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(RTTNews) - Friday, Telephone and Data Systems, Inc. (TDS) announced its first-quarter financial results, reporting a net income from continuing operations to common shareholders of $146.6 million, or $1.11 per share, compared with a net loss of $5.9 million, or $0.20 per share, in the prior year.
Total operating revenue for the period stood at $309.45 million, up 7 percent from $290.4 million in the previous year.
Looking ahead to full year 2026, the company expects total operating revenues of $1,015-$1,055 million for TDS Telecom, and $200-$215 million for Array.
Concurrently, the company has submitted an acquisition proposal to the Board of Directors of Array Digital Infrastructure, Inc. As per the proposal, each Array common share not owned by TDS would be exchanged for 0.86 of a TDS common share.
"As TDS continues its transformation, this proposal is the next step in executing our strategy, simplifying our corporate structure and enhancing our ability to invest in targeted areas of growth," said Walter Carlson, President and Chief Executive Officer of TDS.
In the pre-market hours, TDI is trading at $46.72, up 2.68 percent on the New York Stock Exchange.
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