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SPRINT DETAILS THIRD QUARTER CHARGES TO EARNINGS

 KANSAS CITY, Mo., Oct. 11 /PRNewswire/ -- Sprint (NYSE: FON) today announced it expects to incur after-tax charges of approximately $56 million, or 16 cents per share, against third quarter earnings. The non-recurring charges consist of costs associated with realignments and restructurings within Sprint's long distance and local telecommunications operations, the impact of recently enacted tax law changes and the early retirement of debt.
 During the third quarter, Sprint announced a realignment and restructuring of its long distance division, including the elimination of approximately 1,000 positions, or 5 percent of the division's work force and the closure of two facilities. The restructuring was designed to improve market focus, lower costs and streamline operations within the division. Sprint's local telecommunications division also continued the integration and restructuring of its operations in response to the merger with Centel and increasing competition in the local exchange business. These actions resulted in non-recurring charges of $45 million, which will reduce Sprint's after-tax earnings by $28 million, or 8 cents per share.
 The Revenue Reconciliation Act of 1993 was enacted by Congress in August and raised the federal income tax rate for corporations. Sprint has adjusted its tax obligations, resulting in a non-recurring charge of $13 million, or 4 cents per share.
 The refinancing of debt in the quarter, as the company continues to take advantage of favorable interest rates, resulted in an extraordinary charge of $15 million, or 4 cents per share.
 Sprint is a diversified international telecommunications company with more than $10 billion in annual revenues and the United States' only nationwide all-digital, fiber-optic network. Its divisions provide global long distance voice, data and video products and services, local telephone services to nearly 6 million subscriber lines in 19 states, and cellular operations that serve 42 metropolitan markets and more than 50 rural service areas.
 -0- 10/11/93
 /CONTACT: Bill White, 913-624-2226, or home, 913-681-9099, or Steve Dykes, 202-828-7435, or home, 703-242-1769, both of Sprint/
 (FON)


CO: Sprint ST: Missouri IN: TLS SU: ERN

MH -- DC002 -- 0554 10/11/93 08:56 EDT
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Publication:PR Newswire
Date:Oct 11, 1993
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