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BELL ATLANTIC REPORTS 1992 EARNINGS PER SHARE OF $3.13

 PHILADELPHIA, Jan. 21 /PRNewswire/ -- Bell Atlantic Corporation (NYSE: BEL) today reported 1992 earnings of $3.13 per share, an increase of 7.6 percent over 1991.
 Earnings for the year were $1.34 billion, a 9 percent increase compared with 1991. These comparisons are before the impact of a charge in 1991 of $1.55 billion, or $3.63 per share, for the adoption of a change in the method of accounting for post-retirement benefits other than pensions (Statement of Financial Accounting Standards No. 106) and after restatement for the Metro Mobile merger.
 For the fourth quarter of 1992, earnings were $.74 per share, or $317.3 million, which included an extraordinary charge of $.02 per share, or $10.2 million, for the early retirement of debt. For the same period last year, earnings were $.59 per share, or $246.8 million.
 "We continue to be encouraged by growth in our basic telephone business volumes, strong demand for our new products and services, and growth well above our expectations in all our wireless business markets," said Bell Atlantic Chairman and Chief Executive Officer Raymond W. Smith. "In addition, we initiated a number of actions to lower expenses that will favorably impact Bell Atlantic's operating results going forward, including a substantial work force reduction. We also signaled our intent to enter new markets through our announcements of agreements with Sammons Communications, Inc., and FutureVision of America Corporation to provide broadband video transport and to explore multi-media business development opportunities. These initiatives demonstrate our participation in emerging markets to position Bell Atlantic for increased growth and competitiveness."
 In the company's network services companies, access lines at the end of the year totalled nearly 18.2 million. This represents an increase of approximately 431,000 lines, or 2.4 percent, over 1991. Business access lines increased 3.3 percent, and Centrex access lines increased 4.7 percent. Total minutes of use for the year increased 4.3 percent over 1991, and message toll service volumes increased 2.9 percent.
 Bell Atlantic's total operating revenues for the year were $12.6 billion, compared with $12.5 billion for 1991. Revenues in communications and related services increased by 2.5 percent. Revenues in the financial and real estate businesses were lower due to continued downsizing in computer leasing and real estate.
 Total operating expenses were $10.1 billion for 1992, compared with $10.0 billion for 1991. Employee expenses were lower, primarily as a result of 1991
force reductions. Depreciation costs increased, due principally to higher authorized depreciation rates in the telephone companies.
 "Our wireless business ended 1992 with its most successful quarter ever," said Lawrence T. Babbio Jr., chairman and chief executive officer of Bell Atlantic Enterprises International, Inc. "We anticipate very strong growth again in 1993 as we continue to expand coverage and customer offerings, such as our recent initiatives in wireless packet data and our trials of new technologies and services."
 Bell Atlantic had approximately 698,400 cellular subscribers at the end of 1992, compared with 508,100 subscribers at the end of 1991. The subscriber base increased 81,100, or 13 percent, in the fourth quarter of 1992 over the base at the end of the third quarter of 1992.
 Bell Atlantic Corporation, based in Philadelphia, is the parent company of New Jersey Bell, Bell of Pennsylvania, Diamond State Telephone (Delaware), and the Chesapeake and Potomac Telephone Companies of Maryland, Virginia, West Virginia, and Washington, D.C.
 Bell Atlantic also is the parent of one of the nation's largest cellular carriers and of companies that provide business systems services for customer-based information technology, including software, systems integration, hardware and software service and support, and financial services, throughout the United States and internationally. In addition, Bell Atlantic International offers network services and consulting to telephone authorities throughout the world and, in conjunction with Ameritech, owns a majority interest in Telecom Corporation of New Zealand.
 BELL ATLANTIC CORPORATION AND SUBSIDIARIES
 Condensed Consolidated Statements of Income
 (Unaudited; in millions, except per-share amounts)
 Periods ended Three months Year
 Dec. 31 1992 1991(A) 1992 1991(A)
 Operating Revenues:
 Communications and
 Related Services $3,097.9 $2,979.3 $12,093.2 $11,796.4
 Financial, Real Estate,
 and Other Services 156.3 181.8 553.8 701.9
 Total operating revenues 3,254.2 3,161.1 12,647.0 12,498.3
 Operating Expenses:
 Employee costs, including
 benefits and taxes 1,004.3 985.5 3,941.5 3,992.6
 Depreciation and amortization 597.2 615.0 2,417.4 2,338.8
 Other 1,134.6 1,022.6 3,781.9 3,641.6
 Total operating expenses 2,736.1 2,623.1 10,140.8 9,973.0
 Operating Income 518.1 538.0 2,506.2 2,525.3
 Other income & expense, net 42.3 47.0 214.4 176.2
 Interest expense, excluding
 Financial Services 162.3 202.5 694.9 806.8
 Income before provision for income
 taxes, extraordinary item, and
 cumulative effect of change in
 accounting principle 398.1 382.5 2,025.7 1,894.7
 Provision for income taxes 70.6 135.7 643.5 664.8
 Income before extraordinary item
 and cumulative effect of change
 in accounting principle 327.5 246.8 1,382.2 1,229.9
 Extraordinary item -- early
 extinguishment of debt,
 net of tax (10.2) --- (41.6) ---
 Cumulative effect of change
 in accounting principle --
 transition effect of change
 in accounting for post-retirement
 benefits other than
 pensions, net of tax --- --- --- (1,554.3)
 Net Income (Loss) $317.3 $246.8 $1,340.6 $(324.4)
 Per Common Share Amounts:
 Income before extraordinary item
 and cumulative effect of change
 in accounting principle $.76 $.59 $3.23 $2.91
 Extraordinary item -- early
 extinguishment of debt,
 net of tax (.02) --- (.10) ---
 Cumulative effect of change in
 accounting principle --
 transition effect of change in
 accounting for post-retirement
 benefits other than pensions,
 net of tax --- --- --- (3.63)
 Net Income (Loss) $.74 $.59 $3.13 $(.72)
 Dividends declared
 per common share $.65 $.63 $2.60 $2.52
 Weighted average number of
 common and equivalent
 shares outstanding 434.5 430.5 433.0 429.1
 Other Selected Data
 Dec. 31 1992 1991(A)
 Return on Average Common Equity:
 Three months ended (percent) 16.1 13.3
 Year ended (percent) 17.4 (4.4)
 Total Assets (millions) $28,099.5 $28,305.8
 Total Employees 71,400 76,900
 (A) Restated for the merger with Metro Mobile CTS, Inc., in April 1992, which was accounted for as a pooling of interests.
 BELL ATLANTIC CELLULAR OPERATIONS
 Selected Operating Statistics (Unaudited)
 (In thousands, except percentages and revenue per subscriber)
 Dec. 31 1992 1991 Percent Change
 Total Owned POPs 34,200.0 33,600.0 1.8
 Controlled MSA POPs 27,400.0 26,800.0 2.2
 Controlled RSA POPs 3,700.0 2,600.0 42.3
 Subscribers in
 Controlled Markets 651.3 473.2 37.6
 Controlled MSA
 Penetration(B) (pct.) 2.38 1.77 34.5
 Total Subscribers(C) 698.4 508.1 37.5
 Fourth-Quarter
 Cellular Operations
 Revenue(D)(E) $163,500 $128,082 27.7
 Fourth-Quarter Cellular
 Operations Revenue
 per Subscriber
 per Month(D)(E) $83 $87 (4.6)
 Uncollectibles for the year ended Dec. 31, 1992, were less than 2 percent of total revenue (as defined in footnote D), and average monthly churn for the quarter was less than 2 percent of the total customer base (as defined in footnote C).
 (B) Subscribers in controlled markets (MSA and RSA) as a percent of population in controlled MSAs.
 (C) Includes customers from reseller operation.
 (D) Cellular operations revenue includes access and usage, equipment, and gross roamer revenue into and out of Bell Atlantic's markets. Bell Atlantic Corporation does not record "out-roaming" charges for Bell Atlantic customers roaming on foreign systems as revenue in its consolidated financial statements.
 (E) Total cellular operations revenue for the fourth quarter of 1991 includes long-distance revenue of the former Metro Mobile CTS, Inc., operations. Before the merger, Metro Mobile was permitted to resell interLATA long-distance service with a mark-up. When adjusted for the exclusion of these long-distance service revenues, the increase in cellular operations revenue for the fourth quarter of 1992 over the fourth quarter of 1991 was 28.9 percent.
 /delval/
 -0- 1/21/93
 /CONTACT: Cynthia M. Ciangio of Bell Atlantic, 215-963-6306/
 (BEL)


CO: Bell Atlantic Corporation ST: Pennsylvania IN: TLS SU: ERN

MP -- PH002 -- 7229 01/21/93 08:37 EST
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