-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SMvmh9XhKQ390m3UkLwqX0HnIEGJA4U1FB0uv+safpHwHMLWkkyaQCM2OxFl2izJ oAzkSWPas8mfGGGa2FDr3A== /in/edgar/work/0000018926-00-000014/0000018926-00-000014.txt : 20001114 0000018926-00-000014.hdr.sgml : 20001114 ACCESSION NUMBER: 0000018926-00-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000930 ITEM INFORMATION: FILED AS OF DATE: 20001113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTURYTEL INC CENTRAL INDEX KEY: 0000018926 STANDARD INDUSTRIAL CLASSIFICATION: [4813 ] IRS NUMBER: 720651161 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07784 FILM NUMBER: 758345 BUSINESS ADDRESS: STREET 1: P O BOX 4065 STREET 2: 100 CENTURY PARK DR CITY: MONROE STATE: LA ZIP: 71203 BUSINESS PHONE: 3183889000 MAIL ADDRESS: STREET 1: 100 CENTURY PARK DR STREET 2: P O BOX 4065 CITY: MONROE STATE: LA ZIP: 71203 FORMER COMPANY: FORMER CONFORMED NAME: CENTURY TELEPHONE ENTERPRISES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: CENTRAL TELEPHONE & ELECTRONICS CORP DATE OF NAME CHANGE: 19720512 8-K 1 0001.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) October 26, 2000 CenturyTel, Inc. (Exact name of registrant as specified in its charter) Louisiana 1-7784 72-0651161 (State or other (Commission File (IRS Employer jurisdiction of Number) Identification No.) incorporation) 100 CenturyTel Drive, Monroe, Louisiana 71203 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (318) 388-9000 Item 5. Other Events The following press release was issued by CenturyTel,Inc. on October 26, 2000: FOR IMMEDIATE RELEASE: FOR MORE INFORMATION CONTACT: October 26, 2000 Media: Patricia Cameron (318) 388-9674 patricia.cameron@centurytel.com Investors: Jeffrey S. Glover (318) 388-9648 jeff.glover@centurytel.com CenturyTel Achieves 16 Percent Third Quarter Revenue Growth Fueled by - --------------------------------------------------------------------- Acquisitions and Strong Core Business Unit Performance - ------------------------------------------------------ Monroe, LA . . CenturyTel, Inc.(NYSE Symbol: CTL) announces operating results for third quarter 2000. o Revenues from recurring operations climbed 16.4% to $482.1 million. o Earnings from recurring operations before interest, taxes, depreciation, amortization and gain on sales of assets, advanced 16.7% to $260.0 million. o Net income from recurring operations increased 3.9% to $66.6 million. o Diluted earnings per share from recurring operations rose 4.4% to $.47. o Cash earnings per share from recurring operations increased 7.5% to $.57. - -------------------------------------------------------------------- Third Quarter Highlights* (Dollars, except per share Quarter Ended Quarter Ended amounts, in thousands) 9/30/00 9/30/99 % Change - -------------------------------------------------------------------- Revenues (1) $ 482,067 $ 413,979 16.4% EBITDA (2) $ 260,020 $ 222,807 16.7% Net Income (3) $ 66,646 $ 64,175 3.9% Diluted Earnings Per Share (3) $ .47 $ .45 4.4% Average Diluted Shares Outstanding 141,848 141,504 0.2% Telephone Revenues (1) $ 324,608 $ 273,644 18.6% Wireless Revenues $ 120,232 $ 109,778 9.5% Other Operations Revenues $ 37,227 $ 30,557 21.8% - -------------------------------------------------------------------- Telephone Access Lines 1,800,728 1,263,036 42.6% Wireless Units in Majority-Owned Markets 741,183 640,311 15.8% - -------------------------------------------------------------------- *Excluding the effects of asset divestitures and nonrecurring gains and losses (1) Includes $41.0 million revenue contribution from acquisitions in third quarter 2000 (2) Earnings from recurring operations before interest, taxes, depreciation, amortization and gain on sales of assets (3) Excludes one-time net gains of $1.3 million, or $.01 per share, in third quarter 2000 and $741,000, or $.005 per share, in third quarter 1999 ----------------------------- "CenturyTel achieved strong operating results for the quarter driven by excellent revenue and cash flow growth," Glen F. Post, III, President and Chief Executive Officer, said. "The Verizon acquisitions were completed this quarter, and the integration is on track. Our revenue growth was driven by acquisitions, increased digital wireless customers, and higher data services revenue." Net income from recurring operations for the quarter rose 3.9% to $66.6 million from $64.2 million in third quarter 1999. Diluted earnings per share from recurring operations increased 4.4% to $.47 from $.45. Cash earnings per share from recurring operations increased 7.5% to $.57 from $.53. Consolidated revenues from recurring operations rose 16.4% to $482.1 million from $414.0 million. EBITDA from recurring operations grew to $260.0 million from $222.8 million, a 16.7% increase. CenturyTel achieved a consolidated EBITDA margin of 53.9% during the quarter. "The acquisition of nearly 500,000 telephone access lines from Verizon this quarter represents a 40% increase in our telephone operations. We look forward to realizing a full revenue contribution from these acquisitions in the fourth quarter," Post said. Telephone revenues grew 18.6% to $324.6 million during the quarter, compared with $273.6 million in third quarter 1999. The Verizon acquisitions contributed $41.0 million to quarterly revenues. Telephone operating income increased 22.2%, reaching $99.8 million from $81.6 million, and EBITDA rose 23.4% to $182.1 million from $147.6 million a year ago. CenturyTel's third quarter telephone EBITDA margin was 56.1% while the operating income margin was 30.7%. "CenturyTel's rollout of high-speed Internet access continues to gain momentum. At the end of the third quarter, high-speed Internet access via DSL was available to 26% of CenturyTel's telephone access lines, excluding newly acquired markets," Post said. Wireless revenues from recurring operations grew 9.5% to $120.2 million in third quarter 2000, compared with $109.8 million in third quarter 1999. Wireless operating income from recurring operations was $39.3 million compared to $40.0 million in 1999, and EBITDA from recurring operations was $55.4 million compared to $56.9 million a year ago. CenturyTel's third quarter wireless EBITDA margin was 46.1% (47.4% based on service revenues), and operating income margin was 32.7% (33.6% based on service revenues). Average monthly cellular service revenue per user (ARPU) was $52 during third quarter 2000, an 8.8% decrease from $57 a year ago. CenturyTel added 21,900 contract customers while 30,100 non-revenue-generating prepaid customers were disconnected during the quarter. The average monthly contract customer churn rate was 1.9%. "The addition of 21,900 contract customers this quarter compares with 1,100 contract additions in third quarter 1999. The vast majority of these new customers are on digital rate plans that typically produce an above average ARPU. We continue to focus on adding contract customers while decreasing our focus on prepaid plans for customer growth," Post said. Other operations revenues from recurring operations grew 21.8% to $37.2 million during third quarter 2000, compared with $30.6 million in third quarter 1999. CenturyTel's long distance business generated $4.5 million of the increase in other operations revenues. CenturyTel now serves more than 347,000 long distance customers, adding nearly 21,000 during the quarter. During the first nine months of 2000, net income from recurring operations was $174.0 million, a 3.3% decrease from $179.9 million in 1999. Diluted earnings per share from recurring operations declined 3.1% to $1.23 from $1.27, and cash earnings per share declined 1.3% to $1.49 from $1.51. Consolidated revenues from recurring operations rose 11.0% to $1.3 billion from $1.2 billion. EBITDA grew to $683.9 million from $646.5 million, a 5.8% increase. Free cash flow generation was $130.3 million during the first nine months of 2000. During the third quarter 2000, CenturyTel borrowed $1.46 billion under its credit facilities to finance the Verizon acquisitions. A substantial portion of this debt was refinanced longer term with the issuance of $900 million of senior notes in mid-October 2000. In addition to historical information, this release includes certain forward-looking statements that are subject to uncertainties that could cause the Company's actual results to differ materially from such statements. Such uncertainties include but are not limited to: the Company's ability to effectively manage its growth; including integrating newly acquired businesses into our operations; hiring adequate numbers of qualified staff and successfully upgrading our billing and other information systems; the inherent risk of rapid technological change; the effects of regulatory decisions affecting the Company or the telecommunications industry generally; the effects of greater than anticipated competition in the Company's markets; possible changes in the demand for the Company's products and services; the Company's ability to successfully introduce new offerings on a timely and cost-effective basis; and the effects of more general factors such as changes in overall market or economic conditions or in legislation, regulation or public policy. 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 for the year ended December 31, 1999. Investors can access CenturyTel's earnings conference call and replay by accessing the company's website at (www.centurytel.com) A separate dial-up replay number is available until the close of business on Monday, October 30. The replay number is 1-800-625-5288 and the access code is 827283. CenturyTel, Inc. provides communications services including local exchange, wireless, long distance, Internet access and security monitoring services to nearly three million customers in 21 states. The company, headquartered in Monroe, Louisiana, is publicly traded on the New York Stock Exchange under the symbol CTL. CenturyTel is the 8th largest local exchange telephone company, based on access lines, and the 8th largest cellular company, based on population equivalents owned, in the United States. Visit CenturyTel's corporate website at (www.centurytel.com) CenturyTel, Inc. CONSOLIDATED STATEMENTS OF INCOME THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 (UNAUDITED)
INCREASE In thousands, except per share amounts 2000 1999 (DECREASE) - -------------------------------------------------------------------------------- TELEPHONE OPERATIONS Operating revenues Local service $ 106,304 86,010 23.6% Network access 187,254 159,682 17.3% Other 31,050 27,952 11.1% - ---------------------------------------------------------------- 324,608 273,644 18.6% - ---------------------------------------------------------------- Operating expenses Plant operations 76,086 64,076 18.7% Customer operations 28,623 21,398 33.8% Corporate and other 37,766 40,548 (6.9%) Depreciation and amortization 82,380 66,014 24.8% - ---------------------------------------------------------------- 224,855 192,036 17.1% - ---------------------------------------------------------------- Telephone operating income 99,753 81,608 22.2% - ---------------------------------------------------------------- WIRELESS OPERATIONS Operating revenues Service revenues 116,862 109,318 6.9% Equipment sales 3,370 2,334 44.4% - ---------------------------------------------------------------- 120,232 111,652 7.7% - ---------------------------------------------------------------- Operating expenses Cost of equipment sold 7,192 4,200 71.2% System operations 19,749 13,864 42.4% General, administrative and customer service 18,796 22,128 (15.1%) Sales and marketing 19,081 13,588 40.4% Depreciation and amortization 16,134 17,167 (6.0%) - ---------------------------------------------------------------- 80,952 70,947 14.1% - ---------------------------------------------------------------- Wireless operating income 39,280 40,705 (3.5%) - ---------------------------------------------------------------- OTHER OPERATIONS Operating revenues 37,794 33,909 11.5% - ---------------------------------------------------------------- Operating expenses Cost of sales and other 28,542 25,044 14.0% Depreciation and amortization 1,226 1,119 9.6% - ---------------------------------------------------------------- 29,768 26,163 13.8% - ---------------------------------------------------------------- Other operating income 8,026 7,746 3.6% - ---------------------------------------------------------------- TOTAL OPERATING INCOME 147,059 130,059 13.1% OTHER INCOME (EXPENSE) Gain on sales of assets 10,683 1,201 789.5% Interest expense (48,904) (34,997) 39.7% Income from unconsolidated cellular entities 11,366 10,801 5.2% Minority interest (2,889) (3,460) (16.5%) Other income and expense (4,065) 1,108 (466.9%) Income tax expense (46,026) (40,183) 14.5% - ---------------------------------------------------------------- NET INCOME $ 67,224 64,529 4.2% ================================================================ EARNINGS PER SHARE Basic (1) $ 0.48 0.46 4.3% Diluted (2) $ 0.47 0.46 2.2% SHARES OUTSTANDING Basic 140,220 139,085 0.8% Diluted 141,848 141,504 0.2% DIVIDENDS PER COMMON SHARE $ 0.0475 0.0450 5.6% (1) Excluding the effect of asset divestitures and nonrecurring gains and losses, basic earnings per share were $.47 and $.46 for 2000 and 1999, respectively (2) Excluding the effect of asset divestitures and nonrecurring gains and losses, diluted earnings per share were $.47 and $.45 for 2000 and 1999, respectively
CenturyTel, Inc. CONSOLIDATED STATEMENTS OF INCOME THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 (UNAUDITED)
Excludes the effect of asset divestitures and nonrecurring gains and losses INCREASE In thousands, except per share amounts 2000 1999 (DECREASE) - -------------------------------------------------------------------------------- TELEPHONE OPERATIONS Operating revenues Local service $ 106,304 86,010 23.6% Network access 187,254 159,682 17.3% Other 31,050 27,952 11.1% - ---------------------------------------------------------------- 324,608 273,644 18.6% - ---------------------------------------------------------------- Operating expenses Plant operations 76,086 64,076 18.7% Customer operations 28,623 21,398 33.8% Corporate and other 37,766 40,548 (6.9%) Depreciation and amortization 82,380 66,014 24.8% - ---------------------------------------------------------------- 224,855 192,036 17.1% - ---------------------------------------------------------------- Telephone operating income 99,753 81,608 22.2% - ---------------------------------------------------------------- WIRELESS OPERATIONS Operating revenues Service revenues 116,862 107,584 8.6% Equipment sales 3,370 2,194 53.6% - ---------------------------------------------------------------- 120,232 109,778 9.5% - ---------------------------------------------------------------- Operating expenses Cost of equipment sold 7,192 4,055 77.4% System operations 19,749 13,444 46.9% General, administrative and customer service 18,796 21,811 (13.8%) Sales and marketing 19,081 13,560 40.7% Depreciation and amortization 16,134 16,909 (4.6%) - ---------------------------------------------------------------- 80,952 69,779 16.0% - ---------------------------------------------------------------- Wireless operating income 39,280 39,999 (1.8%) - ---------------------------------------------------------------- OTHER OPERATIONS Operating revenues 37,227 30,557 21.8% - ---------------------------------------------------------------- Operating expenses Cost of sales and other 27,108 20,836 30.1% Depreciation and amortization 1,140 868 31.3% - ---------------------------------------------------------------- 28,248 21,704 30.2% - ---------------------------------------------------------------- Other operating income 8,979 8,853 1.4% - ---------------------------------------------------------------- TOTAL OPERATING INCOME 148,012 130,460 13.5% OTHER INCOME (EXPENSE) Interest expense (48,806) (34,974) 39.5% Income from unconsolidated cellular entities 11,366 10,801 5.2% Minority interest (2,889) (3,460) (16.5%) Other income and expense 3,877 1,215 219.1% Income tax expense (44,914) (39,867) 12.7% - ---------------------------------------------------------------- NET INCOME $ 66,646 64,175 3.9% ================================================================ EARNINGS PER SHARE Basic $ 0.47 0.46 2.2% Diluted $ 0.47 0.45 4.4% SHARES OUTSTANDING Basic 140,220 139,085 0.8% Diluted 141,848 141,504 0.2% DIVIDENDS PER COMMON SHARE $ 0.0475 0.0450 5.6%
CenturyTel, Inc. CONSOLIDATED STATEMENTS OF INCOME NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 (UNAUDITED)
INCREASE In thousands, except per share amounts 2000 1999 (DECREASE) - -------------------------------------------------------------------------------- TELEPHONE OPERATIONS Operating revenues Local service $ 284,896 266,119 7.1% Network access 510,440 482,626 5.8% Other 82,286 88,069 (6.6%) - ---------------------------------------------------------------- 877,622 836,814 4.9% - ---------------------------------------------------------------- Operating expenses Plant operations 198,625 188,226 5.5% Customer operations 76,893 66,039 16.4% Corporate and other 117,634 116,305 1.1% Depreciation and amortization 217,371 205,969 5.5% - ---------------------------------------------------------------- 610,523 576,539 5.9% - ---------------------------------------------------------------- Telephone operating income 267,099 260,275 2.6% - ---------------------------------------------------------------- WIRELESS OPERATIONS Operating revenues Service revenues 320,836 312,873 2.5% Equipment sales 10,942 7,372 48.4% - ---------------------------------------------------------------- 331,778 320,245 3.6% - ---------------------------------------------------------------- Operating expenses Cost of equipment sold 21,728 13,848 56.9% System operations 51,782 42,394 22.1% General, administrative and customer service 56,423 60,113 (6.1%) Sales and marketing 60,637 41,130 47.4% Depreciation and amortization 49,225 50,963 (3.4%) - ---------------------------------------------------------------- 239,795 208,448 15.0% - ---------------------------------------------------------------- Wireless operating income 91,983 111,797 (17.7%) - ---------------------------------------------------------------- OTHER OPERATIONS Operating revenues 109,346 93,152 17.4% - ---------------------------------------------------------------- Operating expenses Cost of sales and other 81,331 70,556 15.3% Depreciation and amortization 3,724 3,361 10.8% - ---------------------------------------------------------------- 85,055 73,917 15.1% - ---------------------------------------------------------------- Other operating income 24,291 19,235 26.3% - ---------------------------------------------------------------- TOTAL OPERATING INCOME 383,373 391,307 (2.0%) OTHER INCOME (EXPENSE) Gain on sales of assets 20,593 51,160 (59.7%) Interest expense (120,213) (114,725) 4.8% Income from unconsolidated cellular entities 19,382 26,913 (28.0%) Minority interest (8,052) (25,560) (68.5%) Other income and expense 2,548 6,722 (62.1%) Income tax expense (123,278) (156,721) (21.3%) - ---------------------------------------------------------------- NET INCOME $ 174,353 179,096 (2.6%) ================================================================ EARNINGS PER SHARE Basic (1) $ 1.24 1.29 (3.9%) Diluted (2) $ 1.23 1.27 (3.1%) SHARES OUTSTANDING Basic 139,989 138,668 1.0% Diluted 141,769 141,331 0.3% DIVIDENDS PER COMMON SHARE $ 0.1425 0.1350 5.6% (1) Excluding the effects of asset divestitures and nonrecurring gains and losses, basic earnings per share were $1.24 and $1.30 for 2000 and 1999, respectively (2) Excluding the effects of asset divestitures and nonrecurring gains and losses, basic earnings per share were $1.23 and $1.27 for 2000 and 1999, respectively
CenturyTel, Inc. CONSOLIDATED STATEMENTS OF INCOME NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 (UNAUDITED) Excludes the effect of asset divestitures and nonrecurring gains and losses INCREASE In thousands, except per share amounts 2000 1999 (DECREASE) - -------------------------------------------------------------------------------- TELEPHONE OPERATIONS Operating revenues Local service $ 284,896 251,708 13.2% Network access 510,440 460,442 10.9% Other 82,286 81,748 0.7% - ---------------------------------------------------------------- 877,622 793,898 10.5% - ---------------------------------------------------------------- Operating expenses Plant operations 198,625 176,213 12.7% Customer operations 76,893 62,230 23.6% Corporate and other 117,634 112,778 4.3% Depreciation and amortization 217,371 195,472 11.2% - ---------------------------------------------------------------- 610,523 546,693 11.7% - ---------------------------------------------------------------- Telephone operating income 267,099 247,205 8.0% - ---------------------------------------------------------------- WIRELESS OPERATIONS Operating revenues Service revenues 320,824 301,433 6.4% Equipment sales 10,860 6,939 56.5% - ---------------------------------------------------------------- 331,684 308,372 7.6% - ---------------------------------------------------------------- Operating expenses Cost of equipment sold 21,651 13,462 60.8% System operations 51,682 40,321 28.2% General, administrative and customer service 56,423 58,269 (3.2%) Sales and marketing 60,628 40,478 49.8% Depreciation and amortization 49,141 48,595 1.1% - ---------------------------------------------------------------- 239,525 201,125 19.1% - ---------------------------------------------------------------- Wireless operating income 92,159 107,247 (14.1%) - ---------------------------------------------------------------- OTHER OPERATIONS Operating revenues 105,587 81,936 28.9% - ---------------------------------------------------------------- Operating expenses Cost of sales and other 74,553 57,178 30.4% Depreciation and amortization 3,200 2,467 29.7% - ---------------------------------------------------------------- 77,753 59,645 30.4% - ---------------------------------------------------------------- Other operating income 27,834 22,291 24.9% - ---------------------------------------------------------------- TOTAL OPERATING INCOME 387,092 376,743 2.7% OTHER INCOME (EXPENSE) Interest expense (119,927) (101,118) 18.6% Income from unconsolidated cellular entities 24,712 26,913 (8.2%) Minority interest (8,052) (9,930) (18.9%) Other income and expense 10,475 6,197 69.0% Income tax expense (120,342) (118,909) 1.2% - ---------------------------------------------------------------- NET INCOME $ 173,958 179,896 (3.3%) ================================================================ EARNINGS PER SHARE Basic $ 1.24 1.30 (4.6%) Diluted $ 1.23 1.27 (3.1%) SHARES OUTSTANDING Basic 139,989 138,668 1.0% Diluted 141,769 141,331 0.3% DIVIDENDS PER COMMON SHARE $ 0.1425 0.1350 5.6%
CenturyTel, Inc. CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2000 AND DECEMBER 31, 1999 (UNAUDITED)
September 30, December 31, 2000 1999 - -------------------------------------------------------------------------------- (in thousands) ASSETS CURRENT ASSETS Cash and cash equivalents $ 71,645 56,640 Other current assets 299,334 229,433 - -------------------------------------------------------------------------------- Total current assets 370,979 286,073 - -------------------------------------------------------------------------------- PROPERTY, PLANT AND EQUIPMENT Telephone 4,901,664 3,439,469 Wireless 503,215 472,725 Other 362,057 281,713 Accumulated depreciation (2,875,149) (1,937,449) - -------------------------------------------------------------------------------- Net property, plant and equipment 2,891,787 2,256,458 - -------------------------------------------------------------------------------- INVESTMENTS AND OTHER ASSETS Excess cost of net assets acquired 2,523,254 1,644,884 Other 524,862 517,992 - -------------------------------------------------------------------------------- Total investments and other assets 3,048,116 2,162,876 - -------------------------------------------------------------------------------- TOTAL ASSETS $ 6,310,882 4,705,407 ================================================================================ LIABILITIES AND EQUITY CURRENT LIABILITIES Short-term debt and current maturities of $ 349,204 62,098 Other current liabilities 316,581 247,079 - -------------------------------------------------------------------------------- Total current liabilities 665,785 309,177 LONG-TERM DEBT 3,129,988 2,078,311 DEFERRED CREDITS AND OTHER LIABILITIES 531,657 469,927 STOCKHOLDERS' EQUITY 1,983,452 1,847,992 - -------------------------------------------------------------------------------- TOTAL LIABILITIES AND EQUITY $ 6,310,882 4,705,407 ================================================================================
CAPITAL EXPENDITURES NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
INC 2000 1999 (DEC) - -------------------------------------------------------------------------------- (in thousands) Telephone $ 157,841 145,178 8.7% Wireless 38,964 44,262 (12.0%) Corporate and other 85,876 47,558 80.6% - ------------------------------------------------------------------- Total capital expenditures $ 282,681 236,998 19.3% ===================================================================
CAPITAL EXPENDITURES THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
INC 2000 1999 (DEC) - -------------------------------------------------------------------------------- (in thousands) Telephone $ 82,427 58,554 40.8% Wireless 24,279 11,072 119.3% Corporate and other 36,568 18,244 100.4% - ------------------------------------------------------------------- Total capital expenditures $ 143,274 87,870 63.1% ===================================================================
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CenturyTel, Inc. By: /s/ Neil A. Sweasy ------------------------- Neil A. Sweasy Vice President and Controller -----END PRIVACY-ENHANCED MESSAGE-----