SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 9, 2002
CITIZENS COMMUNICATIONS COMPANY
(Exact name of Registrant as specified in its charter)
Delaware 001-11001 06-0619596
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
3 High Ridge Park
Stamford, Connecticut 06905
(Address of Principal Executive Offices) (Zip Code)
(203) 614-5600
(Registrant's Telephone Number, Including Area Code)
No Change Since Last Report
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(Former name or former address, if changed since last report)
Item 5. Other Events.
Citizens Communications today provided 2002 guidance for its rural
local exchange carrier (RLEC) and competitive local exchange carrier
(CLEC) operations.
Item 7. Financial Statements, Exhibits
(c) Exhibits
99.1 Press Release of Citizens Communicaitons Company released January
9, 2002 providing 2002 guidance for its rural local exchange carrier
(RLEC) and competitive local exchange carrier (CLEC) operations.
Citizens Communications
3 High Ridge Park
Stamford, CT 06905
203.614.5600
Web site: www.czn.net
FOR IMMEDIATE RELEASE
Contact:
Donald B. Armour
Vice President, Finance
(203) 614-5124
darmour@czn.com
CITIZENS COMMUNICATIONS PROVIDES GUIDANCE FOR 2002
STAMFORD, Conn., Jan. 9, 2002 - Citizens Communications (NYSE: CZN, CZB) today
provided 2002 guidance for its rural local exchange carrier (RLEC) and
competitive local exchange carrier (CLEC) operations. Guidance for the company's
2.5-million access lines RLEC business is revenue of $2.1 billion; Adjusted
EBITDA (operating income plus depreciation and amortization), before
restructuring expenses, of $1.09 billion; capital expenditures of $437.5
million; interest expense of $420.0 million; and free cash flow of $232.5
million.
For Electric Lightwave, Inc. (NASDAQ: ELIX), a CLEC that is 85 percent owned by
Citizens Communications, 2002 guidance is revenue of $250.0 million; Adjusted
EBITDA of $22.0 million; and capital expenditures of $75.0 million.
About Citizens Communications
Citizens Communications serves 2.5 million telephone access lines in 24 states.
Citizens owns approximately 85 percent of Electric Lightwave, Inc., a
facilities-based, integrated communications provider that offers a broad range
of services to telecommunications-intensive businesses in the West. More
information on Citizens can be found at www.czn.net. This document contains
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed or implied
in the statements. These and all forward-looking statements (including oral
representations) are only predictions or statements of current plans that are
constantly under review by the company. All forward-looking statements may
differ from actual results because of, but not limited to, changes in the local
and overall economy, changes in market conditions for debt and equity
securities, the nature and pace of technological changes, the number and
effectiveness of competitors in the company's markets, success in overall
strategy, changes in legal or regulatory policy, changes in legislation, the
company's ability to identify future markets and successfully expand existing
ones, the mix of products and services offered in the company's target markets,
the effects of acquisitions and dispositions and the ability to effectively
integrate businesses acquired. These important factors should be considered in
evaluating any statement contained herein and/or made buy the company or on its
behalf. The foregoing information should be read in conjunction with the
company's filings with the U.S. Securities and Exchange Commission including,
but not limited to, reports on Forms 10-K and 10-Q. The company does not intend
to update or revise these forward-looking statements to reflect the occurrence
of future events or circumstances. ###
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CITIZENS COMMUNICATIONS COMPANY
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(Registrant)
By: /s/ Donald Armour
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Donald Armour
Vice President, Finance and Treasurer
Date: January 9, 2002