Cable and Wireless profit up 59% in year

Article Abstract:

Cable and Wireless reports pretax profits of 1.34 billion pounds sterling for the fiscal year ending Mar 31, 1996, an increase of 59% from the 844 million pounds sterling recorded the year earlier. Sales for Cable and Wireless increased 7% for the year to 5.52 billion pounds sterling, and company officials predict continued growth for the telecommunications giant. Cable and Wireless has been able to sustain its steady growth despite the upheaval surrounding the replacement of its CEO and executive chairman in Nov 1995. Further, the company has broken off and resumed merger talks with British Telecommunications (BT) on numerous occasions, ending each time without an agreement. The combined company would possess a market capitalization of $50 billion. Company officials suggest that if these talks with BT fail to produce results, they will not pursue others.

Cable & Wireless PLC, Company Earnings Profit, Company Sales Revenue

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Mexican phone giant reaches out, and north

Article Abstract:

Telefonos de Mexico (Telmex) has applied to the FCC for authorization to extend its long-distance service into the southwestern US. The Jan 1, 1997, deregulation of long-distance service in Mexico has brought competition from companies formed by AT&T and MCI with Mexican partners as well as from smaller providers. Although Telmex has been negotiating with the FCC for two years, it must wait for the FCC to determine if Mexico has been fair to US companies and if the Telmex application includes any antitrust violations. The application is likely to be accepted. Telmex expects that its lower rates will attract customers, but new FCC regulations forcing US companies to decrease their international rates may change the market. To expand its service into the US, Telmex will use the network maintained by Sprint, its joint-venture partner.

Services, Long distance telephone services, Telefonos de Mexico S.A. de C.V., TFONY, Distribution, Company services, Long-distance telephone service

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Earnings from operations grow for two Baby Bells

Article Abstract:

Two regional Bell operating companies, Ameritech and US West, recorded gains in operations for their 4th qtrs ending Dec 31, 1994. Ameritech's profit figures rose 12%, but the company was forced to take a $2.2 billion after-tax charge for accounting purposes that caused it to post a loss of $1.8 billion for the qtr. Without the after-tax charge, the company would have earned $445.2 million for the 4th qtr, up from the $398.2 million earned for the same period a year earlier. Ameritech's revenues climbed 4% for the qtr, to $3.18 billion. Sibling Bell US West posted 4th qtr gains of $409 million, due in large part to asset sales. Without these sales, the company would have posted quarterly earnings of $284 million. Revenues for US West were also on the upswing, rising nearly 7% for the 4th qtr, to $2.84 billion.

U S WEST Inc., USW, Regional Bell Operating Companies, Revenue, Profit Margin, Financial Report, Bell Regional Holding Companies, Ameritech Corp.

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