SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report May 29, 2002
(Date of earliest event reported) (May 29, 2002)
CTC COMMUNICATIONS GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-27505 04-3469590
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
220 Bear Hill Rd., Waltham, Massachusetts 02451
(Address of principal executive offices) (Zip Code)
(781) 466-8080
(Registrant's telephone number including area code)
(Former name or former address if changed since last report)
Item 5. Other Events
On May 29, 2002, the Registrant issued the following press release:
CTC Communications Now Offering Local Dial Tone Services in Albany, New York
WALTHAM, Mass.--May 29, 2002--
- -The Company Activates Local Dial Tone for Albany Businesses on its Packet-
Based PowerPath(R) Network and is Migrating Existing Customers to Its
Company Owned Fiber Facilities-
CTC Communications Group Inc. (CTC)(Nasdaq NM: CPTL) announced it is now
providing customers local dial tone services through access to its high-
speed fiber via the Company's packet-based PowerPath(R) Network for
customers in the Albany, New York area.
Robert J. Fabbricatore, Chairman of the Board and Chief Executive Officer of
CTC, reported that Albany, joins Rhode Island, Maine, Massachusetts, New
Hampshire and Buffalo, New York, as the latest market where CTC is offering
packet-based local dial tone services. He also stated that the Company is
continuing to install its fiber progressively throughout its current
footprint in the Northeast and Mid-Atlantic States. The Company will then
add local dial tone services in its target markets and expects that
deployment will be completed by this fall.
Mr. Fabbricatore commented, "CTC is wrapping up the migration of our current
customer base in Albany from leased interoffice facilities to the Company's
owned fiber and new customers are currently being placed directly onto the
Company's packet-based PowerPath(R) Network. CTC owned fiber not only
reduces the dependence on leased interoffice facilities, but also
substantially reduces CTC's network costs, improves our operating efficiency
and reduces our provisioning intervals from 90 to approximately 30 days.
Albany joins Buffalo, in upstate New York, where we are now provisioning
local dial tone services on our network. When local services were made
available in Buffalo our customers added the new local service to their
contract more than 60% of the time and when local services were chosen, they
also selected our long distance services 98% of the time."
Fabbricatore continued, "Local dial tone services combined with Company
owned fiber facilities is integral to our business plan and establishes the
CTC packet-based PowerPath(R) Network as a lower cost, 100% replacement for
today's legacy voice and data networks. In addition, when a customer
migrates from our off net service to our PowerPath(R) Network, CTC is able
to reduce our customer costs while improving CTC margins from 20% to over
60%."
About CTC Communications
CTC is a rapidly growing "next generation" Integrated Communications Carrier
utilizing advanced technology and providing its customers with converged
voice, data, Internet and video services on a broadband, packet-based
network, called the PowerPath(R) Network. The Company serves medium and
larger business customers from Virginia to Maine, which includes the most
robust telecommunications region in the world--the Washington D.C. to Boston
corridor. CTC was managing more than 607,000 access lines as of March 31,
2002.
CTC's Cisco Powered IP+ATM packet network and its 450 member sales and
service teams, provide contiguous marketing and technology coverage
throughout the Northeast and Mid-Atlantic States. The Company, through its
dedicated commitment to exceptional customer service, has achieved an
industry-leading market share in the Northeast. CTC can be found on the
worldwide web at www.ctcnet.com.
The statements in this press release that relate to future plans, events or
performance are forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially from
those reflected in the forward-looking statements including the provision of
local dial tone voice services, the deployment and activation of fiber
access to the PowerPath(R) Network. reduced operating costs, reduced costs
to customers, migration of customer's on-net and improved margins. Readers
are, accordingly, cautioned not to place undue reliance on these forward-
looking statements. Additional information about these risks and
uncertainties is set forth in the Company's most recent report on Forms 10-K
and 10-Q. CTC undertakes no obligation to release publicly the results of
any revisions to these forward-looking statements that may be made to
reflect results, events or circumstances after the date hereof.
# # #
Finance Contact: John Pittenger Media Contact:Alan Russell
CTC COMMUNICATIONS CTC COMMUNICATIONS
781-466-1302 (t) 781-522-8731 (t)
pitt@ctcnet.com arussell@ctcnet.com
www.ctcnet.com www.ctcnet.com
SIGNATURES
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 hereunto duly authorized on May 29, 2002.
CTC COMMUNICATIONS GROUP, INC.
By: /s/ John D. Pittenger
John D. Pittenger,
Executive Vice President, Finance and Administration