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    Telco Communications Group Inc.
    list rank

    From the April 28, 1997 Washington Post

    '96 (in $ 000s) % Change From '95
    Revenue 428,552 99.0
    Net Income 22,877 112.5
    Rank Last Year: None

    Telco Communications is a nationwide discount long-distance telephone company that leases calling capacity from larger carriers at wholesale rates and resells it to customers through its Dial & Save and Long Distance Wholesale Club plans. It owns a nationwide telephone switching network used to route its calls.

    Business Resume:
    • Contact Info --
      4219 Lafayette Center Dr.
      Chantilly, Va. 20151
    • Main Business --
    • Founded --
    • Chairperson --
      Henry G. Luken III
    • President --
      Donald A. Burns (CEO)
    • Employees --
    • D.C.-Area Employees --
    Telco has emerged as a front-runner in the fast-growing discount long-distance market, offering connections at 15 percent to 50 percent below basic non-discount rates of AT&T and other industry giants. Customers reach Telco by dialing a five-digit access code before placing long-distance calls.

    Since 1993, when founders Henry G. Luken III and Donald A. Burns launched the Dial & Save service, Telco's revenue has risen dramatically. It vaulted to $428.6 million in 1996, almost double the previous year's total.

    The company went public in August, raising $77 million. Since then, its stock has climbed from $14 a share to more than $20 a share.

    Telco plans to use the same strategy to enter local phone markets, an avenue opened to long-distance carriers by the Telecommunications Act of 1996. As of last month, it had received regulatory approval from 20 states and had applications pending in 14 more. It also plans a $170 million investment in a fiber-optic transmission system to replace its current leased connections.

    Copyright 1997 The Washington Post

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