text: Operating income grew to $9.3 million, an increase of $2.9 million or 45.4%. Revenue growth, primarily in the PCS 
  operation, was greater than the increase in operating expense, and the overall operating margin was 10.0%, compared 
  to 9.4% in 2001. The elevated bad debt expense in the PCS and telephone operations had a dampening effect on the 
  operating margin improvement. 
  
  Other income (expense) is comprised of non-operating income and expenses, interest expense and gain or loss on 
  investments. Collectively, the net impact of these items to pre-tax income was an expense of $14.3 million for 2002, 
  compared to income of $9.1 million from 2001. The largest component was the loss on investments that is discussed 
  below. 
  
  Interest expense was $4.2 million, an increase of $0.1 million or 1.4%. The Company’s average debt outstanding was 
  approximately the same during 2002 as compared to the previous year. 
  
  Net losses on investments were $10.0 million, compared to a gain of $12.9 million from 2001. Results in 2002 include 
  the sale of the VeriSign, Inc. stock for a loss of $9.0 million compared to a gain recorded on the VeriSign stock of 
  $12.7 million in 2001. 