Frontier Communications Corporation Updates Guidance
December 08 2014 - 8:00AM
Business Wire
Frontier Communications Corporation (NASDAQ: FTR) is updating
2014 guidance, reflecting the completion of the Connecticut market
acquisition in the fourth quarter, as follows: leveraged free cash
flow in the range of $755 million to $780 million; capital
expenditures in the range of $575 million to $600 million; and cash
taxes in the range of $75 million to $90 million. Connecticut
acquisition and integration costs are excluded from this
guidance.
Frontier will be presenting at the UBS 42nd Annual Global Media
and Communications Conference today, December 8, 2014. The 10 a.m.
Eastern Time presentation by John Jureller, Executive Vice
President and Chief Financial Officer, will be available via a
webcast on Frontier’s Investor Relations website under “Webcasts
and Presentations.”
About Frontier Communications
Frontier Communications Corporation (NASDAQ: FTR) offers
broadband, voice, video, wireless Internet data access, data
security solutions, bundled offerings, and specialized bundles for
residential customers, small businesses and home offices and
advanced communications for medium and large businesses in 28
states. Frontier’s approximately 17,000 employees are based
entirely in the United States. More information is available at
www.frontier.com.
Forward-Looking Statements
This document contains "forward-looking statements" – that is,
statements related to future, not past, events. In this context,
forward-looking statements often address our expected future
business and financial performance and financial condition, and
often contain words such as "expect," "anticipate," "intend,"
"plan," "believe," "seek," "see," "will," "would," or "target."
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. For us, particular
uncertainties that could cause our actual results to be materially
different than those expressed in our forward-looking statements
include: risks related to the recently-concluded AT&T
transaction, including the ability to successfully integrate the
Connecticut operations, diversion of management’s attention,
effects of increased expenses or unanticipated liabilities, ability
to realize anticipated cost savings, sufficiency of the assets
acquired from AT&T, maintenance of customer and supplier
relationships, and our ability to meet debt and debt service
obligations, which have increased as a result of the AT&T
transaction; competition from cable, wireless and other wireline
carriers and the risk that we will not respond on a timely or
profitable basis; our ability to successfully adjust to changes in
the communications industry, including the effects of technological
changes and competition on our capital expenditures, products and
service offerings; reductions in the number of our voice customers
that we cannot offset with increases in broadband subscribers and
sales of other products and services; the impact of regulation and
regulatory, investigative and legal proceedings and legal
compliance risks; continued reductions in switched access revenues
as a result of regulation, competition or technology substitutions;
the effects of changes in the availability of federal and state
universal service funding or other subsidies to us and our
competitors; our ability to effectively manage service quality in
our territories and meet mandated service quality metrics; our
ability to successfully introduce new product offerings; the
effects of changes in accounting policies or practices; our ability
to effectively manage our operations, operating expenses, capital
expenditures, debt service requirements and cash paid for income
taxes and liquidity, which may affect payment of dividends on our
common shares; the effects of changes in both general and local
economic conditions on the markets that we serve; the effects of
increased medical expenses and pension and postemployment expenses;
the effects of changes in income tax rates, tax laws, regulations
or rulings, or federal or state tax assessments; our ability to
successfully renegotiate union contracts; changes in pension plan
assumptions and/or the value of our pension plan assets, which
could require us to make increased contributions to the pension
plan in 2015 and beyond; adverse changes in the credit markets or
in the ratings given to our debt securities by nationally
accredited ratings organizations; the effects of state regulatory
cash management practices that could limit our ability to transfer
cash among our subsidiaries or dividend funds up to the parent
company; the effects of severe weather events or other natural or
man-made disasters, which may increase our operating expenses or
adversely impact customer revenue; the impact of potential
information technology or data security breaches; and the other
factors that are described in our filings with the U.S. Securities
and Exchange Commission, including our reports on Forms 10-K and
10-Q. These risks and uncertainties may cause our actual future
results to be materially different than those expressed in our
forward-looking statements. We do not undertake to update or revise
these forward-looking statements.
INVESTOR:Frontier Communications CorporationLuke
Szymczak, 203-614-5044Vice President, Investor
Relationsluke.szymczak@ftr.comorMEDIA:AVP, Corp. Comm.Brigid
Smith, 203-614-5042brigid.smith@ftr.com
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