Bell firms post mixed results for 2nd quarter
Article Abstract:
Three of the telephone companies comprising the Bell Regional Holding Companies (BRHC) report 2nd qtr 1990 profits. NYNEX Corp announces a 7.7 percent rise in net income, although overall results are effected by the cost of an early retirement program. BellSouth Corp's revenue for the quarter shows only a 5.7 percent increase because of rate reductions in several southern states. BellSouth's cellular division's move from a $2.6 million loss in the 2nd qtr of 1989 to $13.1 million in income in the same period for 1990 contributes to the company's income growth. Ameritech indicates one of the larger profit increases, an 11.3 percent growth based on installed access lines and usage. Pacific Telesis's 2nd qtr results reveal an 8.9 percent decline in earnings per share while Southwestern Bell's financial report shows basically flat earnings, with net income increasing only 0.4 percent.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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U S West's chief to quit position, remain chairman
Article Abstract:
U S West CEO Jack A. MacAllister, 63, is retiring from his post Dec 31, 1990, and is being replaced by Richard D. McCormick, 50. McCormick will remain president and chief operating officer and MacAllister will remain chairman. Analysts foresee a smooth transition. MacAllister has headed U S West since the announced breakup of the Bell system in 1982. McCormick plans to build the telephone company's core and related businesses by improving products. McCormick is also expanding U S West's interests overseas. U S West has embarked on a five-year, $10 billion program to bring digital switching and fiber optics to its network. U S West posted earnings of or $6.02 a share, or $1.11 billion, on revenue of $9.69 billion in 1989.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Bell Atlantic to buy Simborg, hospital data systems firm
Article Abstract:
Bell Atlantic Corp will acquire Simborg Systems Corp through a complete securities transfer and rename it Bell Atlantic Healthcare Systems. Its primary product remains STAT LAN, a hospital information management system. STAT LAN acts as a backbone for hospital departments to run their own local area network systems and microcomputers and to communicate with each other. Bell Atlantic's resources will enable the transformed Simborg to expand its activities in the health care industry. The company will continue to be active in the development of open architecture systems for hospitals. Bell Atlantic Healthcare Systems will market STAT LAN and take over Simborg's role in existing joint marketing agreements.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Comment about this article or add new information about this topic:
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