time for installation, as we focused on improving customer service in every facet facet /fac·et/ (fas´it) a small plane surface on a hard body, as on a bone. fac·et n. 1. A small smooth area on a bone or other firm structure. 2. of our business. On this note, we have reduced ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and (average speed of answer) in every one of our service queues and have already retrained over 25% of our consumer market customer-facing employees in multiple product lines." -- Access lines declined by 0.6% sequentially to 314,221, in line with many LECs as the Company faced displacement displacement, in psychology: see defense mechanism. Same as offset. See base/displacement. by broadband and wireless as well as competitive pressure. -- The Company added 3,024 wireless subscribers from the immediately preceding quarter. In Q4, Average Revenue per Unit, or ARPU (Average Revenue Per User) A calculation often used to determine the overall value of an application. It is also used to rate particular customers, especially in the wireless space, by comparing someone's account to the overall average. , improved by $1.73 to $45.53 and MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. (Minutes of Use) increased by 19.2% over the same period last year. -- ACS ended the quarter with 17,780 DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary subscribers, an increase of 1,486 subscribers on a sequential basis. -- Long distance subscribers decreased modestly to 43,166 customers, as the Company still faces wireless substitution Substitution Arsinoë put her own son in place of Orestes; her son was killed and Orestes was saved. [Gk. Myth.: Zimmerman, 32] Barabbas robber freed in Christ’s stead. [N.T.: Matthew 27:15–18; Swed. Lit. and restrictions on its ability to easily bundle long distance with local telephone. "We have made significant progress on our company-wide cost reduction efforts that will have a positive impact in 2004," commented Kevin KEVIN Keepers of the Eternal Vigilance of the Islamic Nation (fictional, from White Teeth by Zadie Smith) P. Hemenway, Senior Vice President and CFO See Chief Financial Officer. of ACS. "During the quarter, we undertook a number of planned capital expenditures related to satisfying strong demand for our wireless and DSL offerings. In addition, we experienced an increase in wireless expenses, reflecting our success in adding 3,000 customers during a seasonally low period of cellular usage. Going forward, we will continue to closely control capital expenditures and manage operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , as we build a stronger company." Recent Highlights Since Liane Pelletier joined in October October: see month. , ACS has significantly bolstered its management team and Board of Directors with the hiring of three senior executives and the addition of two new board members. The executives and directors bring a wealth of industry knowledge and will be invaluable in executing ACS' goal to offer fully integrated services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. in a customer focused organization. -- David Eisenberg David S. Eisenberg (born 15 March 1939) is an American biochemist noted for his seminal contributions to structural and computational molecular biology. A professor at the University of California, Los Angeles since the early 1970s and director of the UCLA-DOE Institute for joined the Company as Senior Vice President, Corporate Strategy and Development from Sprint Corporation where he was Vice President - Corporate Strategy. David is David I, king of Scotland David I, 1084–1153, king of Scotland (1124–53), youngest son of Malcolm III and St. Margaret of Scotland. During the reign of his brother Alexander I, whom he succeeded, David was earl of Cumbria, ruling S of the Clyde an industry veteran spending 21 years at Sprint and Centel Centel Corporation was a former independent telephone company that provided telephone services in largely rural areas. Founded in 1909 as a small wiring company, it grew to provide electricity, cable television, and wireless telephone service to its customers. . He is directly responsible for strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , business development, market and competitive analysis, market research and strategy, regulatory strategy and corporate communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. at ACS. -- Sheldon
Sheldon may refer to: Places
Product Marketing from Sprint where he was Vice President, Broadband Direct. Sheldon focused on deploying a number of new technologies while at Sprint, and his knowledge will be essential as ACS delivers innovative new offerings to its customers. -- Andrew Coon coon: see raccoon. joined as Director of Business Sales and Service from GCI GCI Ground Circuit Interrupter GCI Getty Conservation Institute GCI Global Commerce Initiative GCI Green Cross International (non-profit international environmental organization) GCI Growth Competitiveness Index GCI Great Cities Institute , where he was the Director of Major Strategic Accounts and the former Vice President of Sales. Andrew brings in depth knowledge of the Alaskan business market and will help solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. ACS' leading position in providing telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. to businesses in the state of Alaska Alaska (əlă`skə), largest in area of the United States but third smallest (exceeding only Vermont and Wyoming) in population, occupying the northwest extremity of the North American continent, separated from the coterminous United States . -- ACS announced the appointments of John M. Egan and Patrick Pichette to its board of directors. John is the recently retired founder and chairman/CEO of ARRIS ar·ris n. pl. arris or ar·ris·es The sharp edge or ridge formed by two surfaces meeting at an angle, as in a molding. [Alteration of Old French areste, fishbone, spine Group (Nasdaq:ARRS ARRS American Roentgen Ray Society. ). Patrick is Executive Vice-President vice president or vice-pres·i·dent n. Abbr. VP 1. An officer ranking next below a president, usually empowered to assume the president's duties under conditions such as absence, illness, or death. 2. at Bell Canada Bell Canada Enterprises (TSX: BCE, NYSE: BCE), legally BCE Inc., is a major Canadian telecommunications company. Through its subsidiaries including Bell Canada, Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for , and was also previously a partner at McKinsey & Co. Revenues for the year ended December 31, 2003 were $323.5 million compared to $340.1 million for the year ended 2002. The Company's net loss for 2003 was $6.6 million, or $0.22 per share compared to a net loss of $185.2 million, or $5.89 per share in 2002. EBITDA from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the was $100.1 million for the full year 2003 compared to $129.3 million for 2002. During the year, the Company incurred cash charges of $12.5 million related primarily to the State of Alaska contract termination Defense procurement: the cessation or cancellation, in whole or in part, of work under a prime contract or a subcontract thereunder for the convenience of, or at the option of, the government, or due to failure of the contractor to perform in accordance with the terms of the contract (default). , management changes and M&A costs. Excluding these charges, adjusted EBITDA was $112.6 million for 2003. ACS will host a conference call at 5:00 P.M. Eastern time today to discuss its fourth quarter results. The access dial-in number for the call is 800-218-0713 for domestic callers or 303-262-2211 for international callers. In order to ensure participation by phone, please dial-in 10 minutes prior to the scheduled start time. The Webcast will be available live from the Company's Investor website at www.alsk.com. An audio replay of the call will also be available two hours after the call for a period of 48 hours by dialing 800-405-2236 and entering the passcode 568311. About Alaska Communications Systems - ACS is the leading integrated communications provider in Alaska, offering local telephone service, wireless, long distance, data, and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the services to business and residential customers throughout Alaska. ACS currently serves approximately 314,000 access lines, 87,000 cellular customers, 43,000 long distance customers and 46,000 Internet customers throughout the State. More information can be found on the Company's website at http://www.alsk.com. In addition to historical information, this release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , estimates and projections that are based on current expectations only, and are subject to a number of risks, uncertainties and assumptions, many of which are beyond the control of Alaska Communications. Actual events and results may differ materially from those anticipated, estimated or projected if one or more of these risks or uncertainties materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. , or if underlying assumptions prove incorrect. Factors that could affect actual results include but are not limited to: rapid technological developments and changes in the telecommunications industries; ongoing deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. in the telecommunications industry as a result of the Telecommunications Act There are several laws named the Telecommunications Act
adj. Not available, accessible, or at hand. un  a·vail of SFAS SFAS Statement of Financial Accounting StandardsSFAS Special Forces Assessment and Selection SFAS Student Financial Aid Services SFAS Sport Fishing Association of Singapore SFAS Safety Features Actuation System SFAS Statewide Fixed Assets System No. 71 to the Company's wireline subsidiaries; and possible changes in the demand for the Company's products and services. In addition to these factors, actual future performance, outcomes and results may differ materially because of other, more general, factors including (without limitation) changes in general industry and market conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. ; changes in interest rates or other general national, regional or local economic conditions; governmental and public policy changes; changes in accounting policies or practices adopted voluntarily or as required by accounting principles generally accepted in the United States of America UNITED STATES OF AMERICA. The name of this country. The United States, now thirty-one in number, are Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, ; and the continued availability of financing in the amounts, at the terms and on the conditions necessary to support the Company's future business. These and other uncertainties related to the Company's business are described in greater detail in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2002, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and its quarterly report on Form 10-Q Form 10-Q See 10-Q. for the nine months ended September September: see month. 30, 2003, as amended. The information contained in this release is as of February 26, 2004. The Company undertakes no obligation to update or revise any of this information whether as a result of new information, future events or developments, or otherwise.
Schedule 1
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three Months and Year Ended December 31, 2003 and 2002
(Unaudited, in Thousands, Except per Share Amounts)
Three Months Ended Year Ended
December 31, December 31,
------------------- ---------------------
2003 2002 2003 2002
-------- -------- --------- ---------
Operating revenues:
Local telephone $ 52,915 $ 54,319 $ 215,387 $ 226,447
Wireless 11,680 10,760 46,548 43,180
Directory - 8,222 11,631 33,604
Internet 8,610 6,032 33,026 20,847
Interexchange 4,333 4,075 16,956 16,066
-------- -------- --------- ---------
Total operating
revenues 77,538 83,408 323,548 340,144
Operating expenses:
Local telephone 32,087 26,361 116,354 114,582
Wireless 9,268 8,023 31,064 29,352
Directory - 3,804 5,249 14,170
Internet 9,694 9,395 45,523 31,299
Interexchange 7,656 6,153 25,542 23,647
Depreciation and
amortization 15,450 21,250 82,185 82,940
Contract termination and
asset impairment charges 319 - 54,858 -
Loss (gain) on disposal of
assets, net (115) 55 (112,622) 2,163
Goodwill impairment loss - 64,755 - 64,755
-------- -------- --------- ---------
Total operating
expenses 74,359 139,796 248,153 362,908
Operating income (loss) 3,179 (56,388) 75,395 (22,764)
Other income and expense:
Interest expense (19,992) (13,302) (71,470) (51,704)
Interest income and other 713 577 (9,408) 2,203
-------- -------- --------- ---------
Total other income
(expense) (19,279) (12,725) (80,878) (49,501)
-------- -------- --------- ---------
Income (loss) before
income taxes (16,100) (69,113) (5,483) (72,265)
Income taxes (1,095) - (1,095) -
-------- -------- --------- ---------
Loss from continuing
operations (17,195) (69,113) (6,578) (72,265)
Loss from discontinued
operations - (109) (52) (7,632)
-------- -------- --------- ---------
Loss before cumulative
effect of change in
accounting principle (17,195) (69,222) (6,630) (79,897)
Cumulative effect of change
in accounting principle,
net of tax - - - (105,350)
-------- -------- --------- ---------
Net loss $(17,195) $(69,222) $ (6,630) $(185,247)
======== ======== ========= =========
Loss per share
- basic and diluted:
Loss from continuing
operations $ (0.58) $ (2.25) $ (0.22) $ (2.30)
Loss from discontinued
operations - (0.00) (0.00) (0.24)
Cumulative effect of
change in accounting
principle, net of tax - - - (3.35)
-------- -------- --------- ---------
Net loss $ (0.58) $ (2.25) $ (0.22) $ (5.89)
======== ======== ========= =========
Weighted average shares
outstanding:
Basic 29,429 30,702 29,980 31,464
======== ======== ========= =========
Diluted 29,429 30,702 29,980 31,474
======== ======== ========= =========
EBITDA from continuing
operations $ 24,245 $ 30,249 $ 100,066 $ 129,297
======== ======== ========= =========
Note: Certain reclassifications have been made to the 2002 data to
conform with the current presentation.
Schedule 2
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONSOLIDATED BALANCE SHEETS
December 31, 2003 and 2002
(Unaudited, In Thousands Except Per Share Amounts)
December 31, December 31,
Assets 2003 2002
---------- ----------
Current assets:
Cash and cash equivalents $ 97,798 $ 18,565
Restricted cash 3,635 3,440
Accounts receivable-trade, net of
allowance of $4,432 and $6,075 41,718 48,820
Materials and supplies 10,099 11,203
Prepayments and other current assets 5,850 6,172
Assets held for sale - 261
---------- ----------
Total current assets 159,100 88,461
Property, plant and equipment 1,041,904 1,090,365
Less: Accumulated depreciation and
amortization 603,760 574,387
---------- ----------
Property, plant and equipment, net 438,144 515,978
Goodwill 38,403 77,225
Intangible Assets 22,055 23,269
Debt issuance costs, net of amortization
of $5,417 and $16,365 18,939 21,529
Deferred charges and other assets 8,750 26,047
---------- ----------
Total assets $ 685,391 $ 752,509
========== ==========
Liabilities and Stockholders' Equity
Current liabilities:
Current portion of long-term obligations $ 1,982 $ 5,649
Accounts payable-affiliate 2,215 1,319
Accounts payable, accrued and other
current liabilities 50,170 49,796
Income taxes payable 1,095 -
Advance billings and customer deposits 8,766 9,804
---------- ----------
Total current liabilities 64,228 66,568
Long-term obligations, net of
current portion 548,238 602,114
Other deferred credits and
long-term liabilities 71,065 83,819
Commitments and contingencies - -
Stockholders' equity:
Preferred stock, no par, 5,000
authorized, no shares issued and
outstanding - -
Common stock, $.01 par value; 145,000
shares authorized, 33,611 and 33,481
shares issued and 29,343 and 30,745
outstanding, respectively 336 334
Common stock, $.01 par value; 267 shares
subject to mandatory redemption (1,198) -
Treasury stock, 4,268 and 2,737 shares,
respectively, at cost (17,118) (12,082)
Paid in capital in excess of par value 278,181 277,810
Accumulated deficit (253,798) (247,168)
Accumulated other comprehensive loss (4,543) (18,886)
---------- ----------
Total stockholders' equity 1,860 8
---------- ----------
Total liabilities and
stockholders' equity $ 685,391 $ 752,509
========== ==========
Schedule 3
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
SCHEDULE OF LOCAL TELEPHONE REVENUES
For the Three Months and Year Ended December 31, 2003 and 2002
(Unaudited, in Thousands)
Three Months Ended Twelve Months Ended
December 31, December 31,
----------------- -------------------
2003 2002 2003 2002
------- ------- -------- --------
Local telephone revenues:
Local network service $22,987 $24,642 $ 96,357 $ 99,512
Network access revenue 23,808 24,508 97,759 108,335
Deregulated and other 6,120 5,169 21,271 18,600
------- ------- -------- --------
Local telephone revenues $52,915 $54,319 $215,387 $226,447
======= ======= ======== ========
Notes: During the second quarter of 2002, the Company recognized as
revenue $11,066 of previously deferred interstate access
revenues related to a dispute on interstate access rates for
the Anchorage market based on a favorable ruling by the
District of Columbia Court of Appeals.
Schedule 4
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
SCHEDULE OF EBITDA CALCULATION
For the Three Months and Year Ended December 31, 2003 and 2002
(Unaudited, in Thousands)
Three Months Ended Year Ended
December 31, December 31,
------------------- -------------------
2003 2002 2003 2002
-------- -------- -------- --------
Income (loss) from
continuing operations $(17,195) $(69,113) $ (6,578) $(72,265)
Add (subtract):
Interest expense 19,992 13,302 71,470 51,704
Income taxes 1,095 - 1,095 -
Depreciation and
amortization 15,450 21,250 82,185 82,940
Gain on foreign
exchange - - (4,261) -
Loss (gain) on
disposal of assets
and asset impairment
charges, net (115) 55 (48,863) 2,163
Goodwill impairment
loss - 64,755 - 64,755
Stock based
compensation 900 - 900 -
Non-cash pension
expense 238 - 238 -
Non-cash litigation
reserves 3,880 - 3,880 -
-------- -------- -------- --------
EBITDA from continuing
operations $ 24,245 $ 30,249 $100,066 $129,297
======== ======== ======== ========
Notes: EBITDA is presented as an additional means of evaluating the
Company's ability to satisfy rating agency and creditor
requirements. The Company incurs significant non-cash charges,
including depreciation and amortization, related to the capital
assets utilized in its operations. EBITDA is a central measure
used in the Company's compliance with debt covenants related to
its senior credit facility. EBITDA as defined by the senior
credit facility's credit agreement is net income before
interest expense, provisions for taxes, depreciation expense,
amortization expense, other noncash charges, and unusual gains.
The credit agreement also calls for excluding the EBITDA of any
business disposed of during the period. Using this information
along with income from continuing operations provides for a
more complete analysis of results of operations. Income from
continuing operations is the most directly comparable GAAP
measure.
Schedule 5
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
KEY OPERATING STATISTICS
As of December 31, 2003 and 2002
As of December 31,
---------------------
2003 2002
-------- --------
Local telephone:
Retail access lines 220,818 236,148
Wholesale access lines 19,157 22,148
UNE loop lines 68,914 62,091
UNE platform lines 5,332 2,620
-------- --------
Total local telephone access lines 314,221 323,007
======== ========
Average local telephone access lines
for the quarter 315,105 325,084
Average local telephone revenue per line
for the quarter $ 55.98 $ 55.70
Quarterly growth rate in local telephone
access lines -2.7% -3.0%
Wireless
Covered population 480,422 478,413
Ending subscribers 87,017 82,220
Average subscribers for the quarter 85,505 81,890
Quarterly growth rate 3.6% 0.8%
Activations for the quarter 6,865 6,718
Deactivations for the quarter 3,841 6,057
Average monthly churn for the quarter 1.4% 2.3%
Penetration 18.1% 17.2%
Quarterly minutes of use (000's) 59,327 49,780
Average revenue per subscriber
for the quarter $ 45.53 $ 43.80
Long Distance:
Long distance subscribers 43,166 70,000
Quarterly minutes of use (000's) 35,795 37,897
Average subscribers for the quarter 43,333 68,615
Average monthly revenue per subscriber
for the quarter $ 33.33 $ 19.80
Internet:
DSL subscribers 17,780 12,590
Dial-Up and other service subscribers 28,277 33,791
-------- --------
Total Internet subscribers 46,057 46,381
======== ========
Average subscribers for the quarter 45,704 46,520
Average revenue per subscriber for the quarter $ 31.64 $ 26.03
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