Telephone and Data Systems Inc TDS
Q3 2012 Earnings Call Transcript

Transcript Call Date 11/07/2012

Operator: Greetings and welcome to Telephone Data Systems and U.S. Cellular Third 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, Ms. Jane McCahon, Vice President of Corporate Relations for Telephone Data Systems. Thank you, Mr. McCahon. You may now begin.

Jane W. McCahon - VP of Corporate Relations, Telephone and Data Systems, Inc: Thank you, Rob. Good morning, everyone and thanks everyone for joining us. I do want to make you aware of the presentation we've 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 Ken Meyers, Executive Vice President and Chief Financial Officer; from U.S. Cellular, Mary Dillon, President and Chief Executive Officer; Steve Campbell, Executive Vice President and Chief Financial Officer; and from TDS Telecom, Vicki Villacrez, the Vice President of Finance and Chief Financial Officer.

This call is being simultaneously webcast on the Investor Relations' sections of 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 statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Please review the Safe Harbor paragraphs in our release 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 Forms 8-K including the press releases we issued this morning. Both companies plan to file their SEC Form 10-Qs later along with an 8-K related to the Sprint transaction. We'll be attending a number of conferences in the near term including UBS in New York in early December and Citi in Las Vegas in early January. As always, please keep in mind that TDS hasn't opened our policy. So if you are in the Chicago area and would like to meet with members of the management team from TDS, U.S. Cellular or TDS Telecom, the IR team will try to accommodate you calendars permitting.

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

Kenneth R. Meyers - EVP and CFO, Telephone and Data Systems, Inc: Good morning and thank you for joining us today. We know it will be a busy day for most of you. We appreciate your time and interest. We've been talking for some time now about our ongoing work to identify and assess potential actions to enhance shareholder value.

Today, the team will talk about one more step we are taking to improve long-term returns at U.S. Cellular. We've been working on it for some time and it will be a while to complete. In the meantime, we continue to actively evaluate other potential actions.

On behalf of TDS, I'd like to say this transaction has our full support and was approved unanimously by both the TDS Board and the U.S. Cellular Board.

Read our Earnings Call Transcript disclaimer.
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