Dryden Observer Staff
Financial statements for the cellphone division of Dryden’s municipally owned telecom confirm that the company is in a difficult financial position, though Dryden Municipal Telephone System (DMTS) says it is still very much in business.
Posted on the City of Dryden website, April 3, the 2011 Dryden Mobility audited financial statement showed a loss of $3,661,535 over the past year and a mounting deficit of $8,345,641.
DMTS’s landline and Internet services fared significantly better in 2011, turning a profit of $325,032.
A statement from DMTS appeared in concert with the financial statements, thanking loyal customers and affirming the company’s continued operation and profitability of its core services. The company employs over 30 people locally, with an estimated financial footprint of $10 million annually.
“Though the audited statements indicate financial difficulty in delivering cellular services to the City and area, DMTS Voice and Internet services are self-sustaining. These revenue streams are profitable and encompass 50 per cent of DMTS’ service delivery options,” reads the statement.
As for the challenges facing Dryden Mobility, the statement indicates that investments in certain technologies have not delivered the expected returns.
“DMTS entered the cellular market with a promise of a ‘somewhat future-proof’ technology at a time when technologies were changing and service delivery partnerships were of the greatest importance. Since that transition was made in 2008, DMTS has faced countless hurdles, both strategic and technological. The Management and Staff have put in countless hours of time and effort to deliver a quality of service that customers require and expect. The chosen technology, in the end, has fallen far short of promised capabilities and DMTS has aggressively investigated and pursued replacement options.”
Looking forward, the statement says Dryden Mobility will evolve in an effort to regain sustainability.
“Currently, DMTS is exploring partnerships and entertaining alternative service delivery methods in order to resolve its financial and technological challenges and continue to serve the community it has called home for the past century.
DMTS will evolve its business, not only to meet customer expectations and business goals, but to regain financial sustainability.”