Qwest Communications Reports Third Quarter 2002 Results

Qwest Communications Reports Third Quarter 2002 Results

Post by Monty Solomo » Fri, 01 Nov 2002 10:23:38



     -  Second Consecutive Quarter of Positive Free Cash Flow

     -  Liquidity Concerns Addressed With Amended/New Credit Facilities and
        Pending Sale of QwestDex

     -  Expects 2002 Revenue of Approximately $17.1 Billion and
        Adjusted EBITDA of Approximately $5.4 Billion

     -  Net Loss of ($214) Million or ($0.13) Per Share, Compared to
        a Loss of ($142) Million or ($0.09) Per Share in the Third
        Quarter of 2001

     Investors:  Please see 'Note to Investors' below for definitions and
     explanations of certain matters.

    DENVER, Oct. 30 /PRNewswire-FirstCall/ -- Qwest Communications
International Inc. (NYSE:Q) today announced its financial results for
the third quarter of 2002.  On a reported basis, the company reported
a net loss of ($214) million or ($0.13) per share, compared to a net
loss of ($142) million or ($0.09) per share in the third quarter of
2001.  The loss reflects after-tax non-operating items of $44 million,
or $0.02 per share, due to adjustments of restructuring reserves,
losses associated with the sale of certain assets and an adjustment to
the company's deferred tax provision.

http://finance.lycos.com/home/news/story.asp?story=29359542