Three regional Bell companies post results for the fourth quarter, year
Article Abstract:
Three Bell operating companies - Nynex Corp, Southwestern Bell Corp and BellSouth Corp - post small profits for 4th qtr 1991 if restructuring and other charges are excluded. Nynex Corp reports a major loss because of a $211 million reorganization charge after its sale of Nynex Business Centers. Revenues for the quarter are down 5.8 percent, from $3.44 billion a year earlier, to $3.24 billion. Customer phone lines are up 1.2 percent, to 15,455,000, in Dec 1991. Southwestern Bell, meanwhile, posts $2.5 billion in revenue, up from $2.4 billion in 1990. The firm is taking a $30 million charge for layoffs in the quarter as well as a one-time charge of $81 million for payment of long-term debts for the year. In 4th qtr 1990, BellSouth is taking a one-time charge $65 million, or 13 cents per share. Revenue is up 1.2 percent, from $3.65 billion to $3.69 billion. Southern New England Telecommunications Corp's (SNET's) finances are also discussed. SNET's revenue is up, to $409.8 billion from 406.1 billion.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Several regional telephone companies post mixed results for third quarter
Article Abstract:
Five regional telephone companies report mixed 3rd qtr results, ranging from a 12 percent increase in profits to a 20 percent decrease. BellSouth Corp earnings increased 12 percent despite paying one-time charges of 11 cents a share on an early-retirement incentive program and an accounting change in cellular phone operating; revenue was $3.63 billion. Southwestern Bell Corp added 70,000 customers in the quarter; revenue increased 2.4 percent from $2.37 to $2.42 billion the year previous; and earnings rose 12 percent. NYNEX Corp revenue fell 3.5 percent from $3.39 to $3.27 billion, and the company cited the selling of operations for the decline in operating revenue and expenses. Cincinnati Bell Inc suffered from rising costs and regulated prices. The company reported a 8.3 percent increase in revenue, from $263.2 to $285.2 million, and a 20 percent decrease in earnings for the quarter.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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Comment about this article or add new information about this topic:
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