VANCOUVER, Wash., Oct. 14 /PRNewswire/ -- Electric Lightwave, Inc.
(Nasdaq: ELIX), a leading facilities-based integrated communications provider,
said today that despite the current weakness in the CLEC equity and debt
markets, its progress is not being impeded.
"The company continues to successfully execute its long-term business
plan," said Dave Sharkey, president and chief operating officer of Electric
Lightwave, "including the addition of customers in its core western cities,
construction of a long-haul SONET ring connecting those cities and development
of national data services. We expect to experience double-digit,
sequential-quarter revenue growth during the second half of this year -- in
line with our earlier comments to investors."
"Electric Lightwave is continuing its capital spending program," added
Robert DeSantis, chief financial officer of Electric Lightwave and of Citizens
Utilities (NYSE: CZN), which owns 83% of Electric Lightwave. "Citizens
Utilities plans to continue its support for Electric Lightwave's business and
growth. That includes Citizen's current guarantee of Electric Lightwave's
$400 million credit facility, as well as arranging for all funding necessary
to realize Electric Lightwave's strategic objectives. Citizens plans to
continue this support through its new telecommunications holding company when
the previously-announced separation of Citizens public service businesses and
communications businesses into two publicly traded companies is completed."
Electric Lightwave plans to report its third quarter financial results
October 29, 1998.
Electric Lightwave is an integrated communications provider offering data,
Internet access and broadband transport services to businesses nationwide. In
the western U.S., the company is a full-service provider offering local and
long distance telephone service, videoconferencing and prepaid services to
business customers. The company currently serves 83 municipalities with
54,490 access line equivalents, 2,656 route miles and 682 on-net buildings
connected as of June 30, 1998. The company has interconnected its market
clusters with facilities-based owned and leased long-haul fiber optic
networks.
Except for any historical information, the matters discussed in this press
release contain forward-looking statements that involve risks and
uncertainties that are described in the company's filings with the Securities
and Exchange Commission.
SOURCE Electric Lightwave
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Related links:
http://www.eli.net
Company News On-Call:
http://www.prnewswire.com/comp/117258.html or fax,
800-758-5804, ext. 117258
CONTACT:
analysts, Fletcher Chamberlin, 360-816-3996,
or media, Jack Hardy, 360-816-3602, both of Electric Lightwave,
Inc.
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