Southwestern's Bell Atlantic's net fell in 2nd period; U S West's profit flat

Article Abstract:

Three telephone companies - Southwestern Bell Corp, Bell Atlantic Corp and U S West - report flat or lower earnings in 2nd qtr 1991. Southwestern Bell's net income was down 34 percent, at $172.6 million, or 57 cents a share, from $262.5 million, or 87 cents a share, in the same period in 1990. The company included a one-time charge of $80.7 million, or 27 cents a share, for refinancing of debt. Bell Atlantic reports that net income was down 2.1 percent, to $355.1 million, or 91 cents a share, from $362.8 million, or 92 cents a share. Revenue was flat, at $3.08 billion. U S West reported net income of 276.6 million, or 70 cents a share, which compares with $276.4 million, or 72 cents a share last year. Southwestern Bell reports that the number of customer telephone lines in service, in the 2nd qtr, was 12.2 million, up 2.5 percent. Bell Atlantic's customer lines are were up 1.7 percent, to 17.6 million. And U S West's customer lines were up 3.1 percent, to 12.7 million.

Telephone companies, SBC, Regional Bell Operating Companies, U S West Communications Inc., Southwestern Bell Corp., Telephone Company, Second Quarter

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Bell Atlantic, U S West post rises in quarterly profit

Article Abstract:

Bell Atlantic Corp and U S West Inc, two regional Bell telephone companies, announced rises in net income for the 3rd qtr, FY 1992, because of lowered costs and more favorable interest rates. Bell Atlantic reported earnings of $386.6 million, the equivalent of 90 cents per share, whereas it reported earnings of $331.5 million, the equivalent of 78 cents per share, in 3rd qtr, FY 1991. The company reported flat revenue of $3.2 billion. Bell Atlantic cut personnel by 4,300 during 1992, which the company says is a major reason for its good results. U S West reported earnings at $283.4 million, a 5 percent increase from the $269.3 million it reported for 3rd qtr, FY 1991. The company's revenue was reported at $2.56 billion, a 2.1 percent decrease from the $2.62 billion reported for 3rd qtr, FY 1991, because the company is phasing out its real estate interests.

Radiotelephone communications, U S WEST Inc., USW, Revenue, Increase, Third Quarter, Stock, Financial Report

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