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2003
Highlights
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 Defended
our customer-satisfaction leadership in the industry |
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Expanded
high-speed DSL
availability to 19 additional ILEC
markets |
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Increased
high-speed data lines 109 percent in our ILEC and CLEC
markets, to 44,000 |
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Prepared
for the launch of TDS e-Pay, our electronic bill presentment
and payment service |
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Raised
productivity throughout the company through process improvements |
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Leveraged
best practices between our ILEC and CLEC operations |
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Continued
to expand our CLEC
operations in our existing Midwest markets |
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Launched
new products in residential and business segments |
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Introduced
new product bundles for consumer calling |
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Continued
to work with regulators and legislators to make clear
our customers’ interests |
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Once
again in 2003, we set out with a solid strategy.
As always, execution of the strategy is key, and
we have an outstanding team of employees who made it happen.
We stayed focused on the customer and sought to increase
brand value, while producing solid financial results.
We are pleased to announce another good year for TDS Telecom.
It was not, however, an easy year. We are proud of the
accomplishments of our team as they maintained focus on
the customer and managed through economic uncertainty
in highly competitive markets. We knew proper execution
of the strategy would demand our full attention, and it
did.
Strength in numbers.
Top-line growth and the achievement of earnings objectives
are also critical measures of success. For 2003, TDS Telecom’s
overall operating revenues increased 8 percent, totaling
$862 million. Core ILEC revenues grew 4 percent to $653
million, and CLEC revenues rose 21 percent to $214 million.
Our capital expenditures for the year were $112 million
in our ILEC markets and $27 million in our CLEC markets.
We are very disciplined
in our business planning, with a growth strategy that
will build value for shareholders and provide opportunities
for employees. At TDS Telecom, our customers define our
success. We have a strategy to succeed by delighting customers
in every way with solid product offerings and our unrelenting
commitment to service.
We anticipated an eventual
slowing of growth in our core ILEC business more than
six years ago, so we started our CLEC business to maintain
strong growth. As planned, our CLEC markets are key to
our overall growth, and our CLEC business continues to
be one of the few success stories in the competitive telecommunications
industry. CLEC lines now represent 34 percent of total
lines.
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