Cincinnati Bell 2003 Annual Report Download - page 17

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15
And while our focus remains on paying down debt, we are still making critical
investments to build our competitive profile and anticipate customer needs. In
October 2003 we launched our new GSM/GPRS wireless network, giving customers
access to an exciting new array of wireless handsets and data services, while also
providing additional capacity for new customer growth. In the run-up to the launch,
we purposefully did not aggressively pursue more customers for our TDMA network.
This decision has kept our wireless growth in check. We expect that the launch of
aggressive new offers in early 2004 will unleash new demand and fuel growth.
We began to see this growth in the fourth quarter of 2003, as we added 13,000
subscribers, 154 percent more than in the fourth quarter of 2002.
Our strong financial performance continues to reflect vigilant attention to customer
service that helps to preserve our existing revenue streams, as well as disciplined
cost management in a challenging telecom market. Continued focus on activities that
drive cash flow and margin performance will be the hallmark of our company as we
move forward in our efforts to further reduce our debt.
Where customers belong
Cincinnati Bell has a great legacy, and our hard-working employees are dedicated to
carrying that forward, whatever the challenges ahead.
As a business, we will maintain an unwavering focus on de-levering the balance
sheet. We will continue to make investments in customer acquisition in order to
ensure the defense of our core business. As members of the Greater Cincinnati and
Dayton communities, all of us will continue to play an integral, leading role where we
work and live. And as a customer-focused force, we will continue to deliver exceptional
service, and help to ensure that Cincinnati Bell remains the phone company where
people truly feel at home.
We are adept at protecting
share and growing profitability
despite threats. Our success
in this can be attributed
directly to how fast and
skillfully we bring advanced
services to market and
how we package or bundle
services to create winning
value propositions.
John F. Cassidy
President and Chief Executive Officer
1999 2000 2001 2002 2003
53
365
534 555 539
450
300
150
0
Any Distance Lines
(In thousands)
600