Exhibit 99.1
Alaska Communications Initiates Dividend Program, Withdraws IDS Filing and
Reports Third Quarter Results
ANCHORAGE, Alaska--(BUSINESS WIRE)--Oct. 28, 2004--Alaska
Communications Systems Group, Inc. (NASDAQ:ALSK)
-- Fourth Consecutive Quarter of Record Wireless Growth -
-- Net Cash Provided by Operating Activities of $15.5 Million -
Alaska Communications Systems Group, Inc. ("ACS") (NASDAQ:ALSK)
today reported financial results for its third quarter ended September
30, 2004. In addition, the company today separately announced the
initiation of a quarterly cash dividend and the withdrawal of its
registration statements previously filed with the Securities and
Exchange Commission (SEC) for an initial public offering of Income
Deposit Securities (IDS).
"Over the past year, we have transformed ACS into a truly
customer-focused company," stated Liane Pelletier, ACS president and
chief executive officer. "We have been implementing growth strategies
that capitalize on our outstanding position as the only state-wide
integrated service provider in Alaska that owns local and long
distance, Internet and wireless facilities. Our success is evident
from our results, including posting our fourth consecutive quarter of
record wireless subscriber growth, bringing our total to over 95,500
wireless subscribers, and increasing our total retail relationships
growth rate for all of our products by 193 percent, or an increase of
over 4,100 relationships, versus last quarter. We are committed to
continuing to post strong market results, achieving operational
improvements and driving total shareholder returns. As a result, today
we announce an annual dividend program for holders of our common
stock."
Dividend Program
Subsequent to the end of the third quarter, the company initiated
its first quarterly cash dividend of $0.185 per share, which is
equivalent to an annual rate of $0.74 per share. The first quarterly
cash dividend of $0.185 per share is payable on January 19, 2005 to
stockholders of record at the close of business on December 31, 2004.
Financial Highlights
For the third quarter ending September 30, 2004, revenues were
$76.6 million, which represented a 4.6 percent increase over third
quarter 2003 revenues of $73.2 million, adjusted to exclude revenues
from the discontinued State of Alaska contract. Including the state of
Alaska contract revenues, reported revenues for the third quarter of
2003 were $78.2 million. Wireless contributed significantly to revenue
growth as wireless revenue rose to $16.2 million this quarter compared
to $12.6 million a year ago. Notably, this total revenue growth was
achieved while the overall U.S. telecom industry experienced local
telephone line migration to cable telephony and ACS experienced
seasonal factors common for Alaska, which combined contributed to a
1.8 percent sequential decrease in access lines.
Also during the third quarter 2004 compared to third quarter 2003:
-- Net loss declined to $16.2 million from $75.6 million and to a
loss of $0.55 per share from $2.54 per share, respectively;
-- Adjusted EBITDA was $21.6 million, which included $5.3 million
of charges incurred as the result of a thorough balance sheet
review and a detailed analysis of opportunities to enhance
long-term cash generation, and $490,000 of increased legal
expenses associated with the Turner case. This amount compares
to $16.4 million for the third quarter of 2003;
-- Interest expense declined to $11.7 million from $22.6 million
due to the early extinguishment of debt during the third
quarter of 2003;
-- Generated strong cash flows from operations, providing $15.5
million of funding for maintenance capital expenditures and
shareholder returns;
-- Free cash flow was $5.7 million adjusted for pre-funded growth
capital expenditure projects; and
-- Closed the quarter with a cash balance of $79.7 million.
Pelletier added, "Our goal is to capitalize on our strong market
position and comprehensive product line by strengthening the
relationship with our target customers. For example, we have built
competitive advantages in our wireless offering by being
first-to-market with exciting new products like picture phones, PDAs
and personal computer air cards, in addition to being the only
provider of new EV-DO wireless data services with the highest
available mobile speeds. Wireless has emerged as a very compelling
door opener, which provides our cross-trained sales representatives
the opportunity to introduce our full product portfolio. With our
one-stop telecommunications shop and integrated approach to solving
customer needs, we believe we will grow our share of wallet and create
a loyal customer base."
Metric Highlights: Third Quarter 2004 Compared to Second Quarter
2004
-- Increased total number of retail customer relationships across
all product lines by 4,100, to over 388,000 total, a net
addition growth rate of 193 percent.
-- Continued to significantly benefit from the introduction of
wireless number portability as 3 out of 4 customers ported
their numbers to ACS.
-- Added over 4,400 wireless subscribers, growing 4.9 percent and
bringing the total to over 95,500 wireless subscribers. Churn
remained constant at 1.7 percent.
-- Improved wireless average revenue per unit (ARPU) to $47.43,
and minutes of use (MOU) increased by 7.7 percent to
approximately 74 million minutes. During the quarter we
changed the methodology of calculating ARPU to exclude
equipment sales and roaming revenue from non-ACS subscribers.
-- Increased digital subscriber lines (DSL) 7.8 percent to
approximately 22,600.
-- Increased long distance subscribers by 1,681 to 44,334
customers, a 3.9 percent increase, principally as a result of
a focused selling effort and the bundling of the long distance
product with other ACS services.
-- Access lines, excluding the impact of a change in line
counting methodology, which decreased by approximately 5,600
lines, or 1.8 percent, were offset in part by higher quality
of retail line installs which carry ARPUs that are on average
11 percent higher.
Financial Review
"Since I joined ACS in March, my financial team and I have
conducted a systematic analysis focusing on improving cash flow
performance and critically assessing the carrying values on our
balance sheet," said David Wilson, ACS senior vice president and chief
financial officer. "We are committed to maximizing shareholder value
and aggressively pursuing opportunities to improve cash generation.
Our efforts are decisive when evaluating all aspects of our financial
statements, and this quarter we incurred a number of charges as a
result. We have also completed our comprehensive balance sheet review
and have implemented improvements to effectively give the company a
clean start. In short, ACS now has a focused strategy, clear customer
focus and a strong balance sheet to support these initiatives."
During the third quarter, ACS identified areas of financial
management improvement, which resulted in (A) one-time charges of $3.6
million and (B) other charges of $5.3 million that are summarized
below.
(A) One-time Charges:
-- Recognized one-time early termination charge of $2.8 million
on an aircraft-operating lease. The termination of the lease
is expected to save the company approximately $1.0 million per
year.
-- Recognized a one-time non-recurring charge of $750,000 for a
capped commitment to cover cost overruns incurred by Neptune
with the Alaska Rail Road.
(B) Other Charges:
-- Wrote off $2.6 million of obsolete inventory, a major
component of which was acquired in 1999.
-- Recorded $770,000 in cellular access charges concerning a
reciprocal compensation dispute with Dobson Communication.
-- Wrote down the value of various long-standing assets for
reimbursable expenses and vendor credits by $710,000.
-- Increased legal reserves for various open disputes by
$570,000.
-- Reserved for a vacated lease on a sales office of $200,000
following the consolidation of office premises.
-- Reversed $420,000 of previously recognized pay station dial
around revenue following receipt of notice from a
clearinghouse that AT&T had previously over funded the shared
revenue pool.
Recent Business Highlights
-- In July, the Regulatory Commission of Alaska (RCA) granted
competitive eligible telecommunications carrier (CETC) status
to ACS for its wireless services in the Matanuska Telephone
Association and ACS of Fairbanks study areas. This will enable
ACS to receive Universal Service Funds for serving these
areas.
-- In August, building on its "Mobile to Mobile" offering, ACS
launched its innovative wireless ''Mobile to Home'' calling
feature, which allows wireless customers to enjoy unlimited
calling between their wireless phone and their home telephone
number, and vice versa. As the first provider in Alaska with
this feature, ACS is increasing customer convenience and
providing a valuable solution for keeping in touch.
-- In September, the RCA confirmed that its 24.7 percent increase
in UNE-L monthly rates for the Anchorage market from $14.92 to
$18.64 was final and effective from June 25, 2004. This change
was reflected in third quarter revenue. On October 27, ACS and
GCI executed and filed with the RCA a final 5 year
interconnect agreement for Anchorage resolving all outstanding
issues.
-- In October, ACS executed a settlement agreement in the case of
Turner et al. v. ACS Long Distance, Inc. and ACS Group, which
proposes class members will receive coupons for any ACS
wireline, wireless or data service, as well as ACS-LD
interstate residential long distance minutes. These benefits
are available only to ACS customers. On October 27, the court
granted preliminary approval of the Turner settlement and
final approval is expected in February 2005.
Business Outlook
ACS currently expects revenue for the fourth quarter of 2004 to be
in the range of $76 to $78 million. EBITDA is expected to be in the
range of $26 to $27 million, exclusive of charges incurred following
the withdrawal of our IDS filing.
For 2005, ACS expects revenue to be in the range of $310 to $320
million and EBITDA to be in the range of $108 to $112 million.
Pelletier concluded, "Our renewed devotion to customers combined
with our diligent strategy execution is bearing fruit. Revenue growth
is strong, and from a services and product standpoint, the platform we
are building will be meaningful in our fourth quarter and next year.
Although the industry is being impacted by the introduction of cable
telephony, our momentum is building as we focus on our
differentiators, achieve synergies, drive out costs and improve
productivity."
Conference Call
The company will host a conference call and live webcast today at
5:00 p.m. Eastern Time to discuss third quarter results and the
initiation of the dividend program. For parties in the United States
and Canada, call 800-366-3908 to access the earnings call.
International parties can access the call at 303-262-2130. The live
webcast of the conference call is accessible from the "Investor
Relations" section of the company's website www.alsk.com. The webcast
will be archived for a period of 90 days. A telephonic replay of the
conference call will also be available 2 hours after the call and will
run until Saturday, October 30, 2004 at 12:00 midnight ET. To hear the
replay, parties in the United States and Canada should call
800-405-2236 and enter pass code 11011345. International parties
should call 303-590-3000 and enter pass code 11011345.
About Alaska Communications Systems
ACS is the leading integrated communications provider in Alaska,
offering local telephone service, wireless, long distance, data, and
Internet services to business and residential customers throughout
Alaska. More information can be found on the company's website at
www.acsalaska.com or at our investor site at www.alsk.com.
Safe Harbor Statement
Statements about future results and other expectations constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are based
on current expectations and the current economic environment. The
company cautions that these statements are not guarantees of future
performance. Actual results may differ materially from those expressed
or implied in the forward-looking statements. A number of factors in
addition to those discussed herein could cause actual results to
differ materially from expectations. The company's financial planning
is affected by business and economic conditions and changes in
customer order patterns. Any projections are inherently subject to
significant economic and competitive uncertainties and contingencies,
many of which are beyond the control of ACS. Important assumptions and
other important factors, including risk factors, which could cause
actual results to differ materially from those in the forward-looking
statements, are specified in the company's Form 10-K for the year
ended December 31, 2003 and other filings with the SEC. The company
undertakes no obligation to update forward-looking statements, whether
as a result of new information, future events, or otherwise.
Schedule 1
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER FINANCIAL DATA
(Unaudited, in Thousands, Except per Share Amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------- -------------------
2004 2003 2004 2003
--------- --------- --------- ---------
Operating revenues:
Local telephone $51,246 $53,261 $159,976 $162,472
Wireless 16,204 12,591 41,266 34,868
Directory - - - 11,631
Internet 5,295 8,223 15,013 24,416
Interexchange 3,878 4,147 11,077 12,623
--------- --------- --------- ---------
Total operating revenues 76,623 78,222 227,332 246,010
Operating expenses:
Local telephone 35,170 30,160 96,806 84,267
Wireless 10,970 7,545 27,229 21,796
Directory - - - 5,249
Internet 7,291 11,730 21,204 35,829
Interexchange 5,637 6,056 15,511 17,886
Unusual charges - 54,539 - 54,539
Depreciation and
amortization 19,770 22,044 57,686 66,735
Loss (Gain) on disposal of
assets, net 2,600 (15,968) 2,825 (112,507)
--------- --------- --------- ---------
Total operating expenses 81,438 116,106 221,261 173,794
--------- --------- --------- ---------
Operating income (4,815) (37,884) 6,071 72,216
Other income and expense:
Interest expense (11,665) (22,586) (38,914) (51,478)
Interest income and other 239 (15,100) 614 (10,121)
--------- --------- --------- ---------
Total other income
(expense) (11,426) (37,686) (38,300) (61,599)
--------- --------- --------- ---------
Income (Loss) before income
taxes (16,241) (75,570) (32,229) 10,617
Income taxes 1 - 1 -
--------- --------- --------- ---------
Income (Loss) from continuing
operations (16,242) (75,570) (32,230) 10,617
Loss from discontinued
operations, net of tax - - - (52)
--------- --------- --------- ---------
Net loss $(16,242) $(75,570) $(32,230) $10,565
========= ========= ========= =========
Net income (loss) per share -
basic and diluted:
Income (Loss) from
continuing operations (0.55) (2.54) (1.10) 0.35
Loss from discontinued
operations, net of tax - - - (0.00)
--------- --------- --------- ---------
Net income (loss) $(0.55) $(2.54) $(1.10) $0.35
========= ========= ========= =========
Weighted average shares
outstanding:
Basic and diluted 29,384 29,786 29,418 30,165
========= ========= ========= =========
Adjusted EBITDA $21,634 $16,371 $71,051 $68,820
========= ========= ========= =========
Note: Certain reclassifications have been made to the 2003 data to
conform with the current presentation.
Schedule 2
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited, In Thousands Except Per Share Amounts)
September 30, December 31,
Assets 2004 2003
---------- ----------
Current assets:
Cash and cash equivalents $79,689 $97,798
Restricted cash 4,690 3,635
Accounts receivable-trade, net of allowance of
4,005 and 4,432 38,233 41,718
Materials and supplies 7,051 10,099
Prepayments and other current assets 7,287 5,850
---------- ----------
Total current assets 136,950 159,100
Property, plant and equipment 1,058,889 1,041,904
Less: Accumulated depreciation and
amortization 640,110 603,760
---------- ----------
Property, plant and equipment, net 418,779 438,144
Goodwill 38,403 38,403
Intangible Assets 21,917 22,055
Debt issuance costs, net of amortization of
7,356 and 5,417 16,428 18,939
Deferred charges and other assets 9,195 8,750
---------- ----------
Total assets $641,672 $685,391
========== ==========
Liabilities and Stockholders' Equity (Deficit)
Current liabilities:
Current portion of long-term obligations $2,294 $1,982
Accounts payable-affiliates 3,611 5,082
Accounts payable, accrued and other current
liabilities 49,211 47,303
Income taxes payable (26) 1,095
Advance billings and customer deposits 8,678 8,766
---------- ----------
Total current liabilities 63,768 64,228
Long-term obligations, net of current portion 530,970 548,238
Other deferred credits and long-term
liabilities 75,560 71,065
Stockholders' equity (deficit):
Preferred stock, no par, 5,000 authorized, no
shares issued and outstanding - -
Common stock, .01 par value; 145,000 shares
authorized, 33,936 and
33,611 shares issued and 29,387 and 29,343
outstanding, respectively 339 336
Common stock, .01 par value; 267 shares
subject to mandatory redemption - (1,198)
Treasury stock, 4,549 and 4,268 shares,
respectively, at cost (18,443) (17,118)
Paid in capital in excess of par value 280,049 278,181
Accumulated deficit (286,028) (253,798)
Accumulated other comprehensive loss (4,543) (4,543)
---------- ----------
Total stockholders' equity (deficit) (28,626) 1,860
---------- ----------
Total liabilities and stockholders' equity
(deficit) $641,672 $685,391
========== ==========
Schedule 3
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
SCHEDULE OF ADJUSTED REVENUES
(Unaudited, in Thousands)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------ --------------------
2004 2003 2004 2003
-------- --------- ---------- ---------
Total operating revenues $76,623 $78,222 $227,332 $246,010
Adjustment for sale of the
Company's
directory business -
Directory revenues - - - (11,631)
-------- --------- ---------- ---------
Total adjusted operating
revenues $76,623 $78,222 $227,332 $234,379
======== ========= ========== =========
Note: In an effort to provide investors with additional
information regarding the Company's results as determined by
generally accepted accounting principles (GAAP), the Company
also discloses certain non-GAAP information which management
utilizes to assess performance. Within this press release, the
Company has disclosed its total operating revenues adjusted to
exclude the impact of disposed of operations (Total adjusted
operating revenues) as the Company believes that such data
will facilitate more useful period-to-period comparisons of
the Company's ongoing operations.
Schedule 4
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
SCHEDULE OF LOCAL TELEPHONE REVENUES
(Unaudited, in Thousands)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------ -------------------
2004 2003 2004 2003
--------- -------- --------- ---------
Local telephone revenues:
Local network service $23,224 $24,022 $68,972 $73,370
Network access revenue 23,128 23,750 75,362 73,951
Deregulated and other 4,894 5,489 15,642 15,151
--------- -------- --------- ---------
Local telephone revenues $51,246 $53,261 $159,976 $162,472
========= ======== ========= =========
Schedule 5
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
SCHEDULE OF ADJUSTED EBITDA CALCULATION
(Unaudited, in Thousands)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------- -------------------
2004 2003 2004 2003
--------- --------- --------- ---------
Net income (loss) $(16,242) $(75,570) $(32,230) $10,565
Add (subtract):
Interest expense 11,718 22,586 39,054 51,478
Income tax benefit 1 - 1 -
Depreciation and
amortization 19,770 22,044 57,686 66,735
(Gain) Loss on disposal of
assets, net 2,600 (15,968) 2,825 (112,507)
Gain on Foreign Exchange - (157) - (4,261)
Impairment charges related
to SOA - 63,759 - 63,759
Non-cash pension expense 183 - 549 -
Non-cash adjustment to
litigation reserves - - (438) -
--------- --------- --------- ---------
EBITDA 18,030 16,694 67,447 75,769
Adjustment for
discontinued operations - - - 52
Adjustment for the
termination of airplane
lease 2,854 - 2,854 -
Adjustment for Neptune
capped commitment 750 - 750 -
Adjustment for sale of the
Company's
directory business -
Directory EBITDA - (323) - (7,001)
--------- --------- --------- ---------
Adjusted EBITDA $21,634 $16,371 $71,051 $68,820
========= ========= ========= =========
Note: In an effort to provide investors with additional
information regarding the Company's results as determined by
generally accepted accounting principles (GAAP), the Company
also discloses certain non-GAAP information which management
utilizes to assess performance and believes provides useful
information to investors. Within this press release, the
Company has disclosed its net gain before interest expense,
provisions for taxes, depreciation expense, amortization
expense and other non-cash charges inclusive of non cash
pension expense and a non cash release of litigation reserves
following legal settlement (EBITDA) because the Company
believes it is an important indicator because it provides
information about our ability to service debt, pay dividends
and fund capital expenditures.
To further assist the reader in understanding operations,
EBITDA has also been adjusted to exclude the impact of
discontinued and disposed of operations (Adjusted EBITDA) as
the Company believes that such data will facilitate more
useful period-to-period comparisons of the Company's ongoing
operations. EBITDA and adjusted EBITDA are not GAAP measures
and should not be considered a substitute for net income and
loss and other measures of financial performance recorded in
accordance with GAAP.
Schedule 6A
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
KEY OPERATING STATISTICS
(Unaudited)
September 30, June 30, September 30,
------------- -------- -------------
2004 2004 2003
------------- -------- -------------
Local telephone:
Retail access lines (1) 209,414 212,487 221,956
Wholesale access lines 17,498 21,310 18,803
UNE loop lines 68,522 68,662 67,542
UNE platform lines 6,250 4,814 4,899
------------- -------- -------------
Total local telephone access
lines 301,684 307,273 313,200
============= ======== =============
Average local telephone access
lines for the quarter 304,479 308,202 314,320
Average local telephone revenue
per line for the quarter $56.10 $57.27 $25.48
Quarterly growth rate in local
telephone access lines -1.8% -0.6% -0.7%
Wireless
Covered population 480,422 480,422 478,413
Ending subscribers 95,529 91,083 83,993
Average subscribers for the
quarter 93,306 89,537 83,444
Quarterly growth rate 4.9% 3.5% 1.3%
Activations for the quarter 9,219 8,054 6,010
Deactivations for the quarter 4,773 4,962 4,911
Average monthly churn for the
quarter 1.7% 1.7% 1.9%
Penetration 19.9% 19.0% 17.6%
Quarterly Minutes of use (000's) 73,983 68,708 64,033
Average revenue per subscriber
for the quarter(2) $47.43 $44.59 $43.47
Long Distance:
Long distance subscribers 44,334 42,653 43,499
Quarterly Minutes of use
(000's) 36,614 33,119 38,954
Average subscribers for the
quarter 43,494 42,353 43,894
Average revenue per subscriber
for the quarter $29.70 $29.83 $31.49
Internet:
DSL subscribers 22,592 20,963 16,294
Dial-Up and other service
subscribers 23,699 24,215 29,057
------------- -------- -------------
Total Internet subscribers 46,291 45,178 45,351
============= ======== =============
Average subscribers for the
quarter 45,735 45,432 44,978
Average DSL & dial up revenue
per subscriber for the
quarter(3) $28.98 $29.32 $28.74
(1) Prior period retail access lines impacted by change in line count
methodology.
(2) Wireless ARPU has been restated to better reflect ongoing revenue
derived from ACS's wireless customers. The restated ARPU excludes
equipment sales, foreign roaming (non-ACS customers roaming on
ACS's network) and access termination revenue. Previously,
wireless ARPU was based on all wireless revenues, including those
that were not derived from ACS's customer base.
(3) Internet ARPU has been restated to include only DSL and dial-up
revenues. Previously, internet ARPU included all internet
revenues; however, the customer base included only DSL and dial-up
subscribers. The restated ARPU provides consistency between
revenues and customer counts.
Schedule 6B
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
KEY OPERATING STATISTICS
(Unaudited)
September 30, June 30, Net
2004 2004 Movement
------------- ----------- ------------
Local telephone retail access
lines(1) 209,414 212,487 (3,073)
Wireless subscribers 95,529 91,083
Less adjustment for
resellers (6,655) (6,635)
------------- -----------
88,874 84,448 4,426
------------- -----------
Long distance subscribers 44,334 42,653 1,681
DSL and dial up subscribers 46,291 45,178 1,113
------------- ----------- ------------
388,913 384,766 4,147
============= =========== ============
(1) Prior period retail access lines impacted by change in line count
methodology
Schedule 7
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
SCHEDULE OF FREE CASHFLOWS
(Unaudited, in Thousands)
Three Three Three Nine
Months Months Months Months
Ended Ended Ended Ended
March 31, June 30, September 30, September 30,
--------- --------- ------------ -------------
2004 2004 2004 2004
--------- --------- ------------ -------------
Net cash provided
by operating
activities $5,674 $17,460 $15,460 $38,594
Total construction and
capital expenditures (10,311) (10,718) (16,915) (37,944)
--------- --------- ------------ -------------
Free Cashflow (4,637) 6,742 (1,455) 650
CDMA Growth & Neptune
optical fiber capacity 2,050 3,573 7,155 12,778
--------- --------- ------------ -------------
Adjusted free cashflow $(2,587) $10,315 $5,700 $13,428
========= ========= ============ =============
Note: In an effort to provide investors with additional
information regarding the Company's results as determined by
generally accepted accounting principles (GAAP), the Company
also discloses certain non-GAAP information which management
utilizes to assess performance and believes provides useful
information to investors. Within this press release, the
Company has disclosed net cashflow provided by operations net
of total construction and capital expenditures (free cashflow)
and free cashflow adjusted for growth capital investments in
CDMA wireless technology and Neptune optical fiber capacity,
which the company plans to fund from existing cash reserves
(Adjusted free cashflow). The Company believes it is an
important indicator because it provides information about our
ability to service debt and pay dividends. Free cashflow and
adjusted free cashflow are not GAAP measures and should not be
considered a substitute for increase (decrease) in cash and
other measures of financial performance recorded in accordance
with GAAP.
CONTACT: Alaska Communications Systems
Mary Ann Pease, 907-297-3000
mpease@acsalaska.com
or
ACS Investors:
Lippert/Heilshorn & Associates
Kirsten Chapman / David Barnard, CFA, 415-433-3777
david@lhai-sf.com