SBC Communications Reports Second-Quarter Diluted EPS of $0.42

SBC Communications Reports Second-Quarter Diluted EPS of $0.42

Post by Monty Solomo » Sat, 26 Jul 2003 08:41:56



SAN ANTONIO--(BUSINESS WIRE)--July 24, 2003--SBC Communications
Inc. (NYSE:SBC)

Product Bundling, Sound Execution Drive Strong Second-Quarter
Marketplace Results:

    --  2.3 million long distance lines added, best-ever Bell company
        net-add quarter

    --  304,000 DSL net adds, industry's best ever and SBC's sixth
        straight quarter of accelerated growth

    --  540,000 net adds at Cingular Wireless, nearly triple company's
        first-quarter total

    --  37 percent sequential decline in UNE-P lines added companywide

SBC Communications Inc. (NYSE:SBC) today reported second-quarter
results that include the best quarter ever reported by a Bell company
for net adds in both long distance and DSL service.

For the three months ended June 30, 2003, SBC reported earnings per
diluted share of $0.42, compared with $0.53 in the year-ago
quarter. Second-quarter revenues totaled $10.2 billion, compared with
$10.8 billion in the year-ago period. These revenue figures do not
include proportionate results from Cingular Wireless, the nationwide
wireless company that is 60 percent owned by SBC. Cingular's revenues
for the quarter were $3.8 billion, up 1.0 percent from the prior-year
period and up 5.5 percent from the first quarter of this year. SBC's
second-quarter operating expenses totaled $8.5 billion, compared with
$8.7 billion in the year-ago period. These expense figures do not
include proportionate results from Cingular. Cingular's expenses for
the quarter were $3.0 billion, up 0.1 percent from the prior-year
period.

Year-over-year comparisons were affected by competition, increased
costs related to pension and postretirement benefits, and by
accounting changes implemented at the beginning of this year, which
are explained in detail below.

     - http://finance.lycos.com/home/news/story.asp?story=34976025

 
 
 

1. SBC Communications Reports First-Quarter Earnings

     SBC Communications Reports First-Quarter Earnings Per Diluted
     Share of $1.50; $0.74 Before Cumulative Effects of Accounting
     Changes

SAN ANTONIO--(BUSINESS WIRE)--April 24, 2003--

      Company Records Best-Ever Quarterly Growth in DSL and Long
    Distance: Adds 270,000 DSL Internet Subscribers and 1.5 Million
                 Long-Distance Lines in First Quarter

    Reaches California Long-Distance Retail Line Penetration of 13
         Percent for Consumer, 10 Percent Overall by April 21

SBC Communications Inc. (NYSE:SBC) today reported first-quarter
results that reflect robust growth in DSL and long-distance
subscribers despite continued revenue pressure and access line loss
due to the economic and competitive environments.

For the three months ended March 31, 2003, SBC reported earnings
per diluted share of $0.74 before the cumulative effects of accounting
changes and $1.50 after the cumulative effects of accounting changes.
This compares with first-quarter 2002 results of earnings per diluted
share of $0.48 before the effects of accounting changes and a loss per
diluted share of $(0.06) after the effects of accounting changes.
First-quarter 2003 results include an after-tax gain of $0.32 per
diluted share related to the sale of SBC's interest in Cegetel, a
joint venture that owns 80 percent of a French wireless company.
Accounting changes are discussed in detail below.

First-quarter reported revenues totaled $10.3 billion, compared
with $10.5 billion in the year-ago period. These figures do not
include proportionate results from Cingular Wireless, the nationwide
wireless company that is 60 percent owned by SBC. Cingular's revenues
for the quarter were $3.6 billion, up 1.3 percent from the prior-year
period. Revenues also were affected by an accounting change discussed
below.

     - http://finance.lycos.com/home/news/story.asp?story=33941129

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