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Date: Tuesday, February 08, 2000, 8:24 AM -0500
From: Faulkner Mail Server <postmaster@[146.145.40.37]>
To: ???
Subject: Faulkner Com Flash 02/07/2000 - (Part 2 of 3)

Financial News (Cont'd)

For the three months ended December 31, SBC Communications' revenues
increased to $12.9 billion from $12 billion for the same quarter in 1998.
Net income was $3.1 billion, or $0.90 diluted earnings per share, compared
to $1.5 billion, or $0.44 diluted earnings per share. Fourth quarter profits
were fueled by an increased demand for data and wireless services. These
results do not reflect the one-time gain of $1.38 billion from the sale of
wireless operations to satisfy anti-competitive concerns in the purchase of
Ameritech. For the fiscal year ended December 31, 1999, revenues were $49.5
billion, up from $46.2 billion in 1998. Net income for the year was $8.2
billion or $2.36 diluted earnings per share, compared to $7.7 billion, or
$2.23 diluted earnings per share.
	 Sprint FON announced an 8 percent revenue increase in the fourth quarter
	 of 1999, up to $4.4 billion from $4.1 billion for the same period a year
earlier. Net income was $416 million, or $0.61 per diluted share, compared
to net income of $404 million, or $0.51 per diluted share. Yearly income for
Sprint FON showed record numbers as well. Revenues for 1999 grew to $17.0
billion from $15.8 billion in 1998, an eight percent increase. Net income
grew two percent to $1.6 billion, or $2.31 per diluted share, up from $1.5
billion, or $2.03 per diluted share.
	 Sprint PCS total net operating revenues for the 1999's fourth quarter were
$996 million, up 128 percent from the same quarter a year earlier. Net loss
for the quarter was $706 million, or a loss of $0.75 per share, compared to
a net loss of $647 million, or a loss per share of $0.76 reported for the
same quarter a year earlier. Annual revenues were $3.18 billion, up 159
percent from 1998 figures. Net loss for the year was $2.5 billion, or $2.73
per share, compared to 1998's net loss of $1.1 billion, or $2.25 per share.
Customer figures increased more than 1 million during the fourth quarter,
ending 1999 with more than 5.7 million subscribers.
	 For the fiscal year 1999, Time Warner's revenues soared to $27.3 billion
from $14.6 billion in fiscal 1998. Net income for the year was $1.9 billion,
or a per-share gain of $1.42, compared to a loss of $372 million, or a loss
of $0.31 per share. The financial success is partially based on $270 million
in net proceeds from Time Warner Telecom's IPO in May of 1999. Revenues for
the TW Cable Networks division were up 25 percent to $394 million and TW
Cable revenues hit a $1.5 billion record. For the fourth quarter, the
company's revenues were $8 billion, nearly doubling the $4.2 billion
reported in the fourth quarter of 1998. Net income for the quarter increased
to $841 million, or $0.62 per share, compared to a loss of $214 million, or
a per-share loss of $0.17. Cable Networks, Publishing, and Cable all posted
all-time records in the quarter.
	 For the fourth quarter, US WEST's consolidated revenues were $3.5 billion,
a 8.8 percent increase over the same quarter in 1998. Consolidated net
income slipped to $166 million, or $0.32 diluted earnings per share, from
$397 million, or $0.78 diluted earnings per share. Nearly 78 percent of
revenue growth for the quarter resulted from the acceleration of data and
wireless products. For the year ended December 31, 1999, revenues increased
6.3 percent to $13.2 billion from $12.4 billion in the fiscal year 1998. Net
income dropped 6.5 percent to $1.3 billion, or $2.63 diluted earnings per
share, from $1.4 billion, or $2.84 diluted earnings per share. Data revenue
was up 34 percent for the year to $1.7 billion. The !NTERPRISE division
continued to profit, generating $847 million in revenues, a 59 percent
increase over last years results. 
	 A 200 percent growth in Internet and data revenues helped lead to Qwest's
record earnings for the fourth quarter 1999 and year-end 1999. Fourth
quarter revenues were $1.2 billion for 1999, an increase of 34 percent over
$865.1 million in 1998. Net income jumped to $437 million, or $0.56 per
diluted share, compared to a net loss of $21.6 million, or a loss of $0.03
per diluted share. Revenues increased by 75 percent for fiscal 1999, to $3.9
billion from $2.2 billion the previous year. Net income was $458.5 million,
or $0.60 per diluted share, an increase from net loss of $844 million, or a
loss of $1.51 per diluted share.

Internetworking 
	 Cisco Systems extended its Catalyst 6000 family into Enterprise wiring
closets with the introduction of the Catalyst 4000 and 5000 product series.
These product series will enable network professionals to deploy scaling
end-to-end networks.

Internet/Intranet 
	 AT&T signed a $3.8 million, 10 year contract to provide Internet service
and connectivity to all 26 Carnegie Library locations in the City of
Pittsburgh and 10 more locations in Allegheny County.
	 Bell Canada formed a joint venture with Lycos to develop an Internet
portal. Bell Canada will hold a 71-percent majority stake in the venture,
called Sympatico-Lycos. The company could be floated through an IPO after a
year of operations.
	 MicroCast signed contracts worth $102 million for use of AT&T 's
high-bandwidth networking services to expand its marketing and video content
streaming services. MicroCast's Danbury, Conn. headquarters will be directly
connected to its content servers throughout the US by AT&T's ATM service.
	 Motorola's Internet and Networking Group introduced the Vanguard Instant
Access 2130, an intelligent SDSL router for small to medium sized
businesses. This product enables SMBs to take advantage of a cost-effective,
high-bandwidth alternative to T1 lines that usually go beyond the means of
the average small business owner.
	 Nortel Networks introduced its e-mobility Internet base transceiver
	 station (iBTS), which will support all major second and third generation
digital standards in a single base station. The iBTS will allow operators
to move to wideband packet radio as part of an overall evolution to
packet-centric, IP networks for high-quality wireless voice, data, and
Internet services. The Nortel Networks e-mobility iBTS will be available at
the end of 2000 for UMTSW, GSM, GPRS, and EDGE. Later versions will add
support for cdmaOne, cdma2000, TDMA IS-136, and UWC-136/EDGE.
	 SiberCore Technologies introduced a technology for designing PFEs that
	 will support multi-gigabit and terabit routers, as well as multi-layer
Ethernet switches. Based on a ternary CAM architecture, SiberCore's packet
forwarding engines will support high-speed, multi-protocol look-ups through
Layer 7 that will provide information on QoS and CoS, as well as supporting
IPv6. The company's initial product offering is expected in the first
quarter of 2000.

Local Area Networking 
	 Proxim and Be entered into a joint technology and marketing effort to
integrate Proxim's HomeRF wireless networking technology into Be's platform
for Internet appliances, code-named Stinger. Proxim and Be plan to offer a
seamless wireless extension to Be's Stinger platform, enabling web pads and
other Internet appliances and dedicated devices to distribute media and
share broadband Internet access wirelessly in and around the home. Be
expects to formally introduce Stinger later this quarter.

Legal News 
	 EchoStar Communications, which markets under the DISH Network name, filed
	 a lawsuit against DIRECTV Enterprises, citing that its competitor
monopolized the distribution of satellite television. The company also
named Hughes Networks Systems and Thomson Consumer Electronics as
defendants. EchoStar has 1.47 million subscribers, while DIRECTV has 7.9
million customers. The lawsuit seeks: an injunction to bar the defendants
from engaging in anti-competitive conduct; an injunction to bar the
defendants from offering inducements to retailers in exchange for not
selling DISH service; a court order overturning exclusive contracts between
DIRECTV and certain sports leagues; and unspecified monetary damages.
	 Pacific Bell, a subsidiary of SBC Communications, filed a complaint with
the California Public Utilities Commission (PUC) accusing AT&T of illegally
switching customers' local toll service away from PacBell to AT&T. The
company contends that AT&T uses misleading sales practices to confuse
customers into switching their local toll service without consent. Between
January and June 1998, 1216 slamming complaints were filed against AT&T with
the FCC.

Mergers/Acquisitions/Divestitures 
	 Amper, a Spanish telecommunications equipment maker, agreed to purchase a
40-percent stake in Medidata Group, a Brazilian systems integration company.
Amper also will receive an option to buy the rest of the company.
	 Metrocall will acquire NationPage from AT&T Wireless Services. NationPage
is a subsidiary of Vangaurd Cellular, which was acquired by AT&T WS in May
1999. BCE will spin off a 37-percent stake (valued at $53 billion) in Nortel
Networks to shareholders. A new company will be created to own the shares.
BCE will retain a two-percent stake in Nortel. Nortel shareholders will
receive one share of common stock in the new company to maintain their level
of investment. BCE shareholders will retain their shares and will receive
0.78 shares of common stock for each of their own. The deal is pending
shareholder approval, but the board from both companies have already given
their blessing to the deal.
	 In an attempt to accelerate approval of their $70 billion merger, Bell
Atlantic and GTE filed a plan with the FCC that proposed spinning off GTE's
Internet backbone and related data businesses as a separate, publicly traded
company. The merged Bell Atlantic-GTE would retain 10 percent of the new
company, with the option of increasing its stake as it wins relief to offer
long distance throughout its region. In addition, the companies pledged
their commitment to invest $500 million to compete with other ILECs for
local service outside their traditional local service territories. GTE also
offered to end its mandatory minimum charge on long distance call once AT&T
does the same.
	 Bell Canada announced plans to sell its 39-percent stake in Tata Cellular,
a wireless operator in India, to the Tata Group. This move will raise the
Tata Group's stake in the wireless company to 90 percent.
	 Bell Canada announced that its subsidiary, Bell Mobility, will acquire
PageMart Canada from WebLink Wireless. Additionally, Bell Mobility will
construct a two-way wireless data network that will be used by Bell Mobility
and Weblink Wireless, which will hold rights to use the network until 2010.
	 Bell SA enlarged its stake in Olivetti to approximately 20 percent. Bell
	 SA is a consortium of investors comprising Olivetti's CEO, Robert
Colaninno, and Emiliop Gnutti. The increase of the stake is part of
Olivetti's plan to shore up its defenses against any possible takeover
attempts.
	 The European Union approved BellSouth's acquisition of Vodafone AirTouch's
stake in E-Plus, a German mobile phone operator. Now, BellSouth plans to buy
the 60 percent stake in E-Plus owned by a joint venture between German
utility firms RWE AG and Veba, a purchase that will allow BellSouth to share
control in E-Plus with KPN NV of the Netherlands.
	 Cox Communications completed the acquisition of Gannett's cable television
operations Kansas, Oklahoma, and North Carolina, serving 524,500 customers.
The deal was valued at $2.7 billion.
	 INMARSAT entered the VSAT market with a "knowledge acquisition" of part of
EAE Limited, a subsidiary of the EAE Group. The part of the company that was
acquired provides integrated telecommunications systems and services, which
include satellite systems, radio systems, and VSAT solutions to the oil and
gas, maritime, government, and emergency services markets.
	 Interleaf will be bought by Broadvision for $852 million. Broadvision will
use the transaction to expand into the business-to-business and wireless
markets.
	 Speculation surrounds Craig McCaw's interest in Iridium. It has been
reported that the mobile phone pioneer may be attempting to purchase
bankrupt global satellite telecommunications company, Iridium. Business Week
cited sources close to McCaw, who said that he is willing to discuss a deal
with Motorola, the company's major financial backer.
	 Lockheed Martin may give up on its acquisition of COMSAT if a law is
adopted by Congress that will reduce COMSAT's 20 percent interest in
INTELSAT. Lockheed has been fighting to convince lawmakers to pass a reform
bill that will allow the takeover, but other users of the COMSAT network,
such as AT&T and MCI WorldCom, are pushing to limit COMSAT's offerings and
to dilute its ownership stake. Lockheed, which bought a 49 percent interest
in the company last year, needs Congress to lift the ownership limit in
order to acquire the remaining stock.
	 Lucent and PrimeCo signed a $210 million deal where PrimeCo will buy
infrastructure equipment from Lucent to expand its network and create
markets in Florida, Texas, and the Gulf region. PrimeCo began installing
switching elements and base stations in the fourth quarter of 1999. PrimeCo
will also begin using CDMA technology, which Lucent is testing.
	 Motorola plans to sell its Motorola Lighting Unit to OSRAM SYLVANIA, the
North American unit of German lighting manufacturer OSRAM GmbH. The Motorola
unit will become part of ORSAM SYLVANIA's Electric Control Systems business.
The deal is expected to become finalized by April 2000.
	 Nokia plans to acquire Network Alchemy, provider of IP Clustering
Solutions. The acquisition would give Nokia a platform from which to build
its mobile information solutions. The transaction, which is expected to
close in the first quarter of 2000, will give Nokia the outstanding capital
stock of Network Alchemy in exchange for Nokia stock options worth $335
million. Nortel Networks completed its $3.25 billion, all-stock acquisition
	 of Qtera, landing the company as a wholly owned unit of Nortel. Under
terms of the deal, each outstanding share of Qtera preferred stock and
common stock converted into a right to receive 1.3350 Nortel common shares,
for a total of approximately 23 million Nortel common shares. Additionally,
up to $500 million in Nortel common shares may also be issue to former Qtera
shareholders if Qtera achieves certain business objectives. Fahri Diner,
Qtera president and CEO will continue to lead the business as president,
reporting to Mike Unger, president, Optical Networks. Qtera's operations
will remain in Boca Raton, Florida and Richardson, Texas.
	 QUALCOMM plans to acquire SnapTrack, a company dealing with wireless
position locator technology. The deal is in line with QUALCOMM's intentions
to capitalize on the growing market for mobile location-based services and
wireless internet.
	 Rumors have been flying that SingTel and Cable & Wireless are in talks
about a deal that would hand over the British company's Hong Kong Unit, C&W
HKT, to SingTel for $16.52 billion. The two companies admitted that they are
at the negotiating table, but they are working on a merger of SingTel and
HKT instead of an acquisition. While no terms have been agreed upon yet, the
two companies would merge on an equal basis. If the merger goes through, the
newly formed company would be a powerful player in the Asian
telecommunications market, and it could give Asian powerhouse NTT a run for
its money. SingTel is a former monopoly in Singapore, and it holds a 50
percent market share with its ISP, SingNet. HKT is facing a stream of new
entrants into the recently deregulated Hong Kong, but it has a strong
foothold in the market. It also helps operate Cable & Wireless Asia, a joint
venture with its parent company.
	 SpecTran will become a part of Lucent Technologies' Microelectronics and
Communications Technology division after Lucent completed its acquisition of
SpecTran.
	 Tele Centro Sul, a Brazilian fixed-line carrier, is negotiating with
Telefonica de Espana about the purchasing Cia Riograndense de
Telecomunicacoes (CRT). Telefonica is being forced by regulators to divest
CRT by February 5th because it holds a controlling stake of Telesp, the
fixed-line carrier that services Sao Paulo. Telefonica owns 85 percent of
CRT's voting stock.
	 Telia and Worldwide Fiber, a Canadian fiber-optic company, agreed to trade
certain infrastructure assets in North America and Europe. Worldwide Fiber
will acquire 4000 miles of fiber in France, Germany, Sweden, Norway,
Denmark, the Netherlands, and the UK, as well as collocation space in
switching facilities across Europe. In exchange, Telia will acquire 8700
miles of fiber, connecting 17 cities across the US. Likewise, Telia will
acquire collocation space in switching facilities in the US. The swap will
be completed in the second quarter of 2000.
	 United Pan-Europe Communications agreed to purchase Eneco's cable assets
for $1.13 billion. In related news, UPC announced that it will also acquire
Tebecai Netwerken and Tebecai Telecom for $76.82 million.
	 To eliminate the overlap of networks with regard to the company's merger
with Vodafone AirTouch, Bell Atlantic agreed to swap wireless service area
properties in 13 states with ALLTEL. The properties given up by Bell
Atlantic and its merger partner, GTE, include wireless interests in 27
markets and serve more than 1.5 million customers. Through the deal, which
is expected to be completed in mid-2000, the companies will gain ALLTEL's
wireless assets in 42 markets as well as a $600 million payment that ALLTEL
will make to Bell Atlantic, GTE, and Vodafone AirTouch.
	 Vodafone AirTouch held an extraordinary general meeting on January 24,
	 2000 to approve two of the company's biggest deals. At the meeting
shareholders discussed the issue of shares required for its Mannesmann bid
and addressed plans for the companies joint venture with Bell Atlantic. The
two proposed deals were met with overwhelming shareholder approval.
	 XIOtech is now a wholly-owned subsidiary of Seagate Technology after
Seagate completed the acquisition of XIOtech for $360 million in common
stock. Seagate calls the deal a purchase transaction and will pay a $111
million operations charge.

Personnel and Organizational Changes 
	 As part of its ongoing plan to cut $2 billion in expenses, AT&T notified
hundreds of workers in several business units that they will lose their jobs
in two months unless they can secure a new position within the company. AT&T
spokesman Burke Stinson reported that the company has not decided exactly
how many employees will get a pink slip this year, however, the final tally
will likely be in the thousands. In addition, the company plans to cut 25
percent of its 500 top managers. Overall, the company expects its employee
base to grow by about 2000 for the year due to the planned acquisition of
MediaOne and the expansion of its wireless and broadband units.
	 The newly formed AT&T Wireless Services Group appointed Mohan Gyani as its
executive vice president and CFO. Gyani, formerly the CFO for AirTouch
Communications, will take his position on February 1, 2000. Gyani will
report to John D. Zeglis, president of AT&T and the chairman and CEO of the
Wireless Group.
	 Bell Atlantic and GTE named 23 senior executives to leadership positions
	 in key business units and corporate organizations for the
soon-to-be-merged company. The following executives will lead the telecom
unit: Lawrence T. Babbio, vice chairman and president; Frederick D.
D'Alessio,
president--advanced services; Bruce S. Gordon, president--retail markets;
Paul A. Lacouture, president--wholesale markets; Eduardo R. Menasce,
president--enterprise solutions; Eileen O. Odum, president--national
operations; and Doreen A. Toben, senior vice president and Telecom CFO. The
wireless business being formed through the merger and the combination of the
US wireless assets of Bell Atlantic and Vodafone will operate under
president Dennis F. Strigl, along with the following executives: Lowell C.
McAdam, executive vice president and COO; Edward Langston, vice president
and CFO; and Richard J. Lynch, executive vice president and CTO. James A.
Attwood will be executive vice president--strategy, development, planning
and Mary Beth Bardin will be executive vice president--public affairs and
communications. Both executives will report the Charles R. Lee and Ican
Seidenberg, who will be co-CEOs of the new company. The following executives
will report to Frederic V. Salerno, vice chairman and CFO: William F.
Heitmann, vice president and treasurer; Lawrence R. Whitman, vice president
and controller; John F. Killian, vice president--investor relations; and
Thomas J, Tauke, senior vice president--public policy and external affairs.
Paul R. Gudonis will be president of the Internetworking, Information
Services, and International unit, which is proposed to become an independent
company at the close of the merger. Additional executive members of the unit
are: Joseph C. Farina, executive vice president and COO; Daniel P. O'Brien,
executive vice president and CFO; Ketherine J. Harless,
president--information services; Thomas A. Bartlett, president--global
network and transport solutions; Daniel C. Petri, president--International,
Europe/Asia; and Fares F. Salloum, president--International, The Americas.
The designations take effect upon the completion of the merger.
         Comcast promoted John R. Alchin, Stephen B. Burke, and Stanley Wang
to executive vice presidents of the company. Alchin was named executive vice
president and treasurer, Burke was promoted executive vice president and
president of Comcast Cable. In addition to Wang's role as executive vice
president, he will serve as the company's secretary and general counsel.
	 Nicholas D. Trigony, the president of Cox Enterprises, a subsidiary of Cox
Broadcasting, will retire at the end of the year. Andrew S. Fisher was named
to the newly created position of executive vice president, Cox television,
effective February 1. When Trigony retires at the end of the year, Fisher
will be named president, Cox Television and will take responsibility for
Cox-owned television firms, as well as Cox Broadcasting subsidiaries.
Faulkner Information Service
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Missy Harvey
Computer Science Librarian
Engineering & Science Library
Carnegie Mellon University
Pittsburgh, PA  15213

http://www.library.cmu.edu/usr/missy/

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