Some earnings reports that indicate strength in telecommunications:
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SAN ANTONIO, April 20 /PRNewswire/ -- SBC Communications Inc. (NYSE: SBC) today announced that diluted earnings per share grew 14.3 percent to $0.56 from $0.49 in the first quarter, driven by continued strong performance in SBC's core wireline and wireless businesses. Earnings increased 14.9 percent to $1.1 billion from $970 million before an accounting change in the same period last year.
First-quarter revenues increased 6.7 percent to $7.3 billion from $6.9 billion last year, driven by strong growth in wireless and continued high demand for data and vertical services such as Caller ID.
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20 April 1999-TEXAS INSTUMENTS: TI announces first-quarter earnings of $0.65 per share, excluding charges
Texas Instruments (NYSE: TXN) today announced first-quarter 1999 diluted earnings per share (EPS) of $0.65, an increase of 48 percent from $0.44 in the year-ago quarter, excluding special charges. Compared to the fourth quarter of 1998, EPS was up $0.06, despite profit-sharing expenses for the quarter that increased $0.08 per share. This higher profit-sharing expense reflects management expectations of significantly increased operating margins in 1999 compared to 1998, which included the losses of the divested memory business.
TI's gross profit margin increased to 46.1 percent, compared with 40.6 percent in the year-ago quarter, and 45.5 percent in the fourth quarter of 1998, excluding special charges.
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Chicago-April 20-FWN--Ameritech today reported record first-quarter earnings, driven by rapid growth in data communications and continued strong contributions from its extensive European investments. The results marked Ameritech's 22nd consecutive quarter of double-digit profit growth before one-time items.
First-quarter earnings grew 19.5% to $705 million, up from $590 million a year ago before one-time items, and earnings per share climbed 18.9% to 63 cents, up from 53 cents in the first quarter of 1998. Revenues advanced 7.8% to a first-quarter record of $4.46 billion, up from $4.13 billion in the first quarter of 1998.
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IRVINE, Calif.--(BUSINESS WIRE)--April 20, 1999--Broadcom Corporation (Nasdaq: BRCM) today reported record financial results for the quarter ended March 31, 1999.
Revenue for the first quarter of 1999 was a record $96.3 million, an increase of 172.5% over the $35.3 million reported in the first quarter of 1998 and an increase of 37.4% over the $70.1 million reported in the fourth quarter of 1998. Net income was a record $19.3 million, compared with net income of $7.7 million in the first quarter of 1998.
Diluted earnings per share for the first quarter of 1999 were $.19, based on weighted average shares outstanding of 101.6 million. This compares with diluted earnings of $.09 per share on 82.6 million weighted average shares for the same period in 1998. Weighted average shares and per share amounts have been adjusted to reflect a 2-for-1 stock split, in the form of a 100% stock dividend, effective February 17, 1999.
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April 20, 1999 13:48
20 April 1999-VLSI TECHNOLOGY: VLSI reports improved first quarter results
VLSI Technology (NASDAQ: VLSI) today announced revenue of $149.6 million and earnings of $4.7 million, or $0.09 per share diluted, for the quarter ended April 2, 1999.
Excluding certain charges and gains, net income in the first quarter was $2.3 million, or $0.05 per share diluted, up 136.4 percent from fourth quarter 1998 net income of $1.0 million, or $0.02 per share diluted. Excluding certain charges and gains, net income in the first quarter was down 26.6 percent from first quarter 1998 net income of $3.2 million, or $0.07 per share diluted.
In the first quarter of 1999 VLSI recorded a pretax charge of $4.5 million for expenses relating to the unsolicited tender offer by Royal Philips Electronics. The company recorded pretax gains of $7.8 million in the first quarter of 1999 and $22.4 million in the fourth quarter of 1998, primarily as a result of the sale of ARM Holdings Ltd. shares.
First quarter revenue of $149.6 million was up 8.5 percent sequentially from fourth quarter 1998 revenue of $137.9 million, and up 5.9 percent from first quarter 1998 revenue of $141.3 million.
Bookings in the first quarter increased 34 percent over fourth quarter 1998 bookings, and 43 percent over the first quarter of 1998. Book-to-bill ratio for the quarter was 1.2.
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