CTC Communications Group Declares 3 for 2 Stock Split; --Management's Confidence in Steady and Continuing Growth Prompts Split--.Business/Technology Editors WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 22, 2000 CTC CTC - Cornell Theory Center Communications Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPTL CPTL Compagnie des Pétroles Total Libye (Total SA Group Affiliates) CPTL Center for Trade Policy and Law (Carleton University; Ottawa, Canada) )--a rapidly expanding provider of state-of-the-art integrated communications solutions for medium-to-large enterprises in the Northeast United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. today announced that the Board of Directors has declared a three for two stock split. Each shareholder of record at the close of business on March 6, 2000 will receive one additional share for every two shares owned. The payable date will be on or about March 17, 2000. Robert Fabbricatore, CTC's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "Steady growth in the price of the Company's common stock during the past six months is reflective of the rapid expansion of the Company as a facilities based provider of communications services. The decision to declare the stock split was based on the steady increase in revenues, continuing improvement in operating results and management's confidence that these trends should continue." About CTC Communications CTC is a rapidly growing, full-service Integrated Communications Provider (ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. ) delivering converged voice, data, Internet and video solutions to medium and larger business customers in the most robust telecommunications region in the world--the Washington D.C. to Boston corridor. Recently designated by Bloomberg Personal Finance Magazine as one of the top "one hundred fastest growing U.S. technology companies," CTC was serving more than 12,000 customers with 269,000+ access lines as of December 31, 1999. Central to the Company's performance and future growth is its Cisco-powered IP+ATM Integrated Communications Network (ICN ICN International Council of Nurses. ) named IntelliNET(SM), which is deployed across 8 contiguous northeast states. CTC markets its full portfolio of services through its 375 member sales and service representatives located in 28 branch offices throughout the New England States, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey and Maryland. The Company, through its dedicated commitment to exceptional customer service, has achieved an industry-leading market share in the northeast and an industry-leading monthly line retention rate in excess of 99 percent. CTC can be found on the worldwide web at www.ctcnet.com The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risk and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements including continued revenue growth and improvement in operating results. Readers are, accordingly, cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Additional information about these risks and uncertainties is set forth in the Company's most recent report on Form 10-Q Form 10-Q See 10-Q. . CTC undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect results, events or circumstances after the date hereof. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion