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BELL ATLANTIC REPORTS THIRD-QUARTER 1993 EARNINGS

 PHILADELPHIA, Oct. 19 /PRNewswire/ -- Bell Atlantic Corporation (NYSE: BEL) today announced a 9.8 percent increase in 1993 third-quarter earnings per share versus the third quarter of 1992, after excluding certain items in both periods.
 Reported earnings were $.87 per share, after an extraordinary charge of $.02 per share for early extinguishment of debt and a net decrease of $.01 per share for the effect of recently enacted federal tax legislation. This compares with $.90 per share in the third quarter of 1992, which included $.08 per share for a previously reported one-time net gain.
 Net income for the third quarter of 1993 increased 10.1 percent compared with the third quarter of 1992, excluding the items described above. Reported net income for the third quarter of 1993 was $378.5 million, after the extraordinary charge of $8.2 million and a net decrease of $3.4 million for the federal tax legislation. This compares with $386.6 million for the third quarter of 1992, which included the previously reported one-time gain.
 Wireless operations reported a total of approximately 893,000 subscribers at the end of the third quarter, an increase of 276,000, or nearly 45 percent, over September 30, 1992. In the network services companies, access lines at the end of the quarter totalled 18.5 million, an increase of 427,000 lines, or 2.4 percent, over September 30, 1992. Business access lines increased 3.8 percent and Centrex access lines increased 4 percent over totals at September 30, 1992. Total minutes of use increased 7.6 percent and message toll service volumes increased 3.3 percent over the third quarter of 1992.
 Bell Atlantic's total operating revenues for the quarter were $3.3 billion, an increase of 3.2 percent compared with $3.2 billion for the third quarter of 1992. Revenues in communications and related services increased by 4 percent. Revenues in financial and real estate services were lower due to continued downsizing, primarily in computer leasing.
 Total operating expenses were $2.6 billion for the third quarter of 1993, compared with $2.5 billion for the third quarter of 1992. Excluding an increase of $44 million in depreciation, quarter over quarter operating expenses were essentially flat.
 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., companies which provide a full array of local exchange telecommunications services in the mid-Atlantic region.
 Bell Atlantic also is the parent of one of the nation's largest cellular carriers and of companies that provide 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 owns an interest in Telecom Corporation of New Zealand.
 BELL ATLANTIC CORPORATION AND SUBSIDIARIES
 Condensed Consolidated Statements of Income (unaudited)
 (In millions, except per-share amounts)
 Three months ended Nine months ended
 September 30 September 30
 1993(A) 1992(B) 1993(A) 1992(B)
 Operating Revenues
 Communications and
 Related Services $3,181.1 $3,058.9 $9,340.3 $9,046.7
 Financial, Real Estate,
 and Other Services 108.5 128.1 332.7 397.5
 Total operating
 revenues 3,289.6 3,187.0 9,673.0 9,444.2
 Operating Expenses
 Employee costs,
 including benefits
 and taxes 1,036.6 1,009.0 3,008.6 2,937.2
 Depreciation and
 amortization 657.1 613.3 1,895.3 1,820.2
 Other 875.2 896.5 2,578.7 2,698.7
 Total operating
 expenses 2,568.9 2,518.8 7,482.6 7,456.1
 Operating Income 720.7 668.2 2,190.4 1,988.1
 Other income and
 expense, net 25.2 103.8 59.0 172.1
 Interest expense, excluding
 Financial Services 151.4 169.8 470.8 532.6
 Income before provision
 for income taxes,
 extraordinary item, and
 cumulative effect of
 change in accounting
 principle 594.5 602.2 1,778.6 1,627.6
 Provision for
 income taxes 207.8 209.3 634.2 572.9
 Income before extraordinary
 item and cumulative
 effect of change in
 accounting principle 386.7 392.9 1,144.4 1,054.7
 Extraordinary item --
 early extinguishment
 of debt, net of tax (8.2) (6.3) (54.3) (31.4)
 Cumulative effect of
 change in accounting for
 income taxes -- -- 65.2 --
 Net Income $ 378.5 $ 386.6 $1,155.3 $1,023.3
 Per Common Share Amounts:
 Income before
 extraordinary item and
 cumulative effect of change in
 accounting principle $.89 $.91 $2.62 $2.46
 Extraordinary item --
 early extinguishment
 of debt, net of tax (.02) (.01) (.12) (.07)
 Cumulative effect of
 change in accounting
 for income taxes -- -- .15 --
 Net Income $.87 $.90 $2.65 $2.39
 Dividends declared per
 common share
 (A) Effective January 1, 1993, the company adopted Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes," which requires the determination of deferred taxes using the liability method.
 (B) Certain operating revenue and operating expense amounts for the three and nine months ended September 30, 1992, have been reclassified to conform to 1993 classifications. These reclassifications had no effect on net income.
 /delval/
 -0- 10/19/93
 /CONTACT: Cynthia M. Ciangio of Bell Atlantic, 215-963-6306/
 (BEL)


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

LJ -- PH004 -- 3706 10/19/93 07:44 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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