D&E Communications, Inc., Completes Sale of Its Interest in PenTeleData.EPHRATA, Pa. -- D&E Communications, Inc. (Nasdaq:DECC DECC Duluth Entertainment Convention Center (Duluth, MN) DECC Defense Enterprise Computing Centers DECC Distance Education Coordinating Council DECC Danish-Estonian Chamber of Commerce (Tallinn, Estonia) ) sold its 8.19 percent interest in the PenTeleData Limited Partnership I on February 28, 2005, for $2.9 million. The sale will result in a pre-tax gain of $2.1 million in the first quarter of 2005. Founded in 1994 and based in Palmerton, PA, PenTeleData provides Internet service and data connectivity in Pennsylvania and New Jersey. D&E acquired the partnership interest in PenTeleData when it acquired Conestoga Enterprises, Inc., in 2002. Conestoga Telephone and Telegraph Company, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Conestoga Enterprises, Inc., had been a limited partner in PenTeleData since 1995. Since D&E operates its own Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , the partnership was no longer a strategic fit in the organization, and D&E pursued a sale of its interest. D&E is an integrated communications provider offering high-speed data, Internet access See how to access the Internet. , local and long distance telephone, voice and data networking, network management and security, and video services. Based in Lancaster County Lancaster County is the name of four counties in the United States:
This press release may contain 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. . These statements are based upon the current beliefs and expectations of D&E's management concerning the development of our business, are not guarantees of future performance and involve a number of risks, uncertainties, and other important factors that could cause actual developments and results to differ materially from our expectations. These include factors that we have indicated could adversely affect our business and financial performance contained in our past and future filings and reports, including those filed with the 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. Securities and Exchange Commission. D&E undertakes no obligation to revise or update its forward-looking statements whether as a result of new information, future events, or otherwise. |
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