Printer Friendly

MCI REPORTS STRONG ANNUAL GROWTH, INCREASED EARNINGS

 MCI REPORTS STRONG ANNUAL GROWTH, INCREASED EARNINGS
 WASHINGTON, Feb. /PRNewswire/ -- MCI Communications Corporation


(NASDAQ-NMS: MCIC) said today that it grew at close to double the industry rate during 1991, resulting in strong revenue gains and increased earnings for the fourth quarter and the full year.
 - Fourth quarter 1991 revenue was $2.162 billion, up 7.9 percent
 over fourth quarter 1990 revenue of $2.003 billion. Full year
 1991 revenue was $8.433 billion, up 9.8 percent over 1990
 revenue of $7.680 billion.
 - Fourth quarter 1991 earnings increased to $137 million, or 52
 cents per common share, versus $120 million, or 47 cents per
 common share in the year ago quarter.
 Full year earnings for 1991 were $522 million, or $2.01 per common share, compared with $270 million, or $1.06 per common share in 1990, including one-time charges of $550 million associated with network modernization.
 "MCI had a great fourth quarter and a great year, growing profitably despite the continuing recession," said Bert C. Roberts Jr., president and chief executive officer. "We expect industry results will show that MCI gained almost a full point of market share in 1991."
 MCI's Friends & Family, the flagship residential calling program, contributed to the company's success with more than five million customers enrolled in the program, including some two million customers who signed up in the fourth quarter alone, according to Roberts.
 Other services introduced by MCI include a new state-of-the-art long distance calling card that lets callers make conference calls, send recorded messages, speed-dial frequently called numbers and access news, weather, sports and stock information. Also introduced was MCI Perspective, a billing analysis tool that lets business customers review their call records by computer before receiving their bill. MCI Perspective received this year's New Product Achievement award at ComNet, the international communications show recently held in Washington, where attendees voted for those products they believe will make the most significant contribution to the communications industry in 1992.
 During 1991, MCI also announced a worldwide network service for U.S.-based transnational corporations called Global Communications Service, and completed the conversion of its nationwide network to fully digital transmission technology, a year ahead of schedule.
 The fourth quarter and full year 1991 figures reflect the results of Telecom USA, Inc., which MCI acquired on Aug. 14, 1990.
 -0- 2/4/92
 /CONTACT: MCI Communications Corporation, Corporate News Bureau, 800-289-0073 or 202-887-3000/
 (MCIC) CO: MCI Communications Corporation ST: District of Columbia IN: TLS SU: ERN


DS -- DC007 -- 6530 02/04/92 09:10 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 4, 1992
Words:423
Previous Article:ARCTIC ALASKA REPORTS RECORD NET INCOME, SALES FOR 1991
Next Article:OFFICE DEPOT ANNOUNCES INCREASE IN SALES, NET EARNINGS, AND EARNINGS PER SHARE FOR FOURTH QUARTER 1991
Topics:


Related Articles
MCI REPORTS RECORD ANNUAL REVENUE AND EARNINGS
MCI POSTS SHARP EARNINGS PER SHARE GAIN ON STRONG REVENUE AND VOLUME GROWTH
MCI REVENUE AND OPERATING INCOME DRIVE STRONG EARNINGS GROWTH
ANALYSTS APPLAUD MCI COMMUNICATIONS GROWTH; CEO TIM PRICE CREDITED WITH INDUSTRY-LEADING PERFORMANCE
MCI ACHIEVES DOUBLE-DIGIT GAINS IN REVENUE, TRAFFIC AND OPERATING INCOME
MCI CAPS BANNER YEAR WITH DOUBLE DIGIT FOURTH QUARTER GAINS
MCI LEADS INDUSTRY VOLUME AND REVENUE GAINS IN FIRST QUARTER
MCI REPORTS 26 PERCENT EARNINGS GROWTH IN THIRD QUARTER
MCI QUARTERLY REVENUE UP $455 MILLION, LARGEST INCREASE EVER; VOLUME GROWS 19 PERCENT
MCI FOURTH QUARTER EPS GROWS 17 PERCENT TO $0.41 1995 Revenue Tops $15 Billion

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