In this paper, a pitch cycle waveform (PCW) is extracted, quantized, and interpolated in a time domain to synthesize high-quality speech at low bit rates. The pre-alignment technique is proposed for the accurate and efficient PCW extraction, which predicts the current PCW position from the previous PCW position assuming that pitch periods evolve slowly. Since the pitch periods are different frame by frame, the original PCW is converted into the fixed-dimension PCW using the dimension-conversion method, and subsequently quantized by code-excited linear predictive (CELP) coding. The excitation signal for the linear predictive coding (LPC) synthesis filter is generated using the time-domain interpolation and interlink of the quantized PCW's. The coder operates at 4.2 kbit/s and 3.2 kbit/s depending on the pitch period. Informal listening test demonstrates the effectiveness of the proposed coding scheme.