http://www.morningstar.com/earnings/49068105-telephone-and-data-systems-inc-tds-q4-2012.aspx

Telephone and Data Systems, Inc. TDS
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/26/2013

Operator: Greetings, and welcome to the TDS and U.S. Cellular Fourth 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, you may begin.

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

With me today and offering prepared comments are from TDS, Kenneth 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, Dave Wittwer, President and Chief Executive Officer; and Vicki Villacrez, VP, 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 those websites for slides referred to on this call including 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 and our announcement of the Baja acquisitions this morning and before the 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 10-Ks today.

We'll be attending a number of conferences in the near term including Morgan Stanley's Conference tomorrow in San Francisco and Deutsche Bank's on March 4 in Palm Beach.

As always, 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 the management team from TDS Corporate, U.S. Cellular or TDS Telecom, the Investor Relations team will try to accommodate you calendars permitting.

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

Kenneth R. Meyers - EVP and CFO, Telephone and Data Systems, Inc: Thank you, Jane. Good morning, everyone. Thanks for your time today. There are just a few points I'd like to make at the start today. First, you should take note of an important change in how we provide guidance. In addition to these historic metrics of revenue and capital expenditures for both U.S. Cellular and TDS Telecom, we are now also providing guidance at the consolidated level for such measures.

In addition, we are now using adjusted income before income taxes as our measure of profitability, instead of adjusted operating income before depreciation and amortization or that ugly word OIBDA which I can't pronounce, so we aren't going to use it anymore.

Read our Earnings Call Transcript disclaimer.
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