SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report February 22, 2000
(Date of earliest event reported) (February 22, 2000)
CTC COMMUNICATIONS GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-27505 04-3469590
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification
No.)
220 Bear Hill Rd., Waltham, Massachusetts 02451
(Address of principal executive offices) (Zip Code)
(781) 466-8080
(Registrant's telephone number including area code)
(Former name or former address if changed since last
report)
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Item 5. Other Events
On February 22, 2000 the Registrant issued the following press release:
"CTC Communications Group Declares 3 for 2 Stock Split
- - -Management's Confidence in Steady and Continuing Growth Prompts Split-
WALTHAM, Mass., February 22, 2000-CTC Communications Group Inc.
(NASDAQ:CPTL)-a rapidly expanding provider of state-of-the-art integrated
communications solutions for medium-to-large enterprises in the Northeast
United States - today announced that the Board of Directors has declared a
three for two stock split. Each shareholder of record at the close of
business on March 6, 2000 will receive one additional share for every two
shares owned. The payable date will be on or about March 17, 2000.
Robert Fabbricatore, CTC's Chairman and CEO stated, "Steady growth in the
price of the Company's common stock during the past six months is reflective
of the rapid expansion of the Company as a facilities based provider of
communications services. The decision to declare the stock split was based on
the steady increase in revenues, continuing improvement in operating results
and management's confidence that these trends should continue."
About CTC Communications
CTC is a rapidly growing, full-service Integrated Communications Provider
(ICP) delivering converged voice, data, Internet and video solutions to
medium and larger business customers in the most robust telecommunications
region in the world-the Washington D.C. to Boston corridor. Recently
designated by Bloomberg Personal Finance Magazine as one of the top "one
hundred fastest growing U.S. technology companies," CTC was serving more than
12,000 customers with 269,000+ access lines as of December 31, 1999. Central
to the Company's performance and future growth is its Cisco-powered IP+ATM
Integrated Communications Network (ICN) named IntelliNET(sm), which is deployed
across 8 contiguous northeast states.
CTC markets its full portfolio of services through its 375 member sales and
service representatives located in 28 branch offices throughout the New
England States, New York, New Jersey and Maryland. The Company, through its
dedicated commitment to exceptional customer service, has achieved an
industry-leading market share in the northeast and an industry-leading
monthly line retention rate in excess of 99 percent. CTC can be found on the
worldwide web at www.ctcnet.com
The statements in this press release that relate to future plans, events or
performance are forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially from those
reflected in the forward-looking statements including continued revenue
growth and improvement in operating results. Readers are, accordingly,
cautioned not to place undue reliance on these forward-looking statements,
which speak only as to the date hereof. Additional information about these
risks and uncertainties is set forth in the Company's most recent report on
Form 10-Q. CTC undertakes no obligation to release publicly the results of
any revisions to these forward-looking statements that may be made to reflect
results, events or circumstances after the date hereof.
# # #
Contact: John Dinsmore John Pittenger
Feldman Communications Inc. CTC Communications
410-571-8900 (t) 781-522-8731 (t)
[email protected] (e) [email protected]
www.FeldmanCommunications.com www.ctcnet.com"
<PAGE>
SIGNATURES
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.
CTC COMMUNICATIONS GROUP, INC.
By: /s/ John D. Pittenger
John D. Pittenger,
Executive Vice President, Finance and Administration
Dated: February 22, 2000
