D&E Communications, Inc. Releases 1999 Earnings.Business Editors/Hi-Tech Writers EPHRATA, Pa.--(BUSINESS WIRE)--March 2, 2000 D&E Communications, Inc. ("D&E") today released its earnings for the year ended December 31, 1999. D&E reported net income of $8,851,000, an increase of $21,106,000 over 1998. Earnings per common share for 1999 were $1.20, an increase of $2.85 over 1998. The primary reasons for the increase in earnings were one-time gains of $6,001,000, net of income taxes, from the sale of D&E SuperNet, Inc. to OneMain.com, Inc. and an $11,154,000 gain, net of income taxes, from the sale, by D&E's affiliate, of its investment in Monor Telephone Company (MTT MTT 3-(4,5-Dimethylthiazol-2-Yl)-2,5-Diphenyltetrazolium Bromide MTT Machine Tool Technology MTT Microwave Theory and Techniques MTT Mobile Task Team MTT Multi-Table Tournament (poker) ) in Hungary. The 1998 earnings were affected by D&E's decision to return a C-Block PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. license to the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. (FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. ) in exchange for an early extinguishment of debt, and as a result, it recorded an extraordinary loss of $7,901,000, net of income taxes. D&E's 1999 results included its share of losses of $6,727,000, net of income taxes, from international affiliates before the sale of MTT. D&E's share of the loss of its 50% interest in PCS ONE was $6,760,000, net of income taxes. PCS ONE offers Personal Communications Services See PCS. (PCS) and related equipment for digital wireless services in south central Pennsylvania South Central Pennsylvania is a region of the U.S. state of Pennsylvania that includes the fourteen counties of Adams, Cumberland, Dauphin, Franklin, Huntingdon, Juniata, Lancaster, Lebanon, Mifflin, Northumberland, Perry, Schuylkill, Snyder, and York. . D&E's total 1999 operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. was $63,527,000, which grew by 19.2% or $10,216,000 over 1998 results. Total operating expenses for 1999 were $54,400,000, an increase of $9,026,000 or 19.9% over the prior year. The increase in operating revenue was made up of $3,183,000 from telephone services, $3,349,000 from support services provided to various affiliated joint ventures, and $3,684,000 from communications products sold. The primary increases in operating expenses came from the direct costs of increased revenues, and marketing and customer services expenses to position D&E to operate in a more competitive environment. D&E Communications, Inc. is a full-service telecommunications company based in Lancaster County, PA. Through its subsidiaries and affiliated companies, D&E Communications offers both local and long distance service, wireless PCS service, paging, voice, data and video communications equipment, and computer networking services. |
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