United States Cellular Corp USM
Q2 2012 Earnings Call Transcript

Transcript Call Date 08/03/2012

Operator: Greetings and welcome to the TDS and U.S. Cellular Second Quarter Operating Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Jane McCahon, Vice President of Corporate Relations for TDS. Thank you, miss. You may begin.

Jane W. McCahon - VP of Corporate Relations, Telephone and Data Systems, Inc: Thank you, Dan. Good morning, and thank you for joining us. I want to make you all aware of the quarterly conference call presentation we have prepared to accompany our comments this morning, which you can find on the Investor Relations pages of the TDS and U.S. Cellular websites.

With me today and offering prepared comments from TDS are Ken Meyers, Executive Vice President and CFO; from U.S. Cellular, Mary Dillon, President and Chief Executive Officer; Steve Campbell, Executive Vice President and CFO; and from TDS Telecom, Vicki Villacrez, Vice President of Finance and CFO; and Kevin Hess, Senior VP, Government and Regulatory Affairs.

This call is being simultaneously webcast on the Investor Relations' sections for both the TDS and U.S. Cellular websites. Please see the websites for slides referred to on this call including our non-GAAP reconciliations.

The information set forth in the presentation and discussed during this call contains forward looking statements about expected future results and financial results that are forward-looking and subject to risks and uncertainties. Please review the safe harbor paragraphs in our releases and the more extended versions that will be included in our SEC filings.

Shortly after we released our earnings results this morning and before this call, TDS and U.S. Cellular filed SEC Form 8-K report including the press releases we issued this morning. Both companies plan to file their SEC Form 10-Qs later this afternoon.

On September 27, 2012 the FCC plans to conduct Auction 901, a single-round sealed bid reverse auction to award up to $300 million in one-time Mobility Fund Phase I support to successful bidders that commit to provide 3G or better wireless service in areas designated as underserved by the FCC.

U.S. Cellular has filed short form applications with the FCC for each of the states in which we have ETC status, which preserves our ability to participate in the auction if we so choose. FCC anti-collusion rule places certain restrictions on business communications and disclosures by participants in an FCC auction, so we are refrained from discussing any informational topic relative to that auction.

Please keep in mind that TDS has an open door policy, so if you are in the Chicago area and would like to meet with members of management and TDS Corporate, U.S. Cellular or TDS Telecom, the Investor Relations team will try to accommodate you calendars permitted.

Now, I'd like to turn the call over to Ken Meyers.

Kenneth R. Meyers - EVP and CFO, Telephone and Data Systems, Inc: Thank you, Jane. Good morning everyone. As you'll hear from the team with the mixed quarter was some good progress on several fronts including the level of postpaid and prepaid gross adds and another HMS acquisition, and there are some tough headwinds we are faced, we are working our way through. I will let the team provide the details.

Read our Earnings Call Transcript disclaimer.
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