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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: ok1day who wrote (47703)	6/2/1999 10:57:00 AM
From: JeffA	Respond to of 90042

WCOM/SKYT nothing earth shattering from meeting Wednesday June 2, 10:29 am Eastern Time MCI WorldCom comfortable with analysts' estimates NEW YORK, June 2 (Reuters) - MCI WorldCom Inc. (Nasdaq:WCOM - news), the No. 2 U.S. long-distance phone company, on Wednesday said it was comfortable with Wall Street's 1999 and 2000 earnings estimates and said it was ahead of schedule in attaining cost savings from the merger that formed the company last year. MCI WorldCom Chief Financial Officer Scott Sullivan told analysts that the company was comfortable with analysts' consensus earnings per share estimates of $1.97 for 1999 and $2.83 for 2000. MCI WorldCom said it expects its profit margins to increase as data, Internet and international services become a larger percentage of its business. Its communications services margins were 55 percent in the first quarter of 1999. The company said it expects its 1999 capital spending to be in the range of $7.5 billion to $7.9 billion. The estimates include $1.4 billion of proceeds from asset sales. The capital spending ''will be targeted to accelerate the revenue growth shift to Internet, international and data services,'' Sullivan said. MCI WorldCom was formed last September from the multibillion-dollar acquisition of MCI Communications Corp. by WorldCom