All,
STAMFORD, Conn.--(BUSINESS WIRE)--April 14, 1998-- GTE Corp. today announced its first quarter, 1998 financial results by reporting a record consolidated revenue growth of 11 percent and earnings per share (EPS) growth of 10 percent from core operations, continuing its double digit core EPS growth for the eleventh consecutive quarter.
GTE Chairman and CEO Charles R. Lee said, ''GTE continues to enjoy strong revenue growth throughout our operations as we invest in high- growth opportunities that improve our competitive position. In fact, our first quarter consolidated revenue growth is the highest percent improvement ever recorded by GTE. We are successfully implementing our strategy to transform GTE into a growing, market leading provider of telecommunications services and are on track to achieve our financial objectives in 1998 and beyond.''
''We continue to be pleased with the progress we are making in our data and our national sales, service and marketing initiatives,'' Mr. Lee added. ''In just the first quarter, revenue from our data initiatives grew 22 percent from the fourth quarter of 1997, and we expect to see strong growth in the future as we roll out new services such as high-speed (ADSL) Internet access. Further, we now have launched our national sales, service and marketing operations in four states with plans to be in several more in 1998. At the same time, we are carefully reviewing every opportunity to improve our competitive position by adding new capabilities. In this dynamic and highly competitive industry, we must remain flexible, with an ongoing focus on profitable growth and managing costs.''
Brian H. |
