Hi Joel,
Of course Schwab took this story out as soon as price dropped, rather fishy.
Here is what I found at wsrn.com:
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ACC Corp. Expects Continued Growth in 1997 and Beyond
PR Newswire - April 24, 1997 12:33
FINANCIAL ACCC TLS ERN V%PRN P%PRN
ROCHESTER, N.Y., April 24 /PRNewswire/ -- ACC Corp. (Nasdaq-NNM: ACCC), an
international telecommunications holding company, yesterday reported its first
quarter financial results. Earnings per share were $0.23. The consensus
analysts' estimate for earnings per share for the first quarter was also
$0.23. ACC's earnings results were driven by a 24% increase in consolidated
revenue and an 80% increase in operating income versus a year ago.
ACC's core business remains strong. The company has announced no changes
in its business plan or growth strategies going forward, and believes that
current expectations of future financial results are achievable. Chairman and
CEO David K. Laniak said, "We continue to believe that there are tremendous
growth opportunities in all of our markets, and we will continue to
aggressively execute our strategies in the U.S., Canada, and U.K."
ACC Corp. is an international telecommunications holding company
headquartered in Rochester, New York. ACC subsidiaries provide
telecommunications services to business, residential, and student customers in
the United States, Canada, and the United Kingdom, as well as specialized
programs for colleges, universities, and other carriers. ACC Corp. has
annualized revenue in excess of $330 million.
SOURCE ACC Corp.
CONTACT: Michael R. Daley, Executive VP and CFO, 716-987-3175, or Philip
H. Yawman, VP Investor Relations, 716-987-3301, both of ACC Corp.
/Today's ACC news release, along with past releases, is posted on ACC
Corp.'s Internet website, at acccorp.com. It is also available
free through PR Newswire's Company News on Call fax service at
1-800-758-5804, extension 007207.
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