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Five regional telephone companies report mixed 3rd qtr results, ranging from a 12 percent increase in profits to a 20 percent decrease. BellSouth Corp earnings increased 12 percent despite paying one-time charges of 11 cents a share on an early-retirement incentive program and an accounting change in cellular phone operating; revenue was $3.63 billion. Southwestern Bell Corp added 70,000 customers in the quarter; revenue increased 2.4 percent from $2.37 to $2.42 billion the year previous; and earnings rose 12 percent. NYNEX Corp revenue fell 3.5 percent from $3.39 to $3.27 billion, and the company cited the selling of operations for the decline in operating revenue and expenses. Cincinnati Bell Inc suffered from rising costs and regulated prices. The company reported a 8.3 percent increase in revenue, from $263.2 to $285.2 million, and a 20 percent decrease in earnings for the quarter.

Regional Bell Operating Companies (RBOCs) Southwestern Bell, BellSouth and Nynex, report promising earning results for their 1st qtr 1994. Southwestern Bell posted record earnings of $357.7 million, or 59 cents a share. Earnings for the same period in 1993 were $302.5 million, or 50 cents a share, not factoring in one-time accounting charges, which accounted for a net loss of $1.9 billion. BellSouth reported a 7.7% increase in quarterly revenue to $4.12 billion, up from $3.83 billion for the same period in 1993. BellSouth's 1st qtr net income climbed to a record level of $585.3 million, or $1.18 a share. Nynex, which usually performs poorly compared to other RBOCs, posted a slight revenue decline of $3.27 billion from $3.32 billion. The decline was largely due to a New York state-imposed $78 million rate rollback in the 1st qtr. Nynex's net income was $290.6 million in 1st qtr 1994, up from a year earlier rate of $207.6 million.

Three regional Bell operating companies report mixed 3rd qtr 1993 financial results, influenced by cost-cutting efforts and improving regional economies. BellSouth Corp posts operating profits up 21 percent to $909.1 million from $750.8 million. The company eliminated 623 jobs in its telephone operations over 3rd qtr 1993. Revenue increased 7.5 percent to $4.01 billion from $3.74 billion. Southwestern Bell Corp reports a profit increase of 11 percent to $455.8 million, excluding charges, or 76 cents per share, from $410.6 million, or 68 cents per share, 3rd qtr. One-time expenses result from severe flooding in the company's service area. Revenue increases 6.8 percent to $2.80 billion. Nynex Corp reports flat earnings, excluding charges related to taxes and debt retirement. Revenue remains flat at $3.33 billion, and operating expenses fell to $2.68 billion from $2.71 billion in 3rd qtr 1992.

GTE Corp and the regional bell holding companies post lower than expected earnings for 2nd qtr 1992. Industry observers expect Southwestern Bell Corp to earn 95 cents per share, up from 57 cents during the same period in 1991, and BellSouth to earn 84 cents per share, up from 76 cents during 1991. Southwestern Bell has experienced an increase in subscribers, as well as making an investment in Telefonos de Mexico, while BellSouth experienced growth in access lines. GTE is expected to report earnings of 55 cents per share, up from 45 cents in 1991, due to geographical diversity. Other companies, including Ameritech, Bell Atlantic Corp, Nynex Corp and Pacific Telesis Group posted either flat or very low growth. Industry observers note that the economic health of the region where individual companies does business directly influences the companies' economic performance.

Three Bell operating companies - Nynex Corp, Southwestern Bell Corp and BellSouth Corp - post small profits for 4th qtr 1991 if restructuring and other charges are excluded. Nynex Corp reports a major loss because of a $211 million reorganization charge after its sale of Nynex Business Centers. Revenues for the quarter are down 5.8 percent, from $3.44 billion a year earlier, to $3.24 billion. Customer phone lines are up 1.2 percent, to 15,455,000, in Dec 1991. Southwestern Bell, meanwhile, posts $2.5 billion in revenue, up from $2.4 billion in 1990. The firm is taking a $30 million charge for layoffs in the quarter as well as a one-time charge of $81 million for payment of long-term debts for the year. In 4th qtr 1990, BellSouth is taking a one-time charge $65 million, or 13 cents per share. Revenue is up 1.2 percent, from $3.65 billion to $3.69 billion. Southern New England Telecommunications Corp's (SNET's) finances are also discussed. SNET's revenue is up, to $409.8 billion from 406.1 billion.

Three telephone companies - Southwestern Bell Corp, Bell Atlantic Corp and U S West - report flat or lower earnings in 2nd qtr 1991. Southwestern Bell's net income was down 34 percent, at $172.6 million, or 57 cents a share, from $262.5 million, or 87 cents a share, in the same period in 1990. The company included a one-time charge of $80.7 million, or 27 cents a share, for refinancing of debt. Bell Atlantic reports that net income was down 2.1 percent, to $355.1 million, or 91 cents a share, from $362.8 million, or 92 cents a share. Revenue was flat, at $3.08 billion. U S West reported net income of 276.6 million, or 70 cents a share, which compares with $276.4 million, or 72 cents a share last year. Southwestern Bell reports that the number of customer telephone lines in service, in the 2nd qtr, was 12.2 million, up 2.5 percent. Bell Atlantic's customer lines are were up 1.7 percent, to 17.6 million. And U S West's customer lines were up 3.1 percent, to 12.7 million.

Three Baby Bell companies - Southwestern Bell Corp, Ameritech and Pacific Telesis Group - and US Sprint's parent United Telecommunications report poor earnings in the 1st qtr of 1991. Slow growth in customer telephone hookups is blamed for the lackluster earnings. Southwestern Bell's profit is down 9.6 percent, Ameritech's is down 6.8 percent and Pacific Telesis Group's is up only 1.5 percent. An industry observer characterizes these results as 'fairly indicative' of regional Bell companies. Southwestern Bell's earnings were affected by rate reductions imposed by a Texas regulatory plan. United Telecom's 39 percent decrease in operating profit from the 1st qtr of 1990 is blamed on continued poor performance by its US Sprint subsidiary.

Southwestern Bell Corp posts a 10 percent drop in earnings for the 4th qtr 1990. Investors express their disappointment by driving the stock down $2.375 a share to close at $50.25 on Jan 23, 1991. Southwestern's stock fell $2.625 a share on Jan 22, 1991 after news that other Bell regional holding companies reported lower earnings. The telephone company reports earnings of $267.5 million, or 89 cents a share, which includes charges of $45 million, or 15 cents a share. Charges were related to work reduction programs of which 1,100 managers were participants. Southwestern Bell added only 15,000 telephone access lines for the qtr, a far cry from its record of 130,000 access lines added in the previous qtr in 1990.

Third quarter results from five Baby Bell's - Ameritech, BellSouth, Pacific Telesis, Southwestern Bell and Cincinnati Bell - are generally impressive. BellSouth Corp is the only Bell company to report flat profits, primarily because of rate reductions in six of the nine states in its service area. BellSouth's revenue rises to $3.6 billion from $3.5 billion. Ameritech reports revenues increasing by 4.5 percent due to strong growth in new lines. Pacific Telesis reports an increase in net income of 2.5 percent, and revenue rises by 4.2 percent. Southwestern Bell reports that revenues for the quarter are up 7.2 percent. Cincinnati Bell reports a revenue increase of 18 percent.

ST. LOUIS, Jan. 22 /PRNewswire/ -- Southwestern Bell Corp. (NYSE: SBC) today reported record annual earnings for 1992 of $1,301.7 million or $4.34 per share, up 12.6 percent from a [...]