Net dips at United Telecom; GTE, Southwest Bell in rise

Article Abstract:

United Telecom reports a small drop in 3rd qtr 1990 earnings. The company earned 41 cents a share, or $90 million, while posting revenue of $2.1 billion. In 3rd qtr 1989, the company earned $95 million on revenue of $1.9 billion. United Telecom says that laying off 1,000 employees and reassigning hundreds of others has begun to improve finances, but that more layoffs might be impending. GTE Corp and the Southwestern Bell Corp both experience growth in the number of telephone lines they serve, and both companies reduce costs. GTE earn 59 cents a share, or $409 million, on 3rd qtr 1990 sales of $4.6 billion. Southwestern Bell reports net income for the 3rd qtr of $323.6 million, or $1.08 a share, on sales of $2.4 billion. U S Sprint, United Telecom's chief subsidiary, reports operating profits of $53.9 million on sales of $1.28 billion compared to $62.2 million and $1.11 billion in 1989.

GTE Corp., Sprint Corp., GTE, SBC, Southwestern Bell Corp., Revenue, UT

---

MCI posts large loss in quarter

Article Abstract:

MCI Communications Corp announces a significant loss for the 3rd qtr 1990. Ameritech, BellSouth and Pacific Telesis all report marginally improved earnings. MCI's loss is attributed to a one-time charge of $550 million relating to expenses incurred in converting its network over to digital technology. MCI's revenue for the period is $2 billion, compared with $1.67 billion for the same period a year ago. Ameritech reports an increase in profits of 7.6 percent, to $311.2 million, from $289.1 million for the same period a year ago. BellSouth reports its profits declined slightly to $402.9 million on sales of $3.55 billion, compared with profits of $404.4 million on the same amount of sales one year ago. Pacific Telesis reports a slight earnings increase, to $285 million, from $278 million for the same period a year ago.

BellSouth Corp., BLS, MCI Communications Corp., MCIC, Financial Analysis Software, Financial Report, American Information Technologies Corp., Pacific Telesis Group, PAC, AIT, Profit Analysis

---

Similar abstracts:

• Abstracts: Ipsco predicts recovery, but gives profit warning. Ipsco profit plummets 51% in quarter. Ipsco slashes dividend, citing need to save cash
• Abstracts: A 'Baby Bell' outgrows its siblings. 3 Bell units post gains in profits
• Abstracts: MCI deal called antitrust test. United Telecom to buy all of US Sprint. MCI to acquire Telecom USA
• Abstracts: Unsure what program to buy? Sample some shareware. What is Windows 3.0 really like?
• Abstracts: NCR and A.T.&T.: would the combination work? Skepticism over the merger abounds, but some see its logic

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