UNITED STATES
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 16, 2007
___________________
Shenandoah Telecommunications Company
_________________________________________________
(Exact name of registrant as specified in its charter)
___________________
| Virginia (State or other jurisdiction of incorporation) |
0-9881 (Commission File Number) |
54-1162807 (IRS Employer Identification No.) |
| 500 Shentel Way P.O. Box 459 Edinburg, VA (Address of principal executive offices) |
22824 (Zip Code) |
Registrant’s telephone number, including area code: (540) 984-4141
Not applicable
_________________________________
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|
o |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
o |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
o |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2-(b)) |
|
o |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
1
Item 8.01 Other Events.
On January 16, 2007, the Company issued a press release reporting year end customer results for the year ended December 31, 2006. A copy of the press release is included as Exhibit 99.1 to this report.
Item 9.01 Financial Statements and Exhibits.
|
|
(c) |
Exhibits |
SIGNATURE
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.
SHENANDOAH TELECOMMUNICATIONS COMPANY
(Registrant)
|
|
January 17, 2007 |
/s/ Earle A. Mackenzie |
Earle A. Mackenzie
Executive Vice President and
Chief Financial Officer
(Duly Authorized Officer and Principal Financial Officer)
2
|
NEWS RELEASE |
Exhibit 99.1 |
For further information, please contact Earle A. MacKenzie at 540-984-5192.
SHENANDOAH TELECOMMUNICATIONS COMPANY ANNOUNCES
YEAR END CUSTOMER RESULTS
EDINBURG, VA, (January 16, 2007) – Shenandoah Telecommunications Company (Shentel; NASDAQ: SHEN) today announced year end customer results for 2006. As a Sprint PCS Affiliate of Sprint Nextel, the Company’s PCS operations added 11,909 net retail customers in the fourth quarter and 30,528 net retail customers for the year. Year end 2006 retail customers were 153,503, an increase of 24.8%. These results represent an 82.8% increase over the net adds in the fourth quarter of 2005 and a 49.8% increase over the net adds in the same 12 months of 2005. The Company had fourth quarter retail PCS churn of 1.9%, the same as the fourth quarter of 2005. The 2006 annual retail churn rate was 1.9%, an improvement from 2.0% in 2005.
Wholesale PCS customers increased by 7,095 in the fourth quarter of 2006 and 10,652 for the year, resulting in 49,378 wholesale customers at year end 2006. The Company added 4,878 wholesale PCS customers in the fourth quarter of 2005 and a total of 11,389 for 2005.
The Company had a net increase of 632 DSL customers in the fourth quarter of 2006 and 1,851 for the year, to end 2006 at 6,599, which represents an increase of 39.0%. During 2005, Shentel completed a multi-year project to make DSL available to 100% of its access lines, therefore providing all Shenandoah Telephone customers with access to broadband services.
Shenandoah Telephone ended 2006 with 24,830 access lines, an increase of 90 for the year. Shentel Converged Services (NTC) ended 2006 with 8,989 video users, 21,943 internet
January 18, 2006
News Release
Page 2 of 2
users and 4,492 phone users, an increase of 528, and a decrease of 958 and 5,422 respectively from year end 2005. Shenandoah Cable had a decrease of 244 subscribers in 2006 to a total of 8,440.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a holding company that provides a comprehensive portfolio of telecommunications products and services through its operating subsidiaries. The Company is traded on the NASDAQ National Market under the symbol “SHEN.” The Company’s operating subsidiaries provide local and long distance telephone, internet and data services, cable television, wireless voice and data services, alarm monitoring, and telecommunications equipment, along with many other associated solutions in the Mid-Atlantic and Southeastern United States.
|
|
_______________________________ |
Earle A. MacKenzie
Chief Financial Officer
This release contains forward-looking statements that are subject to various risks and uncertainties. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of unforeseen factors. A discussion of factors that may cause actual results to differ from management’s projections, forecasts, estimates and expectations is available in the Company filings with the SEC including the Company’s 2005 Annual Report on Form 10-K. Those factors may include changes in general economic conditions, increases in costs, changes in regulation and other competitive factors. The Company expressly disclaims any obligation to update or review any forward-looking statements contained in this release.
#####