Verizon Wireless 2008 Annual Report Download - page 6
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943
207
1,918
FIOS TV
CUSTOMERS
(thousands)
06 07 08
theworld’spremierprovidersofallthesecapabilities.Wearealsobuildingrelationshipswith
world-classpartnerslikeAccenturetoleverageourcomplementarycapabilitiesandprovide
customerswithsuperiorsolutionsfortheirbusinesses.Lookingahead,weexpectcompaniesto
lookforwaystousecommunicationstoruntheirbusinessesmoreefciently,reducetravel
expenses,saveenergycostsandconnecttheirincreasinglyglobalworkforcesandsupplychains.
Withourglobalreachandnetworkingexpertise,wehaveagreatopportunitytobeastrategic
partnerinhelpingourmajorcustomersachievethesegoals.
Onceagainin2008,ourproductsearnedVerizontopmarksforqualityandcustomersatisfac-
tion.ConsumerReportsrankedusnumber-oneamongwirelesscompaniesincustomer
satisfactionin87percentofthecitiesitstudied.(Bytheway,Alltelwasnumber-oneintheother13
percent.)PCMag.comnamedFiOSInternetthefastestandmostsatisfyingserviceintheU.S.and
listedFiOSasoneofits100bestproductsof2008.IndustryanalystssuchasGartnerandForrester
haverecognizedVerizonBusinessasaleaderforglobalnetworksandservices.
WhatthisshowsisthatthemarketisrespondingtoVerizon’srecordofinnovation.
Sowefeelcondentaboutourlong-rangegrowthopportunities.Thisisnottosayweare
unaffectedbytheeconomicslowdownorbytheongoingstructuralchangesinthecommunica-
tionsmarket.Thetraditionalxed-linetelephonebusinesscontinuestodeclineascustomers
disconnecttheirwiredphonesandshifttowireless,cableandothernewertechnologies.In
addition,thefalteringeconomydepressedvolumesinthelarge-businessmarketinthefourth
quarter,asbusinessesbegantocurtailtheirspendingandunemploymentrose.
Butallinall,2008wasanotheryearofoperationalexcellenceandstrategicgainsforour
company.Asforourstockperformance,Verizon’stotalreturnfor2008wasdown18percent,as
comparedwithdeclinesof32percentfortheDowJonesIndustrialAverageand37percentforthe
Standard&Poor’s500.Ifthere’sasilverlininginthesenumbers,it’sthat,onarelativebasis,
Verizon’sperformancewasinthetopone-thirdofboththeS&PandtheDow30,whichsaysthat
themarketrecognizesourearningsanddividendstability.Alonger-termviewofourperformance
overtheperiodfrom2006to2008showsVerizon’stotalreturngrowingby35percent,ascom-
paredwithadeclineof23percentfortheStandard&Poor’s500.
Inotherwords,Verizonhasoutperformedthemarketonarelativebasisoverthepastyear
andhasgeneratedattractivereturnsonanabsolutebasisoverthreeyears.Thisiscoldcomfortto
investorssufferingthroughthecurrentmarketcrisis.Youcanbeassuredthattheleadersofour
companyarefocusedonwhatwecontrol–productivity,innovation,customerservice,anda
687
1,525
2,481
FIOS INTERNET
CUSTOMERS
(thousands)
06 07 08
3-Year Total Return
Verizon S&P 500
34.8%
-23.0%
-40%
0%
40%
80%
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