Ralph
02.03.2001, 05:59
SBC Communications Projects First-Quarter Shortfall
By Chris Frankie
Editorial Assistant
3/1/01 5:52 PM ET
SBC Communications (SBC:NYSE - news) said Thursday that its earnings for the first quarter will likely fall below Wall Street's current expectations.
The telecommunications service provider, which is a member of the Dow Jones Industrial Average, said it expects earnings in the first quarter of 50 cents to 53 cents a share, below both the consensus estimate of 59 cents and the profit of 56 cents in the year-ago period. The company projected earnings in excess of 60 cents a share for each of the remaining three quarters of 2001.
Analysts polled by First Call/Thomson Financial are calling for the company to earn 62 cents in the second quarter, 64 cents in the third quarter and 69 cents in the fourth quarter.
The company expects earnings per share for the full year to increase by 11% to 14%, before one-time items. Revenue is expected to rise by 8% to 9%, including the company proportionate results from Cingular Wireless, a venture with BellSouth (BLS:NYSE - news). Wall Street is calling for earnings of $2.53 for the full year.
SBC earned $2.26 a share for 2000 on revenue of $53.3 billion. The company's earnings projection for 2001 is in line with the guidance SBC provided in December, a forecast that, at the time, was short of analysts' growth estimates.
The company said its expenses increased starting in the second quarter of 2000 because of the acquisition of Sterling Commerce, and SBC indicated that year-ago quarter comparisons aren't directly comparable.
SBC also expects capital spending in 2001 "to be comparable" with last year's levels. Shares of SBC lost $2.20, or 4.6%, to $45.50 at the close of New York Stock Exchange trading. ..... operatives Wachstum dürfte dann aber schwierig werden !
<IMG SRC="http://charts.cnbc.com/jetson/GR-D-SBC-0.5940629893405689-2-255-0-520-460-212-S_208_30_0_D_D_S_104_D_D_D_D_-ind.gif" border=0>
Ralph
By Chris Frankie
Editorial Assistant
3/1/01 5:52 PM ET
SBC Communications (SBC:NYSE - news) said Thursday that its earnings for the first quarter will likely fall below Wall Street's current expectations.
The telecommunications service provider, which is a member of the Dow Jones Industrial Average, said it expects earnings in the first quarter of 50 cents to 53 cents a share, below both the consensus estimate of 59 cents and the profit of 56 cents in the year-ago period. The company projected earnings in excess of 60 cents a share for each of the remaining three quarters of 2001.
Analysts polled by First Call/Thomson Financial are calling for the company to earn 62 cents in the second quarter, 64 cents in the third quarter and 69 cents in the fourth quarter.
The company expects earnings per share for the full year to increase by 11% to 14%, before one-time items. Revenue is expected to rise by 8% to 9%, including the company proportionate results from Cingular Wireless, a venture with BellSouth (BLS:NYSE - news). Wall Street is calling for earnings of $2.53 for the full year.
SBC earned $2.26 a share for 2000 on revenue of $53.3 billion. The company's earnings projection for 2001 is in line with the guidance SBC provided in December, a forecast that, at the time, was short of analysts' growth estimates.
The company said its expenses increased starting in the second quarter of 2000 because of the acquisition of Sterling Commerce, and SBC indicated that year-ago quarter comparisons aren't directly comparable.
SBC also expects capital spending in 2001 "to be comparable" with last year's levels. Shares of SBC lost $2.20, or 4.6%, to $45.50 at the close of New York Stock Exchange trading. ..... operatives Wachstum dürfte dann aber schwierig werden !
<IMG SRC="http://charts.cnbc.com/jetson/GR-D-SBC-0.5940629893405689-2-255-0-520-460-212-S_208_30_0_D_D_S_104_D_D_D_D_-ind.gif" border=0>
Ralph