biz.yahoo.com
Friday April 19, 4:52 pm Eastern Time
Press Release
SOURCE: WorldCom, Inc.
WorldCom Group Revises 2002 Guidance
CLINTON, Miss.--(BUSINESS WIRE)--April 19, 2002--WorldCom, Inc. has issued new full-year 2002 financial guidance for WorldCom group (NASDAQ:WCOM - news), reflecting current telecommunications market conditions. There are no changes to MCI group (NASDAQ:MCIT - news) full-year 2002 financial guidance.
WorldCom group currently expects full-year 2002 revenues of $21 billion to $21.5 billion, EBITDA (earnings before interest, taxes, depreciation and amortization) of $7 billion to $7.5 billion and capital expenditures of approximately $4.5 billion. WorldCom, Inc. continues to expect approximately $1 billion of consolidated 2002 free cash flow from operations.
The reduced revenue and EBITDA outlook stems primarily from volume reductions associated with current economic conditions, including lower voice volumes and Internet and data network reductions by enterprise customers.
WorldCom will release first quarter 2002 financial results April 25, 2002 and host a WorldCom group investor conference call at 7:30 a.m. CDT and an MCI group call at 10:00 a.m. CDT. Both calls will be broadcast on the Internet at www.worldcom.com/investor/. |
