February 3, 2005

Cincinnati Bell said it needs additional time to file its fourth-quarter results, as it goes through its complex refinancing plan. The company also repeated its full-year 2004 guidance.

The company plans to issue its latest quarterly results on Feb. 15, six days after originally scheduled. At the time of the announcement, the service provider expects to announce the addition of 2,000 wireless customers in the fourth quarter, with slightly improved quarter-over-quarter postpaid monthly churn at 2.78 percent.

Cincinnati Bell is maintaining its outlook for 2004, which calls for 7,000 net wireless additions for the year, which would bring the company's wireless subscriber base to 481,000, the lion's share of which (306,000) are postpaid.

The company still expects to report a net revenue decline, excluding broadband services, of low single-digit percent. It also will report a debt reduction of $140 million and that free cash flow was recorded at more than $160 million.

In August 2004, Cincinnati Bell inked a deal with Cingular to gain access to reduce roaming rates in exchange for dissolving a non-compete clause in its joint-venture agreement with AT&T Wireless that covered southwestern Ohio, northern Kentucky and southern Indiana.

Moody's Investors Service upgraded Cincinnati Bell's rating last week.

Source: Wireless Week

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