Click the links above to navigate to the financial statements.
The statements were posted alongside the following press release:
DMTS still very much in business
DMTS would like to take this opportunity to reassure its valued customers that, while we are working through difficult financial times, we are here to serve you for your telecommunications needs. We would like to thank those customers who have remained loyal; without your support DMTS would not be the local asset that it is today.
DMTS has served the community and region for nearly one hundred years. Throughout this long and proud history, the organization has strived to provide the residents and businesses of the City of Dryden and area with exceptional service at a value that is second to none. Furthermore, DMTS supports local events, clubs, teams, concerts and festivals.
Through the delivery of services DMTS provides the Dryden area with fulltime employment for 30+ people. Currently DMTS fuels the local economy with an economic impact of an estimated ten million dollars annually and has done so for many years.
The services and technologies provided have facilitated opportunity for business developments both local and regional.
Though the audited statements indicate financial difficulty in delivering cellular services to the City and area, DMTS Voice & Internet services are self-sustaining. These revenue streams are profitable and encompass fifty percent of DMTS’ service delivery options.
In early 2011, a renowned industry consultant was hired to evaluate DMTS’ business processes and assisted Management in the development of a strategic business plan for the years to come. Through that process many issues were identified and presented to City Council and the Management team. Many of these issues have been addressed and improvements will be in place by mid-2012. A major remaining issue is related to the delivery of cellular services in a cost effective manner.
The cellular telephone industry has begun to move at an alarming rate of speed. The industry is constantly evolving, offering newer technologies that deliver faster, more efficient services that are extremely capital intensive to service providers and require a great deal of operating income to remain sustainable. 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.
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.