Lincoln Telecommunications Reports Record Financial Results for 1994

Lincoln Telecommunications, a full-service communications company based in Lincoln, Nebraska, has announced its record financial results for 1994. The company's year-end net income, before a one-time special depreciation charge, was $37.2 million, representing a 12.9% increase from 1993. The company's president and CEO, Frank Hilsabeck, attributed the strong results to continued solid performance in telephone operations and outstanding growth in cellular operations.

Key Takeaways:

• Lincoln Telecommunications reported a record year-end net income of $37.2 million in 1994, before a one-time special depreciation charge.
• The company's year-end earnings per share were $1.14 in 1994, a 12.9% increase from 1993.
• The company experienced healthy increases in telephone volumes, with access minutes of use up 6.5% and total customer access lines in service growing 3.7% in 1994.
• Cellular operations managed by the company generated growth in customers and revenues, with 18,682 new subscribers added in 1994, representing a 52.8% increase from 1993.
• Cellular revenues in managed markets grew by $10.0 million or 49.8% in 1994 compared to 1993.
• The company is preparing for an environment of increasing competition, changing technology, and rapidly emerging market opportunities.

Statistics:

• Year-end net income: $37.2 million (before one-time special depreciation charge)
• Year-end earnings per share: $1.14 (before one-time charge)
• Access minutes of use: up 6.5% in 1994 compared to 1993
• Total customer access lines in service: grew 3.7% in 1994
• New subscribers added: 18,682 in 1994, representing a 52.8% increase from 1993
• Cellular revenues in managed markets: grew by $10.0 million or 49.8% in 1994 compared to 1993

Sources:

• PRNewswire (Jan. 16): Lincoln Telecommunications Reports Record Financial Results for 1994