766561--3/14/2007--HICKORY_TECH

related topics

{product, market, service}

{regulation, government, change}

{personnel, key, retain}

{system, service, information}

{operation, international, foreign}

{acquisition, growth, future}

{loss, insurance, financial}

{debt, indebtedness, cash}

{cost, contract, operation}

{financial, litigation, operation}

{control, financial, internal}

{provision, law, control}

{competitive, industry, competition}

{cost, operation, labor}

{stock, price, operating}

A lack of parity between us and our competitors concerning regulatory fees and assessments and tax laws could adversely impact our ability to profitably compete Consolidation among our customers could result in our losing a customer or experiencing a slowdown as integration takes place Many of our competitors are major communications companies that have more extensive resources . Shifts in our product mix may result in declines in operating profitability Technological advances in the telecommunications industry create increased operating costs The telecommunications industry is highly competitive. We depend on third parties, over whom we have no control, to deliver our services We expect to continue to face significant competition in all parts of our business and the level of competition is expected to intensify . We may be nearing the end of the growth phase of our CLEC edge-out strategy initiated in 1998, as the additions for market share penetration in CLEC communities is surpassed by competition and customer churn . We may not be able to successfully introduce new products and services We may not accurately predict technological trends or the success of new products in these markets We operate our network and our business under contracts and franchises that are subject to non-renewal or termination A failure in our operational systems or infrastructure could impair our liquidity, disrupt our business, damage our reputation and cause los Employee misconduct is difficult to detect and prevent, and may have an adverse effect on the Company s business Our businesses may be adversely affected if we are unable to hire and retain qualified employees Our operations have undergone material changes, and our actual operating results can be expected to differ from the results indicated in our historical financial statements Unanticipated increases in capital spending, operating or administrative costs, or the impact of new business opportunities requiring significant up-front investments We may not be able to manage our growth effectively As an ILEC in our service area, we are subject to regulation that is not applicable to our competitors Future regulation may result in lower revenues Changes to laws and regulations to which we are subject, and the introduction of new technologies, may result in reduction of revenues from network access charges A failure to maintain effective internal controls could adversely affect our business Anti-takeover provisions in our charter documents, our shareholder rights plan and Minnesota law could prevent or delay a change in control of our Company Customer payment defaults could have an adverse effect on our financial condition and results of operations If we seek to secure additional financing, we may not be able to obtain it. Also, if we are able to secure additional financing, our shareholders may experience dilution of their ownership interest or we may be subject to limitations on our operations Our indebtedness could restrict our operations Our stock price is volatile We are subject to risks associated with changes in interest rates We may encounter litigation that has a material impact on our business

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766561--3/14/2007--HICKORY_TECH_CORP