Telephone And Data Systems Q4 Loss Narrows - Update

(RTTNews) - Telephone and Data Systems, Inc. (TDS, TDI) Wednesday reported a narrower loss for the fourth quarter, reflecting 14 percent fall in operating expenses, despite lower revenues.

For the fourth-quarter net loss available to shareholders was $6.1 million, compared to a loss of $41.9 million in the prior year. Loss per share narrowed to $0.06 from $0.39 per share last year.

According to the provider of telecommunications services, year-over-year comparisons are affected by U.S. Cellular's Divestiture Transaction, deconsolidation of certain U.S. Cellular partnerships, and acquisitions at TDS Telecom, in 2013. On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.49 for the quarter. Analysts' estimates typically exclude special items.

Operating revenues for the quarter declined 12 percent to $1.18 billion from $1.35 billion a year earlier. Analysts expected revenue of $1.21 billion for the quarter.

Total operating expenses were $1.20 billion, down 14 percent from the preceding year.

"Throughout the year, our businesses took strategic actions to compete more effectively and position us well for the future, and these actions impacted our financial results," said LeRoy Carlson, Jr., president and CEO.

The board has also declared a first quarter 2014 dividend of $0.134 per common share and series A common share, to shareholders on record March 14, 2014, payable March 31.

TDS closed Tuesday's regular trading at $24.37 on the NYSE, while TDI ended at $24.19.