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:
October 14, 1998
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(Date of earliest event reported)
Electric Lightwave, Inc.
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(Exact name of Registrant as specified in charter)
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Delaware 0-23393 93-1035711
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
4400 NE 77th Avenue, Vancouver, WA 98662
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(Address of principal executive offices) (Zip Code)
(360)892-1000
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(Registrant's telephone number, including area code)
No change since last report
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(Former name or address, if changed since last report)
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Item 5. Other Events.
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This report is being filed to make available the following press release dated
October 14, 1998.
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ELECTRIC LIGHTWAVE AFFIRMS POSITIVE OUTLOOK
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VANCOUVER, Wash., Oct. 14 /PRNewswire/ -- Electric Lightwave, Inc. (Nasdaq: ELIX
- - news), 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 - news), 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.
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SIGNATURES
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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 hereunto duly authorized.
Electric Lightwave, Inc.
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Registrant
By: /s/ Kerry D. Rea
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Vice President and Controller
Date: October 15, 1998
