Williams Communications reports third quarter earnings
Tuesday, November 2nd 1999, 12:00 am
By: News On 6
TULSA, Okla. (AP) -- Williams Communications Group today reported a net loss of $85.9 million, or 19 cents a share, for the third
quarter, even as revenues increased 18 percent.
The net loss compares with a loss of $61.9 million, or 13 cents a share, a year ago.
Williams Communications, making its first earnings report as a public company, had an unaudited loss of $33.9 million before interest, taxes, depreciation and amortization and other items, compared with $15.3 million for the same quarter of 1998.
Third-quarter revenues jumped $75.2 million from a year ago to $498.3 million. Williams said milestones for the third quarter included
extending its fiber-optic network to 19,600 route miles in operation and 22,600 miles of installed cable, the launch of a national wholesale switched voice network, a national television advertising campaign and the completion of an initial public offering and high-yield debt package.
In previous quarters, Williams
Communications' results were included in the quarterly reports of Williams, which retains
ownership of about 85 percent of Williams Communications shares.