Ellipses indicate material omitted from a quotation. This is the one universally accepted use of ellipses.
Note: Although most style guides consulted separate ellipses with spaces ( . . . ), The New York Times Manual of Style and Usage specifies that ellipses themselves are separated by thin spaces—thinner than ordinary spaces, and The AP Stylebook specifies that ellipses have no spaces( ... ).
The American Heritage Dictionary, the Publication Manual of the APA, The Chicago Manual of Style, the MLA Style Manual, and The New York Times Manual of Style and Usage suggest retaining the period at the end of a sentence if it comes before ellipses.