This excerpt taken from the VZ 8-K filed Apr 27, 2009.
Disciplined Approach in Challenging Environment
Our business groups executed with excellence in the first quarter, said Verizon Chairman and CEO Ivan Seidenberg. Our operational and financial discipline produced continued revenue and earnings growth, as well as an expansion of our already strong operating
Verizon News Release, page 3
cash flows. A highlight of the quarter was our successful completion of the Alltel acquisition. We quickly began integration efforts, and we are aggressively pursuing synergies.
Seidenberg added: In this challenging economic environment, we remain focused on delivering value to customers and on returning cash to our shareowners, with an attractive dividend. Verizon is in a unique position. We are tapping into new market opportunities in wireless, broadband, video and global enterprise, and we already have the assets and capabilities to sustain our cash flows and grow total shareholder returns.