Earnings drop by 10% at Southwestern Bell

Article Abstract:

Southwestern Bell Corp reports a 10 percent drop in earnings for the 4th qtr 1990. The telephone company attributes the drop in earnings to a one-time charge of $45 million, which is the result of a voluntary severance and retirement program that 1,100 managers took advantage of. Fourth qtr 1990 earnings were $267.5 million, or 89 cents a share, on revenue of $2.45 billion. Earnings for the same period in 1989 were $297.2 million, or 99 cents a share, on sales of $2.32 billion. Southwestern Bell's earnings increased 5.1 percent for the 4th qtr in 1990 when the $45 million charge is excluded. The telephone company's stock falls $2.375 a share to $50.25 a share on Jan 23, 1991.

SBC, Growth (Physiology), Southwestern Bell Corp., Growth, Financial Report, Bell Regional Holding Companies, Fourth Quarter

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A.T.&T. net up 3.6%, as Nynex profit rises 13.9%

Article Abstract:

AT&T reports net income in the 2nd qtr of 1992 up by 3.6 percent, to $961 million. Revenue is up less than one percent, at $15.85 billion. AT&T says a comparison with the 2nd qtr in 1991 is misleading because last year's numbers were helped by a one-time gain resulting from an $87 million sale of Sun Microsystems' stock. AT&T's own stock closed up 75 cents, at $44.875. Nynex Corp reports 2nd qtr earnings up 13.9 percent, to $331.1 million, or $1.62 a share. Revenue for the 2nd qtr fell 2.3 percent, to $3.28 billion. Nynex says that its cellular telephone income increased by 24 percent, to $21.7 million, and revenue increased 7.5 percent, to $89.9 million.

Electronic computers, Prepackaged software, T, American Telephone and Telegraph Co., Stock, Second Quarter, NYNEX Corp., NYN

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