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2
CENTURYTEL 2005 ANNUAL REPORT
Dear Shareholders
01 02 03 04 05
2,337
3,088
3,479 3,41 0 3,61 7
Stockholders’ Equity
(in millions)
01 02 03 04 05
573
793
1,068
956 965
Net Cash Provided
by Operating
Activities
(in millions)
Our high-quality
broadband network,
our committed
employee base, our
excellent customer
service and our
financial strength
make us a strong
competitor now and
in the future.
riving change in our industry is
the rapid advancement in Internet
Protocol (IP) based technologies
that allow telecommunications, video,
wireless and other service providers to
offer services they have not traditionally
been able to support. These new
technologies mean that CenturyTel may
face greater competition – particularly
in the more densely populated areas
we serve. However, the advancement of
IP technologies also provides us
unprecedented opportunities to sell new
products and services over our broadband
network and to expand the geographic
scope of the markets we serve.
We believe we are well positioned to
take advantage of these opportunities.
We take our relationships with our
customers personally, and we work hard
to retain and grow our customer base by
providing the best value, solutions and
customer experience in our markets. Our
high-quality broadband network, our
committed employee base, our excellent
customer service and our financial
strength make us a strong competitor
now and in the future.
Our Financial Strength
Enables Our Operational Success
CenturyTel has the financial strength that
we believe will be a key requirement
for companies to succeed in our rapidly
changing environment. Once again, in
2005 CenturyTel delivered solid operating
The telecommunications industry continued its rapid
evolution during 2005 and will experience further
innovation in 2006 and beyond. While this rapid change
brings new challenges, we at CenturyTel believe these
challenges are outpaced by the opportunities we will
have to offer a broad array of advanced services –
both to our existing customers and to new customers
in new markets.
D