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SPRINT REPORTS INCREASED FIRST QUARTER EARNINGS

 SPRINT REPORTS INCREASED FIRST QUARTER EARNINGS
 KANSAS CITY, Mo., April 15 /PRNewswire/ -- Sprint (NYSE: FON)


today announced 1992 first quarter net income of $136 million on revenues of $2.21 billion, as compared with net income of $84 million on revenues of $2.16 billion in the first quarter of 1991. Earnings per share for the first quarter were 62 cents per share, as compared with 38 cents per share in the first quarter of 1991. The current quarter includes 17 cents per share related to the adoption of Statement of Financial Accounting Standards No. 109 - "Accounting for Income Taxes." Excluding the cumulative effect of the accounting standard change, net income was $100 million, and earnings per share were 45 cents which was an increase per share of 18.4 percent over the first quarter of 1991.
 Sprint's long distance division reported first quarter operating income of $67 million on revenues of $1.36 billion, as compared with $52 million on revenues of $1.34 billion in the same quarter a year ago.
 "We're pleased to report the improvement in long distance revenues and a traffic increase of more than 5 percent over the fourth quarter of 1991," noted William T. Esrey, chairman and chief executive officer. "Our 1992 first quarter revenues improved over the fourth quarter, despite the decline in data systems sales which had been predicted."
 Sprint's local operations reported record first quarter operating income of $178 million, up from $167 million for the same quarter a year ago. Revenues were $714 million, compared to $688 million in 1991 first quarter. During the first quarter, access lines grew at an annual rate of 5 percent.
 "Our local operations continue to deliver fine results and to have robust access line growth," Esrey noted.
 The complementary businesses had operating income of $16 million on revenues of $202 million in the first quarter, up from $14 million on revenues of $196 million in the first quarter a year ago.
 Sprint is a diversified international telecommunications company with $8.8 billion in annual revenues and the United States' only nationwide all-digital, fiber-optic long distance network. Its divisions provide global long distance voice, data and video products and services, and local telephone services to more than 4 million subscriber lines in 17 states.
 SPRINT CORPORATION
 Consolidated Statements of Income
 (Unaudited)
 Three Months Ended
 March 31,
 1992 1991
 (In Millions Except
 Per Share Data)
 Net operating revenues
 Long distance communications services $1,357.3 $1,339.1
 Local communications services 714.2 687.5
 Complementary businesses 202.1 195.6
 Intercompany revenues (63.6) (60.5)
 Total net operating revenues 2,210.0 2,161.7
 Operating expenses
 Long distance communications services 1,290.5 1,287.5
 Local communications services 536.4 520.6
 Complementary businesses 186.4 181.8
 Intercompany expenses (63.6) (60.5)
 Total operating expenses 1,949.7 1,929.4
 Operating income 260.3 232.3
 Other expense, net 4.6 0.3
 Interest charges, net of capitalization 99.7 103.1
 Minority interest 0.0 5.6
 Income before income taxes and
 cumulative effect of change
 in accounting principle 156.0 123.3
 Income tax provision 56.1 39.7
 Income before cumulative effect of
 change in accounting principle 99.9 83.6
 Cumulative effect of change in
 accounting for income taxes 36.4 0.0
 Net income 136.3 83.6
 Preferred stock dividends 0.6 0.6
 Earnings applicable to common stock $ 135.7 $ 83.0
 Earnings per common share:
 Before cumulative effect of
 change in accounting principle $ 0.45 $ 0.38
 Cumulative effect of change in
 accounting for income taxes 0.17 0.00
 Total $ 0.62 $ 0.38
 Weighted average number of common shares 218.9 216.0
 -0- 4/15/92
 /CONTACT: Judith Shannon, 913-624-3221 or, after hours, 816-931-7156; or Steve Dykes, 202-828-7435 or, after hours, 703-242-1769/
 (FON) CO: Sprint ST: Missouri IN: TLS SU: ERN


DS -- DC003 -- 8485 04/15/92 08:10 EDT
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Date:Apr 15, 1992
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