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LINCOLN TELECOMMUNICATIONS ANNOUNCES RESULTS

 LINCOLN TELECOMMUNICATIONS ANNOUNCES RESULTS
 LINCOLN, Neb., Feb. 7 /PRNewswire/ -- Lincoln Telecommunications


Co. (LinTelcom) (NASDAQ: LTEC) today announced 1991 fourth quarter and year end financial results. Chairman and Chief Executive Officer James E. Geist said earnings available for common shares for 1991 were $27.4 million or $1.66 per share compared to $24.2 million or $1.47 per share in 1990.
 LinTelcom total revenues and sales increased to $176.3 million in 1991 from $172.1 million in 1990. Revenues and sales of the principal subsidiary, The Lincoln Telephone and Telegraph Co., increased to $149.1 million in 1991 from
$146.2 million in 1990. Revenues and sales from diversified operations increased to $27.2 million in 1991 from $25.9 million in 1990.
 Geist said that 1991 earnings increases were due to both reductions in expenses and improved revenues. Tax expense for the 12 months ended Dec. 31, 1991 was reduced by $1.4 million compared to 1990, primarily reflecting state and local tax changes enacted by the Nebraska Legislature during 1991. Revenue increases were attributed to growth in telephone and cellular access lines in telephone operations and increased product sales in diversified operations.
 LinTelcom fourth quarter 1991 earnings available for common shares were $7.3 million or 45 cents per share compared to $5.8 million or 35 cents per share in 1990. Total LinTelcom fourth quarter 1991 revenues and sales increased to $45.9 million from $43.0 million in 1990.
 Geist reported that the company has been monitoring the results of the Nebraska Public Service Commission's Extended Area Service order, which increased rates for local service and reduced rates for long distance service and calls within a 25-mile radius of each exchange. The plan went into effect in mid-August 1991 and is being reviewed by the commission for a one-year test period to ensure that it is revenue neutral.
 "It appears that the plan is going to meet the objective of being revenue neutral," said Geist. "For the four months that the plan has been in effect, our revenues for local service are up, but our revenues for all other affected services are down by a comparable amount. Our actual combined revenue for services covered under the plan is within 1 percent of projections," Geist added.
 Geist also said that the corporation spent $33.8 million for network improvements in 1991. At the end of 1991, over 90 percent of the customer access lines were served by digital switching equipment and over 1,000 miles of fiber optic cable were in service. Geist added that the company will continue to invest in its network in 1992 with $34 million budgeted. Projects scheduled in 1992 include the installation of 16 digital switching systems in rural communities and a new digital switching system that will serve south Lincoln. Other projects include the installation of approximately 200 additional miles of fiber optic cable.
 LINCOLN TELECOMMUNICATIONS CO.
 CONSOLIDATED STATEMENT OF EARNINGS HIGHLIGHTS


(Dollars in Thousands Except Per Share Data and Shares Outstanding)
 Three Months Ended
 Dec. 31, Pct.
 1991 1990 Change
 Revenues and sales:
 Telephone Operations 38,863 36,240 7.2
 Diversified Operations 6,993 6,733 3.9
 Total revenues and sales 45,856 42,973 6.7
 Consolidated net earnings 7,440 5,931 25.4
 Consolidated earnings
 available for common shares 7,327 5,809 26.1
 Earnings per weighted
 average common share .446 .352 26.7
 Dividends declared per
 common share .200 .185 8.1
 Weighted average common
 shares outstanding 16,422,188 16,482,210 (.4)
 Twelve Months Ended
 Dec. 31, Pct.
 1991 1990 Change
 Revenues and sales:
 Telephone Operations 149,058 146,162 2.0
 Diversified Operations 27,199 25,888 5.1
 Total revenues and sales 176,257 172,050 2.4
 Consolidated net earnings 27,820 24,696 12.6
 Consolidated earnings
 available for common shares 27,351 24,190 13.1
 Earnings per weighted
 average common share 1.664 1.467 13.4
 Dividends declared per
 common share .800 .740 8.1
 Weighted average common
 shares outstanding 16,439,617 16,488,177 (.3)
 -0- 2/7/92
 /CONTACT: Elaine Carpenter of Lincoln Telecommunications, 402-476-4282/
 (LTEC) CO: Lincoln Telecommunications Co. ST: Nebraska IN: TLS SU: ERN


MC -- DV002 -- 7907 02/07/92 16:07 EST
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Publication:PR Newswire
Date:Feb 7, 1992
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