3 of 4 Bell companies post drop in earnings

Article Abstract:

Four regional telephone companies - Nynex Corp, Bell Atlantic Corp, BellSouth Corp and US West - report 1st qtr earnings for 1991 and the results suggest that the recession has had a significant effect. Nynex reports that net income is down 7.5 percent. Net income for the company fell to $269.5 million ($1.34 a share) from $291.4 million ($1.46 a share) in the comparable period a year preceding. Bell Atlantic reports net income of $353.6 million, which is slightly less than the $355.3 million that the company reported last year. BellSouth says net income is down 4.9 percent to $402.3 million (83 cents a share) from $423.2 million (88 cents a share) a year ago. US West says net income is up 5.1 percent, to $285.9 million from $271.9 million. These results tend to confirm a trend established by reports that came out earlier in the week.

Prepackaged software, Radiotelephone communications, Miscellaneous publishing, Telephone companies, Profits, Bell Atlantic Corp., BellSouth Corp., U S WEST Inc., BEL, BLS, USW, Regional Bell Operating Companies, Telephone Company, Profit, Financial Report, NYNEX Corp., Bell Regional Holding Companies, NYN, First Quarter

---

Rising woes cast doubt on Globalstar survival

Article Abstract:

For the third quarter, Globalstar Telecommunications Ltd. reported a loss of $219 mil, or $1 per share. Revenue was $1.19 mil. Stock was trading at $2.38, down from a Jan 3 high of $53.75. Loral Space and Communications president Bernard L. Schwartz was quoted as saying his company wasn't going to invest more money in the $4.3 bil network of 52 satellites. Loral holds 38% of Globalstar. Mr. Schwartz later said his remarks were misconstrued. Globalstar said it had 2.3 bil in billable minutes for the third quarter, up from 1.1 mil in the second quarter.

Sales, profits & dividends, Telecommunications, Satellite Communications, Satellite Telecommunications, Statistical Data Included, Securities, Satellite communications services industry, Globalstar Telecommunications Ltd., GSTRF

---

S.E.C. Brings Fraud Suit Against Ex-Qwest Officials

Article Abstract:

The Securities and Exchange Commission has sued former CEO Joseph P. Nacchio and six other Qwest Communications executives for fraud, and is trying to force them to give back some of their earnings.

Legal issues & crime, Financial management, Communications, Broadcasting and Telecommunications, Executive changes & profiles, Personnel administration, Police Protection, Legal/Government Regulation, Fraud, Officials and employees, Company legal issue, Cases, Compensation and benefits, Communications industry, Chief executive officers, Qwest Communications International Inc., United States. Securities and Exchange Commission, Nacchio, Joseph

Similar abstracts:

• Abstracts: Phone companies work on ringing in extra lines. Phone service complaints hit record. AT&T wireless business shares will go public
• Abstracts: Motorola to announce advance in chips. I.B.M. invests to profit from latest chips. Intel logs 80% rise in net and big revenue growth
• Abstracts: Nortel in talks with Corning on optics. Corning's autonomy an issue 'of perception,' analyst says. Cisco head says Nortel approach outdated
• Abstracts: Oil giants report earnings doubled. Bear turns a baffling 3. Uneasy investors wonder if it's time to cash in
• Abstracts: Retirees cite production practices. Hearings offer chance to vent, but little else. Firestone puts 'best theory' forward

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