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Technology Stocks : GTE -- Ignore unavailable to you. Want to Upgrade?

To: PaperChase who wrote (653)	10/22/1999 5:15:00 PM
From: Rob Preuss	Respond to of 671

The exchange ratio is 1.22. It will not change.

To: PaperChase who wrote (653)	10/24/1999 1:26:00 PM
From: Robert J Mullenbach	Read Replies (1) \| Respond to of 671

GTE Profits Rise 16 Percent IRVING, Texas (AP) - GTE Corp (NYSE:GTE - news). reported Thursday its third-quarter profit rose 16 percent, helped by strong sales of Internet and data services. The telecommunications company said it earned $952 million, or 97 cents a share, compared with $822 million, or 85 cents a share, in the same period a year ago. GTE, which is being acquired by Bell Atlantic Corp (NYSE:BEL - news)., beat the 95-cents-per-share estimate of analysts surveyed by First Call/Thomson Financial. XXXXXXXXXXXXXXXXXXXXX Bell Atlantic, set to buy GTE Corp (NYSE:GTE - news). in a $53 billion merger, said a 10-percent rise in third-quarter profits was underpinned by strong growth in its data and wireless services and demand for such features as call waiting. Third-quarter revenues for Bell Atlantic, the dominant local phone company in 13 states from Maine to Virginia, increased 5 percent to $8.3 billion. Third-quarter profits rose 10 percent to $1.2 billion, or 76 cents a share. The results, which excluded one-time items, met Wall Street expectations of 76 cents a share, according to research firm First Call/Thomson Financial. Chief Financial Officer Fred Salerno said the company could meet its goal of a five-percent revenue increase for the year with growth of 6.2 percent in the fourth quarter. Growth in the first two quarters was below the year's target. ``While some people consider this ambitious, we believe it's achievable,' he said in a telephone conference call. Salerno added that Bell Atlantic was still on track to meet the company's goal of 10-12 percent growth in earnings per share this year. Bell Atlantic shares were up 19 cents to $64.125. 1.22 X 64.125=78.23 as of then