Printer Friendly

ANALYSTS APPLAUD MCI COMMUNICATIONS GROWTH; CEO TIM PRICE CREDITED WITH INDUSTRY-LEADING PERFORMANCE

 ATLANTA, Aug. 4 /PRNewswire/ -- MCI Communications (NASDAQ: MCIC) grew at a rate nearly twice that of its industry for the period ending June 30, posting what analysts are calling a "fabulous quarter" for the $10 billion telecommunications company.
 Earnings were up 21 percent over 1992 second-quarter totals, with the company's year-old Business Services division revenues accounting for 53 percent of MCI's overall growth in the first six months of 1993. MCI's first-half growth includes a 3-point gain in the 1-800 telephone service market share.
 Sanford Bernstein analyst Blake Bath commented:
 "MCI had a fabulous quarter. Revenues and volumes both grew 12-15 percent vs. the prior year, and good cost management led to 21 percent earnings growth. More importantly, the company's earnings outlook has been enhanced by two key developments. First, MCI is experiencing extremely strong results in the mid-size business market. Call this the Tim Price factor. Price, the former top marketing executive in MCI's Consumer Markets organization, is now the president of MCI Business Services and is doing for the mid-size business market what he did in the consumer market...he is taking an organization that had been languishing, and turning it into the fastest-growing part of the company."
 Sanford Bernstein projects MCI's revenue growth rate will accelerate to 14-15 percent for the second half of 1993 as the Business Services division gains customers in the wake of its successful 800 Portability services launch in May and a sweeping new customer-service cost assurance program called "Proof Positive," now being introduced.
 At Business Services' first-year anniversary, CEO Price has reason to celebrate. Drawing from experience gained in his creation of the highly successful MCI Friends and Family program, he's masterminded some equally ambitious campaigns for MCI Business Services.
 -- Aggressively promoted "800 Portability" which provided freedom to business customers to keep their 800 number while "shopping around" for the best 800 service. As a result, thousands of business customers switched their 800 service to MCI.
 -- Introduced Proof Positive which is the only price and service assurance of its kind in the long distance industry. What makes the concept unique is that MCI is putting the proof in writing every 90 days for all of its business customers.
 -- Created 1,000 new jobs at MCI Business Services centers that are opening in Tampa, Fla., and Atlanta.
 -- Positioned MCI Business Services as the premium long distance company that is listening to its business customers and responding with customer-driven programs such as Proof Positive.
 -0- 8/4/93
 /CONTACT: Jim Hackler, 404-877-1812, Alison Ilg, 404-877-1813, or Mark Petit, 404-877-1808, all of Ketchum Public Relations for MCI/
 (MCIC)


CO: MCI Communications Corporation ST: Georgia IN: TLS SU:

BN-BR -- AT011 -- 9488 08/04/93 15:38 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 4, 1993
Words:451
Previous Article:/NYSE CLOSING, FRIDAY, AUGUST 6 /PRN/
Next Article:/C O R R E C T I O N -- ANALYSTS APPLAUD MCI/
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters