AT&T weighs up to $4 billion in charges in '91; office phone business, costs to absorb NCR cited; 2nd-period net up 26%

Article Abstract:

AT&T indicates that, because of its acquisition of NCR Corp, restructurings and losses in its telephone equipment business, the telecommunication giant could report as much as $4 billion in charges in 1991. Despite this AT&T does not expect a loss overall. AT&T reports a 26 percent increase in net income for 2nd qtr 1991, citing sales of investments in Sun Microsystems Inc as a reason. Income in the 2nd qtr was $828 million, or 75 cents a share, compared with $657 million, or 60 cents a share, in the same period in 1990. Revenue is up 5.3 percent, to $9.53 billion, from $9.04 billion. According to industry analysts AT&T is turned around and moving in the right direction.' AT&T Chmn Robert E Allen says the company's results are 'especially gratifying in view of the recession.' AT&T's stock ends up $1.625 on Thursday, Jul 18, 1991, closing at $39.625.

Telephone and telegraph apparatus, Electronic computers, Mergers, acquisitions and divestments, Telephone companies, Telecommunications equipment industry, NCR Corp., NCR, Cost control, Cost, Telephone Company, Cost Reduction, Stock, Acquisition, Losses, Second Quarter

---

AT&T earnings advanced 1.9% in 3rd quarter; foreign sales of equipment, long-distance strength, gave 5.2% revenue gain

Article Abstract:

AT and T reports increased earnings for its 3rd qtr 1990 based largely on strong international equipment sales. The firm's profit increased to $712 million, up 1.9 percent from the $699 million posted for the same period a year ago. Revenue for the third quarter is up 5.2 percent to $9.36 billion from $8.90 billion for the comparable period a year ago. AT and T's long-distance business remained solid according to analysts, and overall the results were better than many had expected. The firm claims to be pleased with results in the light of a weakening economy and the intense competitive pressures. Analysts say it is unclear what effects AT and T's new Universal credit card had on earnings.

Financial Analysis Software, Third Quarter, Financial Report

---

Similar abstracts:

• Abstracts: Xerox posts quarterly loss of $736 million; special charges are cited; core business shows gains, and stock climbs
• Abstracts: AT & T net rose 12%, sales 2.7% in 1st quarter; long-distance operations, slimmer costs cited; network failure hurts
• Abstracts: MCI decides to offer payout semiannually. MCI posts net for 3rd period; stock drops $3
• Abstracts: Bell Atlantic sues to change 1984 Cable Act. Phone listings can be copied, justices decide
• Abstracts: Digital outlines spending cuts of $400 million: broad reorganization plan said to seek to refocus engineering, research

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.