U S West Communications' earnings fall 45% on big charge due to refund

Article Abstract:

U S West Communications Group announced that its 4th qtr 1997 income totaled $170 million, a 45% decline from the 4th qtr 1996 amount of $311 million. The 4th qtr 1997 performance included a $32 million after-tax gain, or seven cents a share, from the sale of research company Bellcore. U S West also absorbed a charge of $250 million, or 32 cents a share, for a range of regulatory costs. Basic earnings dropped 46%, from 65 cents in the 4th qtr 1996 to 35 cents in the 4th qtr 1997. The U S West telephone subsidiary would have reported diluted and basic per-share earnings of 60 cents for the 4th qtr 1997, excluding special charges and gains. This amount surpasses analysts' consensus estimates of 59 cents. Growth in access lines and strong demand for services like voice-messaging and call-waiting helped the publicly traded company.

Wired Telecommunications Carriers, Telephone Communications, Telephone services, Company sales/revenue, Company sales and earnings, Company earnings/profit

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U S West to take big charge in quarter, slicing 1991 profit about $1.47 a share

Article Abstract:

U S West is taking a $590 million after-tax charge in 4th qtr 1991 to cover a 6,000 worker layoff program, a real estate exit and various re-valued assets. The company's actions will probably cut 1991 profits by $1.47 a share and will place U S West in a more secure long-term position. Other regional Bell companies such as Nynex Corp, Bell Atlantic Corp and Bell South have also announced charges, work force reductions and early retirement plans. The plans to cut 6,000 jobs mostly affects company managers and workers in the local phone business and will begin in early 1992. Phone directories, once a safe bet for phone companies, are now being modified, and expansion plans for directory publishing have been curtailed.

Radiotelephone communications, Planning, Telephone companies, Profits, USW, Downsizing (Management), Financial Analysis Software, Telephone Company, Profit, Stock, Bell Regional Holding Companies, Fourth Quarter, Work Force Reduction

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