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SPRINT REPORTS RECORD THIRD QUARTER

 SPRINT REPORTS RECORD THIRD QUARTER
 KANSAS CITY, Mo., Oct. 13 /PRNewswire/ -- Sprint (NYSE: FON)


today reported an excellent third quarter with record long-distance revenues, volume and operating income.
 Consolidated net income for the 1992 third quarter totaled $115 million on revenues of $2.33 billion, with earnings per share of 52 cents, excluding a charge of $6 million or 3 cents per share related to the early retirement of higher-coupon debt. Net income for the third quarter of 1991 was $97 million on revenues of $2.21 billion, with earnings per share of 44 cents.
 "This quarter's earnings per share of 52 cents represents a record level for Sprint," reported Sprint Chairman and Chief
Executive Officer, William T. Esrey. The quarterly 52 cents per share is an all-time high when excluding the positive impacts of changes in accounting principles and gains from sales of business units.
 For the first nine months of 1992, consolidated net income was $309 million, or $1.40 per share, excluding the positive impact of a change in accounting for income taxes and the charge described above. For the first nine months of 1991, net income was $269 million, or $1.23 per share.
 Sprint's long-distance operating income was $94 million for the third quarter of 1992, primarily because of increased revenues. The 1992 second quarter operating income of $45 million reflected investments in new products. Operating income for the third quarter of 1991 was $90 million.
 Long-distance revenues for the third quarter of 1992 totaled $1.43 billion, up 3.9 percent from $1.38 billion in the second quarter of 1992, and up 6.2 percent from $1.35 billion in revenues in the third quarter of 1991.
 The 1992 third quarter long-distance minutes of use grew 3.2 percent compared with the second quarter of 1992 and 6.9 percent from the same quarter of 1991.
 "The excellent performance of our long-distance division is the result of marketing and product strengths, and operational improvements developed over the last several quarters," said Esrey.
 "Today we have strong products in place that are targeted to key markets, including The Most(sm) for residential customers and the Sprint Clarity(sm)/Business Clout(sm) combination for small businesses. There also are important improvements with existing products; for example, FONCARD(sm) is significantly easier to use. Our marketing efforts continue to be supported by a first-rate advertising program," said Esrey.
 "Our customer retention has improved, largely because of the priority treatment and quality customer service we deliver to our customers across all markets. We believe that our customer billing has become a competitive advantage," Esrey noted.
 Sprint's local operations reported third quarter revenues of $741 million, compared with $709 million for the same period a year ago. Operating income for the local telephone companies was $163 million, up from $159 million in the same period a year ago. For the first nine months of 1992, operating income increased 5.6 percent to $519 million compared to the same period of 1991.
 "Sprint's local operations continue to show strong performance, despite the weak economy," said Esrey. "Through the third quarter of 1992, Sprint's local telephone access lines grew at an annual rate of 3.7 percent."
 The complementary businesses had operating income for the third quarter of $18 million on revenues of $220 million, compared with $16 million on revenues of $218 million for the third quarter of 1991.
 Sprint is a diversified international telecommunications company with $9 billion in annual revenues and the United States' only nationwide all-digital, fiber-optic network. Its divisions provide global long-distance voice, data and video products and services, and local telephone services to more than 4 million subscriber lines in 17 states.
 SPRINT CORPORATION
 Consolidated Statements of Income
 (Unaudited)
 Three Months Ended
 Sept. 30,
 1992 1991
 (In Millions Except
 Per Share Data)
 Net operating revenues
 Long distance communications services $1,432.4 $1,348.3
 Local communications services 741.3 709.3
 Complementary businesses 219.9 218.1
 Intercompany revenues (63.2) (62.2)
 Total net operating revenues 2,330.4 2,213.5
 Operating expenses
 Long distance communications services 1,338.8 1,258.2
 Local communications services 577.9 550.3
 Complementary businesses 202.3 202.0
 Intercompany expenses (63.2) (62.2)
 Total operating expenses 2,055.8 1,948.3
 Operating income 274.6 265.2
 Other (income) expense, net 1.1 (0.6)
 Interest charges, net of capitalization 95.1 101.7
 Minority interest 0.0 15.3
 Income before income taxes, extraordinary
 item and cumulative effect of change
 in accounting principle 178.4 148.8
 Income tax provision 63.2 52.0
 Income before extraordinary item and
 cumulative effect of change in
 accounting principle 115.2 96.8
 Extraordinary loss on early extinguishment
 of debt, net of related income tax
 benefit of $3.3 5.6 0.0
 Income before cumulative effect of change
 in accounting principle 109.6 96.8
 Cumulative effect of change in
 accounting for income taxes 0.0 0.0
 Net income 109.6 96.8
 Preferred stock dividends 0.6 0.6
 Earnings applicable to common stock $109.0 $ 96.2
 Earnings per common share
 Before extraordinary item and
 cumulative effect of change
 in accounting principle $ 0.52 $ 0.44
 Extraordinary item (0.03) 0.00
 Cumulative effect of change in
 accounting principle 0.00 0.00
 Total $ 0.49 $ 0.44
 Weighted average number of common shares 220.5 217.7
 SPRINT CORPORATION
 Consolidated Statements of Income
 (Unaudited)
 Nine Months Ended
 Sept. 30,
 1992 1991
 (In Millions Except
 Per Share Data)
 Net operating revenues
 Long distance communications services $4,168.0 $4,044.9
 Local communications services 2,198.8 2,092.7
 Complementary businesses 640.5 630.2
 Intercompany revenues (189.6) (185.4)
 Total net operating revenues 6,817.7 6,582.4
 Operating expenses
 Long distance communications services 3,962.9 3,830.3
 Local communications services 1,679.7 1,601.3
 Complementary businesses 590.9 584.9
 Intercompany expenses (189.6) (185.4)
 Total operating expenses 6,043.9 5,831.1
 Operating income 773.8 751.3
 Other (income) expense, net 2.5 (0.4)
 Interest charges, net of capitalization 292.9 310.8
 Minority interest 0.0 32.6
 Income before income taxes, extraordinary
 item and cumulative effect of change
 in accounting principle 478.4 408.3
 Income tax provision 169.3 138.9
 Income before extraordinary item and
 cumulative effect of change in
 accounting principle 309.1 269.4
 Extraordinary loss on early extinguishment
 of debt, net of related income tax
 benefit of $3.3 5.6 0.0
 Income before cumulative effect of change
 in accounting principle 303.5 269.4
 Cumulative effect of change in
 accounting for income taxes 36.4 0.0
 Net income 339.9 269.4
 Preferred stock dividends 1.8 1.9
 Earnings applicable to common stock $ 338.1 $ 267.5
 Earnings per common share
 Before extraordinary item and
 cumulative effect of change
 in accounting principle $ 1.40 $ 1.23
 Extraordinary item (0.03) 0.00
 Cumulative effect of change in
 accounting principle 0.17 0.00
 Total $ 1.54 $ 1.23
 Weighted average number of common shares 219.6 216.9
 -0- 9/13/92
 /CONTACT: Judith Shannon, 913-624-3221 or, after hours, 816-931-7156; or Steve Dykes, 202-828-7435 or, after hours, 703-242-1769; both of Sprint/
 (FON) CO: Sprint ST: Missouri IN: TLS SU: ERN


DS -- DC002 -- 9114 10/13/92 08:14 EDT
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Date:Oct 13, 1992
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